SIFMA Statement On Tax Reforms and Modernization of NYC’s Corporate Tax System

Release Date: January 12, 2015
Contact: Katrina Cavalli, 212.313.1181, [email protected]

SIFMA Statement On Tax Reforms and Modernization of NYC’s Corporate Tax System

New York, NY, January 12, 2015– SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., president and CEO, on the announcement by New York City Mayor Bill de Blasio of tax reforms and modernization of NYC’s corporate tax system:

“We commend Mayor de Blasio for supporting key tax reforms and applaud the City’s commitment to improving the business climate for many industries throughout the City and State. The Mayor’s proposal modernizes outdated rules to conform to a major retooling of federal laws governing financial institutions, providing the financial sector with updated rules to enhance business planning and retention. The new tax laws will allow the industry to remain competitive and strong in order to bring greater benefits and opportunities to New York.”