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Franchisors ask for more time on N.Y. tax rule
July 21, 2009
The International Franchise Association is asking the State of New York to postpone the implementation of a new rule that requires franchisors to report transaction information for in-state franchise owner-operators, according to the franchise news and information site BlueMauMau.org.
The statute gives the state the right to demand gross revenue figures gathered about a franchisee by their franchisor.
The IFA has asked the state to delay implementing the statute until Dec. 31. It is currently slated to go into effect Sept. 20.
International Franchise Association CEO Matt Shay said the required information would be difficult to gather in such a short time.
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