S T A T E O F N E W Y O R K
________________________________________________________________________
8459
2023-2024 Regular Sessions
I N A S S E M B L Y
December 29, 2023
___________
Introduced by M. of A. BYRNES -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to advance payments of a
portion of the farm employer overtime tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraphs 1 and 2 of subdivision (h) of section 42-a of
the tax law, as added by section 2 of subpart C of part B of chapter 59
of the laws of 2022, are amended to read as follows:
(1) (I) Taxpayers shall have the option to request an advance payment
of the portion of the amount of tax credit they are allowed under this
section for the amount of eligible overtime that the farm employer paid
from January first through [July] MARCH thirty-first. To be eligible for
the advance payment, the farm employer must submit by [September thirti-
eth] MAY THIRTY-FIRST a properly completed application to the department
of agriculture and markets, in a form prescribed by the commissioner of
agriculture and markets, that demonstrates how much the farm employer
paid in eligible overtime during that period.
(II) TAXPAYERS SHALL HAVE THE OPTION TO REQUEST AN ADVANCE PAYMENT OF
THE PORTION OF THE AMOUNT OF TAX CREDIT THEY ARE ALLOWED UNDER THIS
SECTION FOR THE AMOUNT OF ELIGIBLE OVERTIME THAT THE FARM EMPLOYER PAID
FROM APRIL FIRST THROUGH JUNE THIRTIETH. TO BE ELIGIBLE FOR THE ADVANCE
PAYMENT, THE FARM EMPLOYER MUST SUBMIT BY AUGUST THIRTY-FIRST A PROPERLY
COMPLETED APPLICATION TO THE DEPARTMENT OF AGRICULTURE AND MARKETS, IN A
FORM PRESCRIBED BY THE COMMISSIONER OF AGRICULTURE AND MARKETS, THAT
DEMONSTRATES HOW MUCH THE FARM EMPLOYER PAID IN ELIGIBLE OVERTIME DURING
THAT PERIOD.
(III) TAXPAYERS SHALL HAVE THE OPTION TO REQUEST AN ADVANCE PAYMENT OF
THE PORTION OF THE AMOUNT OF TAX CREDIT THEY ARE ALLOWED UNDER THIS
SECTION FOR THE AMOUNT OF ELIGIBLE OVERTIME THAT THE FARM EMPLOYER PAID
FROM JULY FIRST THROUGH SEPTEMBER THIRTIETH. TO BE ELIGIBLE FOR THE
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13562-02-3
A. 8459 2
ADVANCE PAYMENT, THE FARM EMPLOYER MUST SUBMIT BY NOVEMBER THIRTIETH A
PROPERLY COMPLETED APPLICATION TO THE DEPARTMENT OF AGRICULTURE AND
MARKETS, IN A FORM PRESCRIBED BY THE COMMISSIONER OF AGRICULTURE AND
MARKETS, THAT DEMONSTRATES HOW MUCH THE FARM EMPLOYER PAID IN ELIGIBLE
OVERTIME DURING THAT PERIOD.
(IV) After reviewing a farm employer's completed application for the
advance payment of a portion of the amount of tax credit allowed under
this section, the department of agriculture and markets may issue to
that farm employer a certificate of tax credit that specifies the exact
amount of the tax credit under this article that a taxpayer may claim as
an advance payment pursuant to this subdivision.
(2) (I) A taxpayer must submit a request to the department in the
manner prescribed by the commissioner after it has been issued a certif-
icate of tax credit by the department of agriculture and markets pursu-
ant to SUBPARAGRAPH (I) OF paragraph one of this subdivision (or such
certificate has been issued to a partnership, limited liability company
or subchapter S corporation in which it is a partner, member or share-
holder, respectively, that is a farm employer), but such request must be
submitted no later than [November] JULY first of the taxable year for
which the credit is being claimed.
(II) A TAXPAYER MUST SUBMIT A REQUEST TO THE DEPARTMENT IN THE MANNER
PRESCRIBED BY THE COMMISSIONER AFTER IT HAS BEEN ISSUED A CERTIFICATE OF
TAX CREDIT BY THE DEPARTMENT OF AGRICULTURE AND MARKETS PURSUANT TO
SUBPARAGRAPH (II) OF PARAGRAPH ONE OF THIS SUBDIVISION (OR SUCH CERTIF-
ICATE HAS BEEN ISSUED TO A PARTNERSHIP, LIMITED LIABILITY COMPANY OR
SUBCHAPTER S CORPORATION IN WHICH IT IS A PARTNER, MEMBER OR SHAREHOLD-
ER, RESPECTIVELY, THAT IS A FARM EMPLOYER), BUT SUCH REQUEST MUST BE
SUBMITTED NO LATER THAN OCTOBER FIRST OF THE TAXABLE YEAR FOR WHICH THE
CREDIT IS BEING CLAIMED.
(III) A TAXPAYER MUST SUBMIT A REQUEST TO THE DEPARTMENT IN THE MANNER
PRESCRIBED BY THE COMMISSIONER AFTER IT HAS BEEN ISSUED A CERTIFICATE OF
TAX CREDIT BY THE DEPARTMENT OF AGRICULTURE AND MARKETS PURSUANT TO
SUBPARAGRAPH (III) OF PARAGRAPH ONE OF THIS SUBDIVISION (OR SUCH CERTIF-
ICATE HAS BEEN ISSUED TO A PARTNERSHIP, LIMITED LIABILITY COMPANY OR
SUBCHAPTER S CORPORATION IN WHICH IT IS A PARTNER, MEMBER OR SHAREHOLD-
ER, RESPECTIVELY, THAT IS A FARM EMPLOYER), BUT SUCH REQUEST MUST BE
SUBMITTED NO LATER THAN JANUARY FIRST OF THE CALENDAR YEAR FOLLOWING THE
TAXABLE YEAR FOR WHICH THE CREDIT IS BEING CLAIMED.
(IV) For those taxpayers who have requested an advance payment PURSU-
ANT TO SUBPARAGRAPHS (I), (II), OR (III) OF THIS PARAGRAPH and for whom
the commissioner has determined to be eligible for this credit, the
commissioner shall advance a payment of the portion of the amount of tax
credit allowed to the taxpayer. The taxpayer will claim on the taxpay-
ers' return for the taxable year the portion of the amount of tax credit
allowed for eligible overtime paid by the farm employer from [August]
OCTOBER first through December thirty-first. The taxpayer must properly
reconcile the advance payment of tax credit allowed under this subdivi-
sion on the taxpayer's return.
§ 2. This act shall take effect January 1, 2025.