Stock Exchange Threatens to Leave New York Over Transfer Tax

The stock exchange is threatening to leave New York if state legislators move forward with a transfer tax on stock sales.

NYSE President Stacy Cunningham says history has proven “if you try to squeeze more revenue from financial firms, the business goes elsewhere.”

The NYSE and 25 others in the industry sent a letter last week to Gov. Cuomo arguing against “re-imposing any form of a New York state stock transaction tax.”