Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
IMB credit for energy taxes
* § 14-a. IMB credit for energy taxes. (a) Allowance of credit. A
taxpayer which is an industrial or manufacturing business (IMB), or
which is a sole proprietor of an IMB or a member of a partnership which
is an IMB, and which is subject to tax under article nine-A or
twenty-two of this chapter, shall be allowed a credit against such tax,
pursuant to the provisions referenced in subdivision (d) of this
section. Such credit shall be equal to the sum (or pro rata share of the
sum, in the case of a member of a partnership) of the taxes imposed
under sections one hundred eighty-six-a, one hundred eighty-six-c, one
hundred eighty-nine and one hundred eighty-nine-a of this chapter which
during the taxable year were either paid by, or passed through to, the
IMB, on or after January first, two thousand, but only with regard to
gas, electricity, steam, water or refrigeration, or gas, electric,
steam, water or refrigeration services, consumed or used by the IMB in
this state.

(b) Definitions. The term "industrial or manufacturing business" shall
mean a business which during the taxable year is principally engaged in
activities described in clause (A), (B) or (C), or any combination
thereof, of subparagraph (i) of paragraph (b) of subdivision twelve of
section two hundred ten of this chapter.

(c) Any person who collects from, or passes through to, the IMB, any
tax as described in subdivision (a) of this section, shall provide the
IMB with the information with respect to such tax passed through which
may be required to enable the taxpayer to correctly compute the credit
provided for in this section.

(d) Cross-references. For application of the credit provided for in
this section, see the following provisions of this chapter:

(1) Article 9-A: Section 210.26-a.

(2) Article 22: Sections 606(i) and (t-1).

* NB Expired for taxable years ending on and after January 1, 2007