| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| May 31, 2012 |
reported and committed to finance |
| May 22, 2012 |
print number 7344a |
| May 22, 2012 |
amend (t) and recommit to investigations and government operations |
| May 02, 2012 |
referred to investigations and government operations |
Senate Bill S7344A
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
Actions
Votes
Bill Amendments
co-Sponsors
(D) Senate District
(D, WF) Senate District
(R, C, IP) Senate District
2011-S7344 - Details
- Current Committee:
- Senate Finance
- Law Section:
- Tax Law
- Laws Affected:
- Add §§37 & 38, amd §210 & 606, Tax L
2011-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.
2011-S7344 - Sponsor Memo
BILL NUMBER:S7344
TITLE OF BILL:
An act to amend the tax law, in relation to a beer production tax
credit
PURPOSE:
To provide a tax credit for production of beer in the amount of 14
cents per gallon for up to the first 6,200,000 gallons.
SUMMARY OF PROVISIONS:
This bill amends tax law to create a new beer production tax credit
against the franchise and personal income tax of 14 cents per gallon
for the production of beer in New York State by a licensed brewery or
licensed tenant brewer for the first 6,200,000 gallons produced in a
taxable year.
JUSTIFICATION:
An unexpected and significant tax burden has recently been placed on
New York State brewers following a Supreme Court ruling (Shelton v.
NYS Liquor Authority & NYS Department of Taxation and Finance) that
struck down an excise tax exemption contained in section 424(6) of the
Tax Law for the first 200,000 barrels (6,200,000 gallons) of beer
produced in New York. In order to obviate the negative economic impact
of the Supreme Court ruling, a newly created Beer Production Credit
would allow licensed breweries and licensed tenant brewers to utilize
2011-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
(D) Senate District
(R) Senate District
(R, C, IP, RFM) Senate District
(D, WF) Senate District
2011-S7344A (ACTIVE) - Details
- Current Committee:
- Senate Finance
- Law Section:
- Tax Law
- Laws Affected:
- Add §§37 & 38, amd §210 & 606, Tax L
2011-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.
2011-S7344A (ACTIVE) - Sponsor Memo
BILL NUMBER:S7344A
TITLE OF BILL:
An act
to amend the tax law, in relation to establishing the beer production
and beer label tax credits
PURPOSE:
To provide a tax credit for production of beer in the amount
of 14 cents per gallon for up to the first 6,200,000 gallons and a
Microbrewery Beer Label Credit.
SUMMARY OF PROVISIONS:
This bill amends tax law to create a new beer
production tax credit against the franchise and personal income tax
of 14 cents per gallon for the production of beer in New York State
by a licensed brewery or licensed tenant brewer for the first
6,200,000 gallons produced in a taxable year. It also amends the tax
law to create a Beer Label Credit in the amount of one hundred and
fifty dollars for each brand name or label registered with the state
liquor authority for beer brewed in batches of fifteen hundred or
less during the taxable year.
JUSTIFICATION:
An unexpected and significant tax burden has recently
been placed on New York State brewers following a Supreme Court
2011-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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