senate Bill S4680

2021-2022 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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 05, 2022 referred to budget and revenue
Feb 08, 2021 referred to budget and revenue

S4680 (ACTIVE) - Details

See Assembly Version of this Bill:
A3566
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in 2019-2020 Legislative Session:
A10543

S4680 (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.

S4680 (ACTIVE) - Sponsor Memo

S4680 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4680
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 8, 2021
                                ___________
 
 Introduced  by  Sen. PALUMBO -- 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  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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.