A sales tax-free downtown? Rocco Termini pushing for it




Could a large portion of downtown Buffalo be a “sales tax free zone” for retailers?
At least one prominent business leader thinks so.

Rocco Termini, a developer with a vast number of downtown holdings in his portfolio, has suggested that a sales tax free zone in downtown might be enough to help encourage more retailers to open their doors in the central business district.

“This is the time to do it,” Termini said.




http://www.bizjournals.com/buffalo/n...i-pushing.html



Tony's opinion. It is never the right time to put other businesses at a disadvantage in a small geographical area.

Eliminating all state and Erie County sales taxes, which adds 8.75 percent to all retail transactions, may be enough of an incentive to encourage retail development, according to Termini.
“We need to start our focus on developing downtown retail,” he said.


Dropping the sales tax is not a new subject. Others including then-Erie County Executive Joel Giambra pushed for support for similar measures but never gained significant traction in Albany and Erie County Hall.


“Nothing in the past has worked,” Termini said.
It is also enough incentive to cause surrounding businesses to lose business by not being in that tax free zone.

How would you like to be a small retailer who invested $200,000 to sell your "widets". You now have someone opening up their "widet" retail shop in that tax free zone. Instantly you are at a 8.75% disadvantage.

I heard that Mr Termini is a good guy but in the end I don't care if fills the vacant property he owns by making the playing field unfair to other retailers. That is what it's about. If he can't fill the vacant buildings he buys or owns he can't make money.

Here is an idea. He should offer discounted rents. Very discounted. I don't care if he loses money on his development investments. Just as he doesn't care that other people who invested in their businesses might lose money because of the 8.75% disadvantage they would have. Fair enough?

Let us start with baby steps. Get rid of the 1% "temporary" sales tax in Erie County. Help everyone a little instead of a select few.

Should retail businesses in downtown Buffalo be exempt from charging sales tax?

Posted by Sergio Rodriguez on Thursday, January 28, 2016