Governor Andrew Cuomo signed new legislation this week to make Binghamton University and SUNY Broome tax-free areas. Cuomo signed SUNY Tax-Free Areas to Revitalize and Transform Upstate NY, or START-UP NY, at Binghamton University. Due to the legislation, SUNY campuses and some private colleges in the state are virtually tax-free. The governor is hoping to encourage start-up businesses to begin on SUNY campuses, where they will be exempt from taxes for 10 years as a result of the program. Taxes that businesses would be exempt from include property, business, and sales taxes. Cuomo says the goal for START-UP NY is to create jobs and boost the economy across the state by having companies invest on college campuses.
