A guide to help you understand the ins and outs of business in New York
New York is one of the states located in the Northeastern region of the United States. Albany is the state’s capital, while the state’s largest city is New York City. New York City is the most populated city and the most densely populated city in the US. New York city is also the largest metropolitan area in the world by land mass and one of the world’s economic and cultural hubs.
New York’s top industries are agribusiness, biotech, clean energy, digital game development, distribution, financial services, homeland and cybersecurity, industrial machinery, software and digital media, tech, TV and film tourism, and transportation equipment. 54 of the Fortune 500 companies have headquarters in New York, which is 1st in the US. The state’s more than 10,000 firms in the financial industry holds $7.1 trillion. Also, film and TV productions have spent over $30 billion and hired nearly 2 million people in New York since 2011.
In 2019, New York imported $13,589,048 from Qatar. Its top imports are: Special classification provisions Mineral fuel, mineral wax, bitumin substance Plastics and articles thereof In 2019, New York exported $94,661,601 to Qatar with its top exports being: Nuclear reactors, boilers, machinery, etc. Natural pearls, precious metals, precious stones, coins, etc. Works of art, collectors' pieces and antiques
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New York has a corporate income tax of 6.5%. There are also 14 free trade zones located across the state. These free trade zones are located in New York City, Buffalo, Champlain, Syracuse, Alexandria Bay, Ogdensburg, Albany, Utica and Rochester. Furthermore, there are 49 incentive programs offered, such as the New Markets Tax Credit Program, ReCharge NY, the Empire State Jobs Retention Program, and the NYS Surety Bond Assistance Program (NYSBAP).