Senate Bill S2683A

2013-2014 Legislative Session

Establishes a credit against the franchise tax on business corporations for the cost of replacing concord grapevines by a farm

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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Bill Amendments

co-Sponsors

2013-S2683 - Details

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: S2439
2011-2012: S849
2015-2016: S3073
2017-2018: S454
2019-2020: S928

2013-S2683 - Summary

Establishes a credit against the franchise tax on business corporations for the cost of replacing concord grapevines by a farm.

2013-S2683 - Sponsor Memo

2013-S2683 - Bill Text download pdf

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

                                  2683

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 23, 2013
                               ___________

Introduced  by Sens. YOUNG, RANZENHOFER -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Investi-
  gations and Government Operations

AN  ACT  to  amend  the tax law, in relation to establishing a grapevine
  replacement franchise tax on business corporations credit

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

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 46 to read as follows:
  46. GRAPEVINE REPLACEMENT TAX  CREDIT.  (A)  ALLOWANCE  OF  CREDIT.  A
TAXPAYER THAT IS A BUSINESS PRINCIPALLY ENGAGED IN FARMING, AS SUCH TERM
IS DEFINED IN PARAGRAPH NINETEEN OF SUBDIVISION (B) OF SECTION ONE THOU-
SAND  ONE HUNDRED ONE OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT AGAINST
THE TAX IMPOSED BY THIS ARTICLE FOR THE REPLACEMENT OF GRAPEVINES OF ANY
CONCORD VARIETY FOR TAXABLE YEARS BEGINNING ON OR AFTER  JANUARY  FIRST,
TWO  THOUSAND  THIRTEEN.  THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE
SUM OF THE COST OF GRAPEVINES THAT ARE PURCHASED  AND  PLANTED  FOR  THE
PURPOSE  OF  REPLACING  GRAPEVINES  OF  ANY CONCORD VARIETY. THIS CREDIT
SHALL NOT APPLY TO GRAPEVINES OF ANY CONCORD VARIETY.
  (B) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT  ALLOWED  UNDER
THIS  SUBDIVISION  FOR  ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX
FOR SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF  TAX  TO
BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE
THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THAT NO INTEREST
SHOULD  BE  PAID  ON  SUCH  REFUND,  NOTWITHSTANDING  THE  PROVISIONS OF
SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF THIS CHAPTER.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06906-01-3


              

co-Sponsors

2013-S2683A (ACTIVE) - Details

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: S2439
2011-2012: S849
2015-2016: S3073
2017-2018: S454
2019-2020: S928

2013-S2683A (ACTIVE) - Summary

Establishes a credit against the franchise tax on business corporations for the cost of replacing concord grapevines by a farm.

2013-S2683A (ACTIVE) - Sponsor Memo

2013-S2683A (ACTIVE) - Bill Text download pdf

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

                                 2683--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 23, 2013
                               ___________

Introduced  by Sens. YOUNG, RANZENHOFER -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Investi-
  gations  and  Government Operations -- recommitted to the Committee on
  Investigations and Government Operations  in  accordance  with  Senate
  Rule  6,  sec.  8  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation  to  establishing  a  grapevine
  replacement franchise tax on business corporations credit

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

  Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
subdivision 48 to read as follows:
  48.  GRAPEVINE  REPLACEMENT  TAX  CREDIT.  (A)  ALLOWANCE OF CREDIT. A
TAXPAYER THAT IS A BUSINESS PRINCIPALLY ENGAGED IN FARMING, AS SUCH TERM
IS DEFINED IN PARAGRAPH NINETEEN OF SUBDIVISION (B) OF SECTION ONE THOU-
SAND ONE HUNDRED ONE OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT  AGAINST
THE TAX IMPOSED BY THIS ARTICLE FOR THE REPLACEMENT OF GRAPEVINES OF ANY
CONCORD  VARIETY  FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST,
TWO THOUSAND FOURTEEN. THE AMOUNT OF THE CREDIT SHALL BE  EQUAL  TO  THE
SUM  OF  THE  COST  OF GRAPEVINES THAT ARE PURCHASED AND PLANTED FOR THE
PURPOSE OF REPLACING GRAPEVINES OF  ANY  CONCORD  VARIETY.  THIS  CREDIT
SHALL NOT APPLY TO GRAPEVINES OF ANY CONCORD VARIETY.
  (B)  APPLICATION  OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL EXCEED  THE  TAXPAYER'S  TAX
FOR  SUCH  YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO
BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE
THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THAT NO INTEREST
SHOULD BE  PAID  ON  SUCH  REFUND,  NOTWITHSTANDING  THE  PROVISIONS  OF
SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF THIS CHAPTER.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06906-02-4

              

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