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Assembly Bill A3707

2009-2010 Legislative Session

Expands the availability of tax credit refunds for start-up high technology companies

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Archive: Last Bill Status - In Assembly Committee

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2009-A3707 (ACTIVE) - Details

See Senate Version of this Bill:
S1229
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง210, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A7636, S2408
2013-2014: A2035, S1668

2009-A3707 (ACTIVE) - Summary

Relates to tax credits for start-up high technology companies to allow such companies in existence for 8 or less taxable years to receive refunds of unused investment tax credit carry forwards.

2009-A3707 (ACTIVE) - Bill Text download pdf 

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

                                  3707

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 28, 2009
                               ___________

Introduced  by M. of A. KOON, SCHIMMINGER, DESTITO, SWEENEY, ENGLEBRIGHT
  -- read once and referred to the Committee on Ways and Means

AN ACT to amend the tax law, in relation  to  start-up  high  technology
  companies

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

  Section 1.   Subparagraph 3 of paragraph  (j)  of  subdivision  12  of
section  210 of the tax law, as amended by section 1 of part CC of chap-
ter 85 of the laws of 2002, is amended to read as follows:
  (3) has been subject to tax under this  article  for  more  than  five
taxable  years (excluding short taxable years) PROVIDED, HOWEVER, IF THE
TAXPAYER IS A START-UP HIGH TECHNOLOGY COMPANY OR A SMALL HIGH TECHNOLO-
GY COMPANY PURSUANT TO THE  PROVISIONS  OF  SECTION  THIRTY-ONE  HUNDRED
TWO-E  OF  THE  PUBLIC  AUTHORITIES  LAW, THE REFERENCE TO "FIVE TAXABLE
YEARS" IN THE PRECEDING SENTENCE SHALL BE READ AS "EIGHT TAXABLE YEARS".
  S 2. This act shall take effect on the first of January next  succeed-
ing  the  date  on  which  it shall have become a law and shall apply to
taxable years beginning on or after such date.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02445-01-9

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