assembly Bill A10543

2019-2020 Legislative Session

Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases

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Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 28, 2020 referred to ways and means

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A10543 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A3566

A10543 (ACTIVE) - Summary

Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases.

A10543 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10543
 
                           I N  A S S E M B L Y
 
                               May 28, 2020
                                ___________
 
 Introduced  by  COMMITTEE  ON RULES -- (at request of M. of A. Ashby) --
   read once and referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing a  small  busi-
   ness  tax credit for certain efforts taken to improve such small busi-
   ness's facility in an  effort  to  reduce  the  spread  of  infectious
   diseases

   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 55 to read as follows:
   55.  SMALL  BUSINESS  TAX  CREDIT; INFECTIOUS DISEASE MITIGATION.  (A)
 GENERAL. A TAXPAYER THAT IS A SMALL BUSINESS SHALL BE ALLOWED A  CREDIT,
 TO  BE COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED
 BY THIS ARTICLE FOR EFFORTS TAKEN TO IMPROVE SUCH TAXPAYER'S FACILITY IN
 AN EFFORT TO REDUCE THE SPREAD OF INFECTIOUS DISEASES.
   (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY  THIS  SECTION  SHALL  BE
 EQUAL TO THE AMOUNT OF MONEY SPENT BY AN ELIGIBLE TAXPAYER TO CONSTRUCT,
 INSTALL, BUILD, AND/OR EQUIP SUCH TAXPAYER'S FACILITY WITH NEW AMENITIES
 PRIMARILY  INTENDED  TO  REDUCE  THE  SPREAD OF INFECTIOUS DISEASES, BUT
 SHALL NOT EXCEED FIVE THOUSAND DOLLARS TOTAL  FOR  EACH  LOCATION  WHERE
 SUCH  NEW  AMENITIES  HAVE  BEEN  CONSTRUCTED,  INSTALLED, BUILT, AND/OR
 EQUIPPED.
   (C) CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXA-
 BLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR  TO  LESS  THAN  THE
 AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D) OF SUBDIVISION ONE OF SECTION TWO
 HUNDRED TEN OF THIS ARTICLE. HOWEVER, IF THE AMOUNT OF CREDIT  ALLOWABLE
 UNDER  THIS  SUBDIVISION  FOR  ANY  TAXABLE YEAR REDUCES THE TAX TO SUCH
 AMOUNT OR IF THE TAXPAYER OTHERWISE PAYS TAX BASED ON THE  FIXED  DOLLAR
 MINIMUM AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR
 MAY  BE  CARRIED  OVER TO THE FOLLOWING THREE YEARS, AND MAY BE DEDUCTED
 FROM THE QUALIFIED EMPLOYER'S TAX FOR SUCH YEARS.
   (D) DEFINITIONS. AS USED IN THIS SUBDIVISION, THE  TERM  "SMALL  BUSI-
 NESS" SHALL MEAN ANY BUSINESS HAVING FIFTY OR FEWER EMPLOYEES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.