Senate Bill S2408

2011-2012 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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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2011-S2408 (ACTIVE) - Details

See Assembly Version of this Bill:
A7636
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §210, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1229, A3707
2013-2014: S1668, A2035

2011-S2408 (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.

2011-S2408 (ACTIVE) - Sponsor Memo

2011-S2408 (ACTIVE) - Bill Text download pdf

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

                                  2408

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 20, 2011
                               ___________

Introduced  by Sen. GRISANTI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

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.
                                                           LBD07931-01-1


              

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