S T A T E O F N E W Y O R K
________________________________________________________________________
2715
2023-2024 Regular Sessions
I N A S S E M B L Y
January 26, 2023
___________
Introduced by M. of A. J. A. GIGLIO -- read once and referred to the
Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a tipped
employee minimum wage tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 606 of the tax law is amended by adding a new
subsection (ooo) to read as follows:
(OOO) TIPPED EMPLOYEE MINIMUM WAGE TAX CREDIT. (1) FOR TAXABLE YEARS
BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-FOUR, A TAXPAY-
ER WHO IS AN EMPLOYER OF MISCELLANEOUS INDUSTRY WORKERS, AS DEFINED IN
PART ONE HUNDRED FORTY-TWO OF TITLE TWELVE OF THE OFFICIAL COMPILATION
OF CODES, RULES, AND REGULATIONS OF THE STATE OF NEW YORK, SHALL BE
ALLOWED A CREDIT, TO BE COMPUTED IN PARAGRAPH TWO OF THIS SECTION,
AGAINST THE TAX IMPOSED BY THIS ARTICLE.
(2) FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOU-
SAND TWENTY-FOUR, THE AMOUNT OF CREDIT ALLOWED UNDER THIS SECTION SHALL
BE EQUAL TO THE TIP ALLOWANCE FOR MISCELLANEOUS INDUSTRY WORKERS EFFEC-
TIVE AS OF DECEMBER THIRTY-FIRST, TWO THOUSAND NINETEEN UNDER SUBPART
142-2.5 OF TITLE TWELVE OF THE OFFICIAL COMPILATION OF CODES, RULES, AND
REGULATIONS OF THE STATE OF NEW YORK FOR EACH MISCELLANEOUS INDUSTRY
WORKER EMPLOYEE.
(3) IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR THE TAXABLE YEAR, THE EXCESS
SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, NO INTEREST WILL BE PAID THEREON.
(4) THE COMMISSIONER OF TAXATION AND FINANCE, IN CONSULTATION WITH THE
COMMISSIONER OF LABOR, SHALL HAVE THE AUTHORITY TO PROMULGATE ANY RULES
OR REGULATIONS NECESSARY FOR THE IMPLEMENTATION OF THIS CREDIT.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07237-01-3
A. 2715 2
§ 2. Section 210-B of the tax law is amended by adding a new subdivi-
sion 59 to read as follows:
59. TIPPED EMPLOYEE MINIMUM WAGE TAX CREDIT. (A) FOR TAXABLE YEARS
BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-FOUR, A TAXPAY-
ER WHO IS AN EMPLOYER OF MISCELLANEOUS INDUSTRY WORKERS, AS DEFINED IN
PART ONE HUNDRED FORTY-TWO OF TITLE TWELVE OF THE OFFICIAL COMPILATION
OF CODES, RULES, AND REGULATIONS OF THE STATE OF NEW YORK, SHALL BE
ALLOWED A CREDIT, TO BE COMPUTED IN PARAGRAPH (B) OF THIS SUBDIVISION,
AGAINST THE TAX IMPOSED BY THIS ARTICLE.
(B) FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOU-
SAND TWENTY-FOUR, THE AMOUNT OF CREDIT ALLOWED UNDER THIS SECTION SHALL
BE EQUAL TO THE TIP ALLOWANCE FOR MISCELLANEOUS INDUSTRY WORKERS, EFFEC-
TIVE AS OF DECEMBER THIRTY-FIRST, TWO THOUSAND NINETEEN UNDER SUBPART
142-2.5 OF TITLE TWELVE OF THE OFFICIAL COMPILATION OF CODES, RULES, AND
REGULATIONS OF THE STATE OF NEW YORK FOR EACH MISCELLANEOUS INDUSTRY
WORKER EMPLOYEE.
(C) IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY
TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR THE TAXABLE YEAR, THE EXCESS
SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE; PROVIDED, HOWEVER, NO INTEREST WILL BE PAID THEREON.
(D) THE COMMISSIONER OF TAXATION AND FINANCE, IN CONSULTATION WITH THE
COMMISSIONER OF LABOR, SHALL HAVE THE AUTHORITY TO PROMULGATE ANY RULES
OR REGULATIONS NECESSARY FOR THE IMPLEMENTATION OF THIS CREDIT.
§ 3. This act shall take effect immediately.