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Assembly Bill A4135

2017-2018 Legislative Session

Relates to the empire zone wage tax credit for certain manufacturers

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Archive: Last Bill Status - In Assembly Committee

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2017-A4135 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9997
2015-2016: A2483

2017-A4135 (ACTIVE) - Summary

Relates to the empire zone wage tax credit for certain manufacturers.

2017-A4135 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4135
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2017
                                ___________
 
 Introduced  by M. of A. MAGEE -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation to certain manufacturers
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1. Subsection (k) of section 606 of the tax law is amended by
 adding a new paragraph 3-a to read as follows:
   (3-A) IN THE CASE OF A MANUFACTURER: (I) THAT HAS ACQUIRED THE  ASSETS
 OF  A PLASTICS MANUFACTURER PREVIOUSLY OPERATING IN NEW YORK STATE, (II)
 IS CERTIFIED AS AN EMPIRE ZONE ENTERPRISE WITH AN EFFECTIVE DATE  ON  OR
 AFTER  JANUARY FIRST, TWO THOUSAND NINE, AND (III) EMPLOYS AN AVERAGE OF
 MORE THAN THIRTY FULL-TIME EMPLOYEES EACH YEAR IN WHICH IT QUALIFIES FOR
 A CREDIT UNDER THIS SUBSECTION, THEN, SUCH MANUFACTURER SHALL BE  DEEMED
 TO  HAVE  AN EMPLOYMENT NUMBER AS OF SUCH CERTIFIED ENTITY'S EMPIRE ZONE
 DESIGNATION DATE OF ZERO; SHALL BE ELIGIBLE TO CLAIM  WAGE  TAX  CREDITS
 PROVIDED  FOR  BY  THIS SUBSECTION FOR TAX YEAR TWO THOUSAND TEN AND THE
 FOUR TAX YEARS THEN FOLLOWING; AND SHALL BE DEEMED TO BE A NEW  BUSINESS
 FOR  PURPOSES  OF  THIS SUBSECTION FOR TAX YEAR TWO THOUSAND TEN AND THE
 FOUR TAX YEARS THEN FOLLOWING.
   § 2. This act shall take effect immediately and  shall  apply  to  all
 taxable years beginning on or after January 1, 2010.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08818-01-7

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