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Assembly Bill A3487

2021-2022 Legislative Session

Relates to the amount of credit for cider, wine, and liquor under the alcoholic beverage production credit

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Archive: Last Bill Status - In Assembly Committee

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2021-A3487 (ACTIVE) - Details

See Senate Version of this Bill:
S3972
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §37, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: A8996, S7396
2019-2020: A6485, S246
2023-2024: A1947, S3496

2021-A3487 (ACTIVE) - Summary

Relates to the amount of credit for cider, wine, and liquor produced in NYS under the alcoholic beverage production credit; provides parity with beer credit based on the taxes for cider, wine, and liquor.

2021-A3487 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3487
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2021
                                ___________
 
 Introduced  by M. of A. CLARK -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation to the  amount  of  credit  for
   cider, wine, and liquor under the alcoholic beverage production credit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 1 of subdivision (b) of section  37  of  the  tax
 law,  as  amended  by  section  1 of part V of chapter 60 of the laws of
 2016, is amended to read as follows:
   (1) for the first five hundred thousand gallons of:
   I. beer[, cider, wine or liquor] produced in this state in the taxable
 year, the credit shall equal fourteen cents per gallon; [and]
   II. CIDER, ARTIFICIALLY CARBONATED SPARKLING CIDER, AND NATURAL  SPAR-
 KLING  CIDER,  CONTAINING  MORE  THAN THREE AND TWO-TENTHS PER CENTUM OF
 ALCOHOL BY VOLUME PRODUCED IN THIS STATE IN THE TAXABLE YEAR, THE CREDIT
 SHALL EQUAL THREE AND SEVENTY-NINE HUNDREDTHS CENTS PER GALLON;
   III. STILL WINE, ARTIFICIALLY CARBONATED SPARKLING WINE,  AND  NATURAL
 SPARKLING  WINE  PRODUCED  IN THIS STATE IN THE TAXABLE YEAR, THE CREDIT
 SHALL EQUAL THIRTY CENTS PER GALLON;
   IV. LIQUORS CONTAINING NOT MORE THAN TWENTY-FOUR PER CENTUM OF ALCOHOL
 BY VOLUME, BUT MORE THAN TWO PER CENTUM OF ALCOHOL PER VOLUME,  PRODUCED
 IN  THIS  STATE  IN THE TAXABLE YEAR, THE CREDIT SHALL EQUAL TWO DOLLARS
 AND FIFTY-FOUR CENTS PER GALLON;
   V. LIQUORS CONTAINING MORE THAN ZERO PER CENTUM OF ALCOHOL BY  VOLUME,
 BUT  NOT MORE THAN TWO PER CENTUM OF ALCOHOL BY VOLUME, PRODUCED IN THIS
 STATE IN THE TAXABLE YEAR, THE CREDIT SHALL EQUAL ZERO;
   VI. ALL OTHER LIQUORS PRODUCED IN THIS STATE IN THE TAXABLE YEAR,  THE
 CREDIT SHALL EQUAL SIX DOLLARS AND FORTY-FOUR CENTS PER GALLON; AND
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2021.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05605-02-1

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