The Southern Tier Startup Alliance is a regional consortium of business incubators that can provide tax benefits to businesses located in certain business incubators that are affiliated with a college, university or independent research institution. Businesses eligible to participate in the program must be located in New York and include corporations, sole proprietorships, partnerships, limited partnerships, LLCs, and New York S corporations in the formative stages of development. The business must also be approved to be located in a STSA incubator.
Under the program, startup businesses are eligible for corporation franchise tax benefits such as a fixed dollar minimum benefit and subtraction modification benefit, and sales and use tax benefits. If claimed, these benefits are irrevocable, meaning that no other exemption, deduction, tax credit or refund will be applicable.