S T A T E   O F   N E W   Y O R K
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                                  5422

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 23, 2015
                               ___________

Introduced  by  M.  of  A. KOLB, GIGLIO, CORWIN, LOPEZ, RAIA, MONTESANO,
  RYAN -- Multi-Sponsored by -- M. of A. CERETTO, TENNEY  --  read  once
  and referred to the Committee on Ways and Means

AN  ACT  to  amend  the  tax  law, in relation to providing for a credit
  against the personal income tax and the franchise tax on  corporations
  for  certain  bottling,  packaging and labelling expenses of wineries,
  breweries and distilleries

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

  Section  1.  Section  210-B  of the tax law is amended by adding a new
subdivision 49 to read as follows:
  49. (A) A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE  TAX  IMPOSED
BY THIS ARTICLE EQUAL TO THE AMOUNT ACTUALLY EXPENDED ON AND AFTER JANU-
ARY  FIRST,  TWO  THOUSAND  FIFTEEN FOR CASES, BOTTLES, CARAFES OR OTHER
CONTAINERS IN WHICH WINE, LIQUOR, OR BEER PRODUCED FOR RESALE  IS  PACK-
AGED  AND  FOR CORKS AND LABELS USED IN AND ON SUCH CONTAINERS; PROVIDED
SUCH TAXPAYER IS LICENSED AS A WINERY, DISTILLERY, OR  BREWERY  PURSUANT
TO  THE PROVISIONS OF SECTION SEVENTY-SIX, SIXTY-ONE OR FIFTY-ONE OF THE
ALCOHOLIC BEVERAGE CONTROL LAW;  PROVIDED  THAT  THIS  SUBDIVISION  ONLY
APPLIES  TO  BREWERS THAT PRODUCE SIXTY MILLION OR FEWER GALLONS OF BEER
IN THIS STATE.
  (B) IN NO EVENT SHALL THE CREDIT HEREIN PROVIDED FOR BE ALLOWED IN  AN
AMOUNT  WHICH WILL REDUCE THE TAX PAYABLE TO LESS THAN THE MINIMUM FIXED
BY PARAGRAPH (D) OF SUBDIVISION ONE OF SECTION TWO HUNDRED TEN  OF  THIS
ARTICLE.   IF, HOWEVER, THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDI-
VISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT,  ANY  AMOUNT
OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE
FOLLOWING  YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR
SUCH YEAR OR YEARS.
  S 2. Section 606 of the tax law is amended by adding a new  subsection
(ccc) to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03600-01-5
              

A. 5422                             2

  (CCC) (1) A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED
BY THIS ARTICLE EQUAL TO THE AMOUNT ACTUALLY EXPENDED ON AND AFTER JANU-
ARY  FIRST,  TWO  THOUSAND  FIFTEEN FOR CASES, BOTTLES, CARAFES OR OTHER
CONTAINERS IN WHICH WINE, LIQUOR OR BEER PRODUCED FOR RESALE IS PACKAGED
AND  FOR  CORKS AND LABELS USED IN AND ON SUCH CONTAINERS; PROVIDED SUCH
TAXPAYER IS LICENSED AS A WINERY, DISTILLERY OR BREWERY PURSUANT TO  THE
PROVISIONS  OF  SECTION SEVENTY-SIX, SIXTY-ONE OR FIFTY-ONE OF THE ALCO-
HOLIC BEVERAGE CONTROL LAW; PROVIDED THAT  THIS  SUBSECTION  SHALL  ONLY
APPLY  TO  BREWERIES THAT PRODUCE SIXTY MILLION GALLONS OF BEER OR FEWER
IN THIS STATE.
  (2) IN NO EVENT SHALL THE AMOUNT OF THE CREDIT HEREIN PROVIDED FOR  BE
ALLOWED  IN EXCESS OF THE TAXPAYER'S TAX FOR SUCH YEAR.  HOWEVER, IF THE
AMOUNT OF CREDIT OTHERWISE ALLOWABLE UNDER THIS SUBSECTION FOR ANY TAXA-
BLE YEAR RESULTS IN SUCH EXCESS AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCT-
IBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING  YEAR  OR
YEARS  AND  MAY  BE  DEDUCTED  FROM  THE TAXPAYER'S TAX FOR SUCH YEAR OR
YEARS.
  S 3. This act shall take effect immediately.