I didn't think they were waiving personal income taxes either, but it actually looks like they are:
What is the Personal Income Tax exemption for employees?
Employees of businesses in START-UP NY will pay no income taxes on their wages for the first five years. For the second five years, employees will pay no taxes on income up to $200,000 of wages for individuals, $250,000 for a head of household and $300,000 for taxpayers filing a joint return.
If low income taxes tipped the scales enough to make it more profitable for businesses, why haven't we seen that already with states that have zero income tax?
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I didn't think they were waiving personal income taxes either, but it actually looks like they are:
What is the Personal Income Tax exemption for employees?
Employees of businesses in START-UP NY will pay no income taxes on their wages for the first five years. For the second five years, employees will pay no taxes on income up to $200,000 of wages for individuals, $250,000 for a head of household and $300,000 for taxpayers filing a joint return.
(http://startup-ny.com/faq/#b-11)
Still, that only applies to NYS/NYC income taxes.
You're still on the hook for federal income tax, which is most of your income tax. (Obviously, the state can't do anything about that!)
Right and we're comparing this to other state/s with income tax. What's CA up to now? I'm sure they're the bullseye target.
If low income taxes tipped the scales enough to make it more profitable for businesses, why haven't we seen that already with states that have zero income tax?
Good catch, thanks! Of course, this still doesn't cover capital gains, dividends, or other income...