SIA Submits Comments to the State of New York Regarding Tax Policy Initiatives
Published on:
April 15, 2003
The Securities Industry Association (SIA)* provides comments to the State of New York regarding tax policy initiatives. SIA urges the Governor to reject any consideration of these proposals as they would have a damaging effect on the industry. SIA is specifically concerned about proposals that would restore the Stock Transfer Tax (STT), alter he current treatment of the investment income, and scale back the application of the Investment Tax Credit (ITC). SIA believes these proposals would add significant disincentives to operate in New York and lead to the further erosion of the industry’s job base.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.