Assembly Bill A10115

2009-2010 Legislative Session

Creates the qualified emerging technology commercialization tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

multi-Sponsors

2009-A10115 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A2638
2013-2014: A2742

2009-A10115 (ACTIVE) - Summary

Creates the qualified emerging technology commercialization tax credit; eligible taxpayer shall receive a credit for 15 percent of qualified commercialization expenses.

2009-A10115 (ACTIVE) - Sponsor Memo

2009-A10115 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10115

                          I N  A S S E M B L Y

                              March 4, 2010
                               ___________

Introduced  by  M.  of A. ALESSI, MORELLE, GABRYSZAK, DelMONTE, LUPARDO,
  MAGNARELLI -- Multi-Sponsored by -- M. of A. MILLMAN -- read once  and
  referred to the Committee on Ways and Means

AN  ACT  to  amend  the  tax  law, in relation to creating the qualified
  emerging technology commercialization tax credit

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 12-H to read as follows:
  12-H. QUALIFIED EMERGING TECHNOLOGY COMMERCIALIZATION TAX CREDIT.  (A)
AS USED IN THIS SUBDIVISION:
  (1)  "QUALIFIED  EMERGING  TECHNOLOGY  COMPANY"  SHALL  MEAN A COMPANY
LOCATED IN NEW YORK STATE: (I) WHOSE PRIMARY PRODUCTS  OR  SERVICES  ARE
CLASSIFIED AS EMERGING TECHNOLOGIES AND WHOSE TOTAL ANNUAL PRODUCT SALES
ARE  TEN  MILLION  DOLLARS OR LESS; OR (II) A COMPANY WHICH HAS RESEARCH
AND DEVELOPMENT ACTIVITIES IN NEW YORK STATE AND WHOSE RATIO OF RESEARCH
AND DEVELOPMENT FUNDS TO NET SALES EQUALS OR EXCEEDS THE  AVERAGE  RATIO
FOR  ALL  SURVEYED  COMPANIES  CLASSIFIED  AS DETERMINED BY THE NATIONAL
SCIENCE FOUNDATION IN THE MOST RECENT PUBLISHED RESULTS FROM ITS  SURVEY
OF INDUSTRY RESEARCH AND DEVELOPMENT, OR ANY COMPARABLE SUCCESSOR SURVEY
AS  DETERMINED  BY  THE DEPARTMENT, AND WHOSE TOTAL ANNUAL PRODUCT SALES
ARE TEN MILLION DOLLARS OR LESS. THE DEFINITION OF "RESEARCH AND  DEVEL-
OPMENT  FUNDS"  SHALL  BE  THE SAME AS THAT USED BY THE NATIONAL SCIENCE
FOUNDATION IN THE AFOREMENTIONED SURVEY.
  (2) "QUALIFIED COMMERCIALIZATION EXPENSES" MEANS TESTING; PROTOTYPING;
DESIGNING; NECESSARY MATERIALS AND FIXTURES,  OR  LABORATORY  EQUIPMENT;
INCORPORATION FEES AND LEGAL EXPENSES; ATTORNEY FEES; FEES FOR LICENSING
OF  TECHNOLOGIES DEVELOPED AT UNIVERSITIES; TRANSACTIONAL LEGAL EXPENSES
RELATED TO LICENSING UNIVERSITY TECHNOLOGIES; TRADE SHOW AND  CONFERENCE
FEES; AND PRODUCT PROMOTION AND MARKET RESEARCH EXPENSES.
  (B)  A  TAXPAYER  THAT IS A QUALIFIED EMERGING TECHNOLOGY COMPANY (AND
SPECIFICALLY FOR THE ACTIVITIES REFERENCED IN PARAGRAPH (B) OF  SUBDIVI-
SION  ONE  OF SECTION THIRTY-ONE HUNDRED TWO-E OF THE PUBLIC AUTHORITIES
LAW), AND THAT MEETS THE ELIGIBILITY REQUIREMENTS IN  PARAGRAPH  (C)  OF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.