Business & Tech
Suffolk Business Agency Offers Sales Tax Relief For Commercial Sandy Recovery
Under the county's Industrial Development Agency, businesses trying to rebuild in the aftermath of the superstorm offered a financial break.
The Industrial Development Agency (IDA), an arm of the Suffolk County government, has announced its plans to offer a sales tax relief program for small businesses that are attempting to put the pieces back together destroyed by Hurricane Sandy.
Called the "Emergency Sales Tax Relief Program," the provision allows businesses that need to purchase items necessary to get back on its feet to make its purchases free of sales tax. This includes construction materials, equipment, and infrastructure replacement, and will waive sales tax up to $100,000 in purchases.
An application is required to receive this benefit, and there is some criteria to qualify. For example the relief is intended for small businesses, defined as 50 or less full-time employees, and the business must be in a commercial space: no home-office or residential-based businesses.
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The benefit will extend to only 200 such businesses, so if you're interested, apply immediately. For a complete list of information about the program, click on our gallery to view the attached flyer created by the IDA.
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