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


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to investigations and government operations
Jan 20, 2011 referred to investigations and government operations

Co-Sponsors

S2408 - Details

See Assembly Version of this Bill:
A7636
Law Section:
Tax Law
Laws Affected:
Amd ยง210, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S1229, A3707

S2408 - 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.

S2408 - Sponsor Memo

S2408 - 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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