Wednesday, May 16, 2012
Sunday, May 13, 2012
Friday, May 11, 2012
Thursday, May 10, 2012
Empire Zone Cases at the Court of Appeals
Paladino vs. Cuomo, the rematch: Election opponents fight in court over Empire Zone money | syracuse.com
"The state’s highest court has been asked to decide whether Gov. Andrew Cuomo’s administration should return about $200,000 a year in Empire Zone tax breaks to his old adversary, Carl Paladino.
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At stake for Paladino is about $200,000 a year in lost tax breaks, dating back to 2008 and covering the next seven years.
At stake for Paladino is about $200,000 a year in lost tax breaks, dating back to 2008 and covering the next seven years.
But the issue could have bigger consequences.
The case could open the door for other businesses to reclaim tax breaks the state took away when it kicked them out of the program in 2009.
Paladino is one of only two cases, so far, to reach the state’s highest court. The other case includes James Square Associates, the real estate company that owns the James Square Health and Rehabilitation Center in Syracuse. The cases are expected to be heard together in November at the earliest, a court spokesman said.
Paladino was booted because the state decided his tax breaks exceeded his investment.
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Dozens of other businesses are watching.
Dozens of other businesses are watching.
If Paladino wins, it could mean that the state must repay 2008 tax credits to other businesses that were kicked out yet preserved their rights to claim the credits, said Tim Lynn, an attorney with Bousquet Holstein in Syracuse.
The court could also go beyond the question of that one tax year to address the bigger picture. Was it proper for the state to change the rules for entry eight years after companies had been accepted?"
Sunday, May 6, 2012
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