Assembly Bill A5218

2015-2016 Legislative Session

Establishes a tax credit for patent fees

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Archive: Last Bill Status - In Assembly 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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2015-A5218 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A10360
2013-2014: A1736
2017-2018: A4625
2019-2020: A1012

2015-A5218 (ACTIVE) - Summary

Establishes a tax credit for patent fees not to exceed $1,500.

2015-A5218 (ACTIVE) - Bill Text download pdf 

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

                                  5218

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 13, 2015
                               ___________

Introduced  by  M.  of  A.  KOLB, OAKS, WALTER, PALMESANO, RAIA, HAWLEY,
  BARCLAY -- read once and referred to the Committee on Ways and Means

AN ACT to amend the tax law, in relation to patent-NY credit

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

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (ccc) to read as follows:
  (CCC) PATENT-NY TAX CREDIT. (1) GENERAL. A TAXPAYER SHALL BE ALLOWED A
CREDIT AGAINST THE TAX IMPOSED BY THIS  ARTICLE  EQUAL  TO  ONE  HUNDRED
PERCENT OF PATENT FEES, BUT NOT TO EXCEED FIFTEEN HUNDRED DOLLARS.
  (2) DEFINITIONS. FOR THE PURPOSES OF THIS SUBSECTION, THE TERM "PATENT
FEE"  SHALL MEAN PATENT APPLICATION FEES, PATENT SEARCH FEES, AND PATENT
EXAMINATION FEES.
  (3) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION 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 SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, NO INTEREST SHALL BE PAID THEREON.
  (4) NO CREDIT SHALL BE ALLOWED UNDER THIS SUBSECTION TO A TAXPAYER FOR
ANY  PATENT FEE IF THE TAXPAYER CLAIMS ANY OTHER CREDIT UNDER THIS ARTI-
CLE FOR SUCH PATENT.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2015.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03603-01-5

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