Barclay Damon
Barclay Damon

Tax Credit Ruling Saves Company Millions of Dollars

The manufacturer of equipment for those who work in trees and on utility poles faced the loss of $450,000 in tax credits when the New York State Department of Taxation and Finance, applying the so-called “Business Allocation Percentage,” declared the company’s Empire Zone Tax Reduction Credit should be cut by 90 percent because the company shipped 90 percent of its products out of state.

Our attorneys took up the company’s case. Recognizing the strength of the case and the fact that settlement offers from the state were not acceptable to our client, our attorneys took the matter to a hearing in the Division of Tax Appeals. In a first-of-its-kind case, the Division ruled completely in favor of the taxpayers.

Building on that experience, our attorneys continue to represent numerous other taxpayers facing the same “Business Allocation Percentage” challenge to their Empire Zone Tax Reduction Credits.



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