New York Tax Law Change Provides Relief for Construction Firms

A recent change in New York tax law may provide meaningful benefits for construction companies and other businesses engaged in research and development activities.

The legislation decouples New York's treatment of certain research and development expenses from federal tax rules, potentially allowing businesses to recover costs more quickly and improve cash flow.

Construction firms utilizing innovative technologies, prefabrication processes, engineering solutions, and advanced project delivery methods may benefit from the updated provisions.