Assembly Bill A4631A

2021-2022 Legislative Session

NY local food and products sourcing 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

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Bill Amendments

co-Sponsors

2021-A4631 - Details

See Senate Version of this Bill:
S2645
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11270
2011-2012: A1301
2013-2014: A337
2015-2016: A3243
2017-2018: A1682
2019-2020: A1651, S5275
2023-2024: A2054, S3585

2021-A4631 - Summary

Relates to creating a local food and products sourcing tax credit.

2021-A4631 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4631
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2021
                                ___________
 
 Introduced by M. of A. HAWLEY -- read once and referred to the Committee
   on Ways and Means
 
 AN  ACT  to  amend the tax law, in relation to creating a local food and
   products sourcing tax credit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Section  210-B  of the tax law is amended by adding a new
 subdivision 55 to read as follows:
   55. LOCAL FOOD AND PRODUCTS SOURCING TAX CREDIT. 1. BUSINESSES SUBJECT
 TO TAX LIABILITY UNDER ARTICLE NINE OR NINE-A OF THIS CHAPTER MAY  CLAIM
 THE  LOCAL  FOODS  AND  PRODUCTS  SOURCING  TAX  CREDIT AGAINST ANY SUCH
 LIABILITY AT THE CLOSE OF THE  TAX  YEAR  PROVIDED,  HOWEVER,  THAT  THE
 UNUSED  PORTION  OF  ANY TAX CREDIT CLAIMED SHALL NOT BE CARRIED FORWARD
 AND APPLIED IN ANOTHER TAX YEAR.
   2. FOR THE PURPOSES OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE THE
 FOLLOWING MEANINGS:
   (A) "LOCAL PRODUCTS", ARE ANY PRODUCTS  GROWN,  RAISED,  PRODUCED,  OR
 MANUFACTURED  BY  A  PRODUCER WITHIN THE STATE OF NEW YORK, FROM SEED OR
 CONCEPTION THROUGH FINAL PRODUCT;
   (B) "PRODUCER", IS  AN  INDIVIDUAL  (WHETHER  ACTING  INDIVIDUALLY  OR
 THROUGH  A  COOPERATIVE, CORPORATION, PARTNERSHIP, BUSINESS ASSOCIATION,
 OR EDUCATIONAL INSTITUTION) WHO IS A FARMER, STUDENT FARMER, OR MANUFAC-
 TURER OF FOODS OR GOODS IN NEW YORK STATE, IT SHALL NOT HOWEVER  INCLUDE
 A WHOLESALER OR DISTRIBUTOR;
   (C) "NET SALES", ARE THE TOTAL SALES OF THE BUSINESS SUBJECT TO TAX.
   3.  THE  AMOUNT  OF  THE  CREDIT  SHALL BE PROSCRIBED ACCORDING TO THE
 FOLLOWING SCHEDULE:
   (A) TWENTY PERCENT OF NET SALES ARE ATTRIBUTED TO LOCAL  PRODUCTS  THE
 CREDIT SHALL BE ONE THOUSAND FIVE HUNDRED DOLLARS.
   (B)  FORTY  PERCENT  OF NET SALES ARE ATTRIBUTED TO LOCAL PRODUCTS THE
 CREDIT SHALL BE THREE THOUSAND DOLLARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2021-A4631A (ACTIVE) - Details

See Senate Version of this Bill:
S2645
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11270
2011-2012: A1301
2013-2014: A337
2015-2016: A3243
2017-2018: A1682
2019-2020: A1651, S5275
2023-2024: A2054, S3585

2021-A4631A (ACTIVE) - Summary

Relates to creating a local food and products sourcing tax credit.

2021-A4631A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4631--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2021
                                ___________
 
 Introduced  by  M.  of A. HAWLEY, SMULLEN, ANGELINO, GALLAHAN, LEMONDES,
   DeSTEFANO, DURSO -- read once and referred to the  Committee  on  Ways
   and  Means -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT to amend the tax law, in relation to creating a  local  food  and
   products sourcing tax credit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 210-B of the tax law is amended  by  adding  a  new
 subdivision 55 to read as follows:
   55. LOCAL FOOD AND PRODUCTS SOURCING TAX CREDIT. 1. BUSINESSES SUBJECT
 TO  TAX LIABILITY UNDER ARTICLE NINE OR NINE-A OF THIS CHAPTER MAY CLAIM
 THE LOCAL FOODS AND  PRODUCTS  SOURCING  TAX  CREDIT  AGAINST  ANY  SUCH
 LIABILITY  AT  THE  CLOSE  OF  THE  TAX YEAR PROVIDED, HOWEVER, THAT THE
 UNUSED PORTION OF ANY TAX CREDIT CLAIMED SHALL NOT  BE  CARRIED  FORWARD
 AND APPLIED IN ANOTHER TAX YEAR.
   2. FOR THE PURPOSES OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE THE
 FOLLOWING MEANINGS:
   (A)  "LOCAL  PRODUCTS",  ARE  ANY PRODUCTS GROWN, RAISED, PRODUCED, OR
 MANUFACTURED BY A PRODUCER WITHIN THE STATE OF NEW YORK,  FROM  SEED  OR
 CONCEPTION THROUGH FINAL PRODUCT;
   (B)  "PRODUCER",  IS  AN  INDIVIDUAL  (WHETHER  ACTING INDIVIDUALLY OR
 THROUGH A COOPERATIVE, CORPORATION, PARTNERSHIP,  BUSINESS  ASSOCIATION,
 OR EDUCATIONAL INSTITUTION) WHO IS A FARMER, STUDENT FARMER, OR MANUFAC-
 TURER  OF FOODS OR GOODS IN NEW YORK STATE, IT SHALL NOT HOWEVER INCLUDE
 A WHOLESALER OR DISTRIBUTOR;
   (C) "NET SALES", ARE THE TOTAL SALES OF THE BUSINESS SUBJECT TO TAX.
   3. THE AMOUNT OF THE CREDIT  SHALL  BE  PROSCRIBED  ACCORDING  TO  THE
 FOLLOWING SCHEDULE:
   (A)  TWENTY  PERCENT OF NET SALES ARE ATTRIBUTED TO LOCAL PRODUCTS THE
 CREDIT SHALL BE ONE THOUSAND FIVE HUNDRED DOLLARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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