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Tax Advantages

Watch your revenue and business grow when you take advantage of Montgomery County’s generous incentives including low-interest bonds, exemptions and abatement programs offered by the county Industrial Development Agency (MCIDA) and Capital Resources Corp.
  • Tax-exempt Industrial Development Bonds- both public and private placement. The Agency is empowered to issue industrial development bonds for manufacturers. Because the interest, which accrues to the bondholder, is exempt from federal and state personal income tax, the effective rate of borrowing is generally below the prime interest rate. This tool can be used for all eligible project costs including machinery and equipment,acquisition and/ or construction of new facilities.
  • Taxable Industrial Development Bonds- similar to the tax-exempt industrial development bond, this tool is commonly used for projects, which are not eligible for tax-exempt financing (non-manufacturers). The expected rate of borrowing is set at prime or slightly above prime by the bondholder or if a public issue, by the underwriter.
  • Both tax-exempt and taxable bonds- provide an opportunity for expanding businesses to negotiate a payment in-lieu of tax agreement (PILOT), which can provide substantial reductions in real estate, construction, sales andmortgage recording taxis
  • Real Property Tax Abatement- Collaborate with the MCIDA to negotiate payments in lieu of taxes (PILOTs) on real property.
  • Sales and Use Tax Exemption- Benefit from tax exemptions of up to 8 percent on non-production equipment and construction materials.
  • Mortgage Recording Exemption- Finance a mortgage with a tax exemption of 3 to 4 percent on the amount financed.
  • Montgomery County Community Development Fund- Relocate or expand your business with a commitment to adding or retaining jobs. The county Community Development Fund offers low-interest loans for real estate acquisition, working capital and construction as well as machinery and equipment purchases.
  • Rural Business Enterprise Revolving Loan Fund- Take advantage of low-interest federal loans from the U.S. Department of Agriculture. The Rural Business Enterprise Revolving Loan fund assists with real estate acquisition, working capital, construction as well as machinery and equipment purchase.

Data Name Value
State Tax Ranks (New York)
Overall 49
Corporate Tax 7
Individual Income Tax 49
Sales Tax 43
Unemployment Insurance Tax 47
Property Tax 30
State Sales Tax Rates (New York)
Sales Tax 4.000%
Are Localities Permitted to Define the Tax Base? No
State Unemployment Insurance Tax Rates (New York)
Minimum 1.3000%
Maximum 9.1000%
Taxable Wage Base $10,900
Most Favorable Schedule - Minimum 0.0000%
Most Favorable Schedule - Maximum 6.4000%
Least Favorable Schedule - Minimum 1.5000%
Least Favorable Schedule - Maximum 8.9000%
State Property & Capital Stock Tax Rates (New York)
Property Tax Collections Per Capita $2,494
Property Tax Collections - Percentage of Income 4.59%
Capital Stock Tax Rate 0.100%
Capital Stock Maximum Payment $1,000,000
Payment Options for CST and CIT Pay Highest
Real Estate Taxes
Median Real Estate Taxes Paid   $3,278
State Income Tax Rates (New York)
Corporate  
≥ $0 6.500%
Individual (Ordinary Income)  
≥ $0 4.000%
≥ $8,500 4.500%
≥ $11,700 5.250%
≥ $13,900 5.900%
≥ $21,400 6.450%
≥ $80,650 6.650%
≥ $215,400 6.850%
≥ $1,077,550 8.820%