| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 05, 2022 |
referred to budget and revenue |
| May 04, 2021 |
reported and committed to finance |
| Mar 10, 2021 |
notice of committee consideration - requested |
| Jan 15, 2021 |
referred to budget and revenue |
Senate Bill S1799
2021-2022 Legislative Session
Sponsored By
(R, C) 57th Senate District
Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee
Actions
Votes
co-Sponsors
(R, C, IP, RFM) Senate District
(R, C) 60th Senate District
(R, C, IP, RFM) Senate District
(R, C) 58th Senate District
2021-S1799 (ACTIVE) - Details
2021-S1799 (ACTIVE) - Summary
Establishes a first permanent payroll employee tax credit which allows a business to receive a tax credit for the three years following the employment of such business' first permanent payroll employee where such credit equals a portion of the amount it costs to employ such permanent payroll employee.
2021-S1799 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1799
SPONSOR: BORRELLO
TITLE OF BILL:
An act to amend the tax law, in relation to establishing a first perma-
nent payroll employee tax credit
PURPOSE:
The purpose of this bill is to establish a first permanent payroll
employee tax credit.
SUMMARY OF PROVISIONS:
Section 1 of the bill amends Section 210-a of the Tax Law by adding a
new subdivision 55. This allows for a business tax credit to be avail-
able for each of the three years succeeding the date a taxpayer employs
their first full time permanent employee. The amount for the credit in
the first year is 25 percent of the total cost to' employ a full-time,
permanent employee; second year, 20 percent and the third year, 10
2021-S1799 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
1799
2021-2022 Regular Sessions
I N S E N A T E
January 15, 2021
___________
Introduced by Sens. BORRELLO, AKSHAR, GALLIVAN, JORDAN, O'MARA, ORTT,
RITCHIE, TEDISCO -- read twice and ordered printed, and when printed
to be committed to the Committee on Budget and Revenue
AN ACT to amend the tax law, in relation to establishing a first perma-
nent payroll employee tax credit
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. FIRST PERMANENT PAYROLL EMPLOYEE CREDIT. (A) GENERAL. A TAXPAYER
SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBDIVI-
SION, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE FIRST FULL-TIME,
PERMANENT EMPLOYEE SUCH TAXPAYER EMPLOYS, PROVIDED THAT SUCH FULL-TIME,
PERMANENT EMPLOYEE IS ACCOUNTED FOR ON SUCH TAXPAYER'S EMPLOYER PAYROLL
RECORDS. SUCH CREDIT SHALL BE AVAILABLE FOR EACH OF THE THREE YEARS
SUCCEEDING THE DATE A TAXPAYER EMPLOYS THEIR FIRST FULL-TIME, PERMANENT
EMPLOYEE.
(B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SUBDIVISION SHALL BE
EQUAL TO:
(1) IN THE FIRST YEAR, TWENTY-FIVE PERCENT OF THE TOTAL COST TO EMPLOY
A FULL-TIME, PERMANENT EMPLOYEE, WHEN SUCH EMPLOYEE IS ACCOUNTED FOR ON
AN EMPLOYER'S PAYROLL RECORDS AND IS THE FIRST FULL-TIME, PERMANENT
EMPLOYEE SUCH TAXPAYER HAS HIRED;
(2) IN THE SECOND YEAR, TWENTY PERCENT OF THE TOTAL COST TO EMPLOY A
FULL-TIME, PERMANENT EMPLOYEE, WHEN SUCH EMPLOYEE IS ACCOUNTED FOR ON AN
EMPLOYER'S PAYROLL RECORDS AND IS THE FIRST FULL-TIME, PERMANENT EMPLOY-
EE SUCH TAXPAYER HAS HIRED; AND
(3) IN THE THIRD YEAR, TEN PERCENT OF THE TOTAL COST TO EMPLOY A FULL-
TIME, PERMANENT EMPLOYEE, WHEN SUCH EMPLOYEE IS ACCOUNTED FOR ON AN
EMPLOYER'S PAYROLL RECORDS AND IS THE FIRST FULL-TIME, PERMANENT EMPLOY-
EE SUCH TAXPAYER HAS HIRED.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
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