SENATOR WHELAN TO INTRODUCE BILL FOR SMALL BUSINESS TAX CREDIT FOR STORM DAMAGE

State Senator Jim Whalen announced on Tuesday that he plans to introduce legislation that will help small businesses affected by Hurricane Sandy. Whalen’s bill would allow small business owners to claim up to $100,000 in tax credits for uncompensated property losses and repairs from the super-storm. The credit could be applied to the business’ corporate taxes or the owner’s income taxes.