S T A T E O F N E W Y O R K
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11728
I N A S S E M B L Y
September 16, 2026
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Introduced by COMMITTEE ON RULES -- (at request of M. of A. Woerner) --
read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to increasing the maximum
amount of sales tax credit allowed to vendors
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph 2 of subdivision (f) of section 1137 of the tax
law, as amended by section 1 of part H of chapter 62 of the laws of
2006, is amended to read as follows:
(2) The amount of the credit authorized by paragraph one of this
subdivision shall be five percent of the amount of taxes and fees (but
not including any penalty or interest thereon) required to be reported
on, and paid or paid over with, the return but only if the return is
filed on or before the filing due date, but not more than [two] FIVE
hundred dollars, for each quarterly or longer period, except that, with
respect to returns required to be filed for quarterly or longer periods
ending on or before the last day of February, two thousand seven, the
amount of the credit shall be not more than one hundred seventy-five
dollars for each such quarterly or longer period.
§ 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2027.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16350-01-6