*Letters

SIA Submits Comments to the New York State Senate on Tax Raising Proposals

Published on:
April 15, 2003

The Securities Industry Association (SIA)* provides comments to the Senate of the State of New York on rejecting any consideration of tax raising proposals as they would have a damaging effect on the industry and would jeopardize the future recovery of the State and New York City economies. Proposals that would restore the Stock Transfer Tax (STT), the current treatment of the investment income, and scale back the application of the Investment Tax Credit (ITC) would add significant disincentives to operate in New York. SIA urges the Senate to reject any effort to scale back the application of the ITC and any calls to adopt these harmful proposals.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TMBA) in 2006.

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