Article: Ernst & Young statement on proposed services sales tax in New York. (New York State) (includes transcript)

ERNST & YOUNG STATEMENT ON PROPOSED SERVICE SALES TAX IN NEW YORK

NEW YORK, May 1 /PRNewswire/ -- Ernst & Young today issued the following:

The service industry sales tax being rushed through the New York State legislature as part of the overall budget proposal has been drafted without benefit of public scrutiny and debate. We find it ill- conceived and hastily drafted and likely therefore to fail in meeting its goals. Also, it is likely to halt investment, reduce jobs in growth industries and transfer them to other states or overseas without even achieving the additional tax revenues sought, according to Michael Henning, the managing partner of ...

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