Q&A
Addressing paperwork burdens in incentive programs
0:25:19
·
70 sec
The discussion focused on the paperwork requirements for incentive programs and their impact on business participation. Key points include:
- Concern that paperwork requirements often outweigh the benefits for programs like the accelerated sales tax exemption program
- SBS offers assistance with applications and connecting businesses to appropriate resources
- Specific data on average processing time and the number of businesses that received ASAP benefits last year was not immediately available
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SBS administers two main incentive programs: the energy cost savings program and the lower Manhattan cost savings program
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The responses indicate a willingness to assist businesses with paperwork, but lack specific data on program efficiency and utilization.
Amanda Farías
0:25:19
No problem.
0:25:22
So I've heard paperwork requirements often outweigh the benefits for programs like accelerated sales tax exemption program offering up to a $100,000 in tax breaks for eligible businesses.
0:25:34
How are you folks addressing this, and what's the average processing time for applications, if you have that?
Kitty Chan
0:25:41
Thank you very much for that question.
0:25:42
As I mentioned during our incentives consultations, we make business owners aware of other incentives that they're eligible for.
0:25:49
We will help them with their applications, any assistance that they may need with it or any questions they have or connect them to the appropriate person, to answer their questions.
Amanda Farías
0:26:04
Okay.
0:26:04
And do you know, what the average processing time is or how many businesses received, ASAP benefits last year?
Kitty Chan
0:26:15
I'm sorry.
0:26:15
I don't know.
0:26:16
We're gonna have to get back to you on that one.
0:26:18
Sure.
0:26:20
The small business department of small Services administers 2 of the incentive, the energy cost savings program, and the lower Manhattan cost savings program.
