senate Bill S7344A

2011-2012 Legislative Session

Relates to beer production and beer label tax credits

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 (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 31, 2012 reported and committed to finance
May 22, 2012 print number 7344a
amend (t) and recommit to investigations and government operations
May 02, 2012 referred to investigations and government operations

Votes

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May 31, 2012 - Investigations and Government Operations committee Vote

S7344A
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: May 31, 2012

excused (1)

Co-Sponsors

S7344 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Add §§37 & 38, amd §210 & 606, Tax L

S7344 - Summary

Relates to beer production and beer label tax credits; allows a credit against tax of fourteen cents for each gallon of beer produced in the state of New York by a licensed brewery for up to six million two hundred thousand gallons and a beer label credit of one hundred fifty dollars for each label registered.

S7344 - Sponsor Memo

S7344 - Bill Text download pdf

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

                                  7344

                            I N  S E N A T E

                               May 2, 2012
                               ___________

Introduced  by  Sen.  ZELDIN -- 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 a beer production tax credit

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

  Section  1.  The tax law is amended by adding a new section 37 to read
as follows:
  S 37. BEER PRODUCTION CREDIT. (A) GENERAL. A TAXPAYER SUBJECT  TO  TAX
UNDER  ARTICLE  NINE-A  OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A
CREDIT AGAINST SUCH TAX PURSUANT TO THE PROVISIONS REFERENCED IN  SUBDI-
VISION  (B)  OF  THIS  SECTION.  THE CREDIT (OR PRO RATA SHARE OF EARNED
CREDIT IN THE CASE OF A PARTNERSHIP) FOR EACH GALLON OF BEER PRODUCED IN
NEW YORK STATE BY A LICENSED BREWERY OR A LICENSED TENANT BREWER  ON  OR
AFTER  APRIL FIRST, TWO THOUSAND TWELVE SHALL BE EQUAL TO FOURTEEN CENTS
MULTIPLIED BY THE NUMBER OF GALLONS PRODUCED NOT TO EXCEED  SIX  MILLION
TWO  HUNDRED  THOUSAND GALLONS. IF THE TAXPAYER IS PARTNER IN A PARTNER-
SHIP OR SHAREHOLDER OF A NEW YORK S CORPORATION, THEN THE CAP IMPOSED BY
THE PRECEDING SENTENCE SHALL BE APPLIED AT THE ENTITY LEVEL, SO THAT THE
AGGREGATE CREDIT ALLOWED TO ALL THE PARTNERS  OR  SHAREHOLDERS  OF  EACH
SUCH  ENTITY IN THE TAXABLE YEAR DOES NOT EXCEED SIX MILLION TWO HUNDRED
THOUSAND GALLONS TIMES FOURTEEN CENTS.
  (B) CROSS-REFERENCES. FOR APPLICATION OF THE CREDIT  PROVIDED  FOR  IN
THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
  (1) ARTICLE 9-A: SECTION 210, SUBDIVISION 45.
  (2) ARTICLE 22: SECTION 606, SUBSECTIONS (I) AND (UU).
  S 2. Section 210 of the tax law is amended by adding a new subdivision
45 to read as follows:
  45.  BEER  PRODUCTION CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO
BE COMPUTED AS PROVIDED IN SECTION THIRTY-SEVEN OF THIS CHAPTER, AGAINST
THE TAX IMPOSED BY THIS ARTICLE. THE CREDIT ALLOWED UNDER THIS  SUBDIVI-
SION  FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO
LESS THAN THE HIGHER OF THE AMOUNTS PRESCRIBED IN PARAGRAPHS (C) AND (D)
OF SUBDIVISION ONE OF THIS SECTION. HOWEVER, IF  THE  AMOUNT  OF  CREDIT

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

Co-Sponsors

view additional co-sponsors

S7344A (ACTIVE) - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Add §§37 & 38, amd §210 & 606, Tax L

S7344A (ACTIVE) - Summary

Relates to beer production and beer label tax credits; allows a credit against tax of fourteen cents for each gallon of beer produced in the state of New York by a licensed brewery for up to six million two hundred thousand gallons and a beer label credit of one hundred fifty dollars for each label registered.

S7344A (ACTIVE) - Sponsor Memo

S7344A (ACTIVE) - Bill Text download pdf

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

                                 7344--A

                            I N  S E N A T E

                               May 2, 2012
                               ___________

Introduced  by  Sens.  ZELDIN,  DILAN, SQUADRON, YOUNG -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations and Government Operations -- committee discharged, bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the tax  law,  in  relation  to  establishing  the  beer
  production and beer label tax credits

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

  Section 1. The tax law is amended by adding two new sections 37 and 38
to read as follows:
  S 37. BEER PRODUCTION CREDIT. (A) GENERAL. A TAXPAYER SUBJECT  TO  TAX
UNDER  ARTICLE  NINE-A  OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A
CREDIT AGAINST SUCH TAX PURSUANT TO THE PROVISIONS REFERENCED IN  SUBDI-
VISION  (B)  OF  THIS  SECTION.  THE CREDIT (OR PRO RATA SHARE OF EARNED
CREDIT IN THE CASE OF A PARTNERSHIP) FOR EACH GALLON OF BEER PRODUCED IN
NEW YORK STATE BY A LICENSED BREWERY OR A LICENSED TENANT BREWER  ON  OR
AFTER  APRIL FIRST, TWO THOUSAND TWELVE SHALL BE EQUAL TO FOURTEEN CENTS
MULTIPLIED BY THE NUMBER OF GALLONS PRODUCED NOT TO EXCEED  SIX  MILLION
TWO HUNDRED THOUSAND GALLONS. IF THE TAXPAYER IS A PARTNER IN A PARTNER-
SHIP OR SHAREHOLDER OF A NEW YORK S CORPORATION, THEN THE CAP IMPOSED BY
THE PRECEDING SENTENCE SHALL BE APPLIED AT THE ENTITY LEVEL, SO THAT THE
AGGREGATE  CREDIT  ALLOWED  TO  ALL THE PARTNERS OR SHAREHOLDERS OF EACH
SUCH ENTITY IN THE TAXABLE YEAR DOES NOT EXCEED SIX MILLION TWO  HUNDRED
THOUSAND GALLONS TIMES FOURTEEN CENTS.
  (B)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
  (1) ARTICLE 9-A: SECTION 210, SUBDIVISION 45.
  (2) ARTICLE 22: SECTION 606, SUBSECTIONS (I) AND (UU).
  S 38. BEER LABEL CREDIT. (A) GENERAL. A TAXPAYER SUBJECT TO TAX  UNDER
ARTICLE  NINE-A  OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A CREDIT
AGAINST SUCH TAX PURSUANT TO THE PROVISIONS  REFERENCED  IN  SUBDIVISION
(B)  OF  THIS SECTION. THE CREDIT (OR PRO RATA SHARE OF EARNED CREDIT IN
THE CASE OF A PARTNERSHIP) SHALL EQUAL ONE  HUNDRED  FIFTY  DOLLARS  FOR

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

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