"Giuliani years represented gains for small-business owners"

The plight of small business became an issue in the 1993 mayoral race, when candidate Rudy Giuliani called for business tax cuts and rolling back fines and fees. After his election, Giuliani initiated a rare era of tax-cutting, trimming or eliminating more than a dozen business-related taxes—including New York’s unique “vault levy” on underground space and the despised commercial occupancy tax, an unprecedented levy on rent dating from the Depression, which he wiped out in the four outer boroughs and for small businesses in Manhattan. Perhaps most significantly, Giuliani also persuaded the state legislature to eliminate the sales tax on clothing purchases of up to $110 (he had unsuccessfully sought a $500 floor), sparking a sharp uptick in retail sales citywide.

Read full article:  http://www.city-journal.org/2009/19_4_nyc-small-businesses.html