|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to cities|
|May 23, 2013||referred to cities|
senate Bill S5594
Archive: Last Bill Status - In Senate Committee Cities Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S5594 (ACTIVE) - Details
S5594 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5594 TITLE OF BILL: An act to amend the administrative code of the city of New York, in relation to establishing a credit for beer produced within the city of New York by a taxpayer that is registered as a distributor under article eighteen of the tax law PURPOSE: To encourage the growth of New York City breweries by establishing a beer production tax credit in the New York City Administrative Code. SUMMARY OF PROVISIONS: Section 1 adds a new subdivision (p) to section 11-503 of the New York administrative code to provide a beer production business tax credit for beer distributors that produce 60 million or fewer gallons of beer in New York City. The tax credit shall be 12 cents per gallon for the first 500,000 of beer produced, and three and eighty-six one hundredths cents per gallon thereafter until 15,500,000 gallons. Section 2 adds a new subdivision 22 to section 11-604 of the New York administrative code to provide a beer production corporate tax credit for beer distributors that produce 60 million or fewer gallons of beer in New York City. The amount of the credit shall equal that specified for the business tax credit established in section 1 of the bill, and likewise applicable to the first 15,500,000 gallons only.
S5594 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5594 2013-2014 Regular Sessions I N S E N A T E May 23, 2013 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the administrative code of the city of New York, in relation to establishing a credit for beer produced within the city of New York by a taxpayer that is registered as a distributor under arti- cle eighteen of the tax law THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 11-503 of the administrative code of the city of New York is amended by adding a new subdivision (p) to read as follows: (P) BEER PRODUCTION CREDIT. (1) A TAXPAYER SUBJECT TO TAX UNDER THIS CHAPTER, THAT IS REGISTERED AS A DISTRIBUTOR UNDER ARTICLE EIGHTEEN OF THE TAX LAW, AND THAT PRODUCES SIXTY MILLION OR FEWER GALLONS OF BEER IN THIS STATE IN THE TAXABLE YEAR, SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS CHAPTER IN THE AMOUNT SPECIFIED IN PARAGRAPH TWO OF THIS SUBDIVISION. PROVIDED, HOWEVER, THAT NO CREDIT SHALL BE ALLOWED FOR ANY BEER PRODUCED IN EXCESS OF FIFTEEN MILLION FIVE HUNDRED THOUSAND GALLONS IN THE TAXABLE YEAR. NOTWITHSTANDING ANYTHING TO THE CONTRARY, IF A PARTNERSHIP IS ALLOWED A CREDIT UNDER THIS SUBDIVISION, A PARTNER IN SUCH PARTNERSHIP SHALL NOT BE ALLOWED A CREDIT UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR THAT INCLUDES THE LAST DAY OF THE TAXABLE YEAR FOR WHICH THE PARTNERSHIP IS ALLOWED SUCH CREDIT. (2) THE AMOUNT OF THE CREDIT PER TAXPAYER PER TAXABLE YEAR FOR EACH GALLON OF BEER PRODUCED IN THE CITY OF NEW YORK ON OR AFTER JANUARY FIRST, TWO THOUSAND FOURTEEN SHALL BE DETERMINED AS FOLLOWS: (I) FOR THE FIRST FIVE HUNDRED THOUSAND GALLONS OF BEER PRODUCED IN THE CITY OF NEW YORK IN THE TAXABLE YEAR, THE CREDIT SHALL EQUAL TWELVE CENTS PER GALLON; AND (II) FOR EACH GALLON OF BEER PRODUCED IN THE CITY OF NEW YORK IN THE TAXABLE YEAR IN EXCESS OF FIVE HUNDRED THOUSAND GALLONS, THE CREDIT SHALL EQUAL THREE AND EIGHTY-SIX ONE HUNDREDTHS CENTS PER GALLON. THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11248-01-3
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