NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A2483
TITLE OF BILL:
An act to amend the tax law, in relation to certain manufacturers
Adjust the calculation of various components of the wage tax credits
under subdivision (k) of section 606 of the tax law for certain manufac-
turers certified in the empire zone.
SUMMARY OF PROVISIONS:
Section 1. Makes provisions for the calculation of the empire zone wage
tax credits under section 606(k) of the tax law for certain manufactur-
Section 2. Effective date.
Empire zone enterprises are vital businesses within our communities that
encourage job growth and foster economic development. And, this is espe-
cially true in areas of New York which have seen a steady loss of manu-
facturing jobs in recent years. As an incentive to participate in the
Empire Zones Program, certified entities qualify for tax credits and
refunds. For example, under New York State tax law, an empire zone
enterprise that grows employment after its certification date is enti-
tled to certain wage tax credits based on the amount of increase.
Businesses seeking to participate in the Empire Zones Program must be
certified by the local Zone Administrative Board before certification by
the State Department of Economic Development. The date of designation of
lands and certification of the company by the local Zone Administrative
Board is critical to the calculation of the wage tax credits under the
Program because the business must grow its employment after established
dates to receive these credits. This bill would allow certain manufac-
turers who have complied with the spirit of the law, and have relied on
the wage tax credit as a significant component of its budget, to receive
five years of wage tax credits as originally intended under the Empire
PRIOR LEGISLATIVE HISTORY:
This act shall take effect immediately and shall apply to taxable years
beginning on and after January 1, 2010.
STATE OF NEW YORK
2015-2016 Regular Sessions
January 16, 2015
Introduced by M. of A. MAGEE -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to certain manufacturers
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subsection (k) of section 606 of the tax law is amended by
2 adding a new paragraph 3-a to read as follows:
3 (3-a) In the case of a manufacturer: (i) that has acquired the assets
4 of a plastics manufacturer previously operating in New York state, (ii)
5 is certified as an empire zone enterprise with an effective date on or
6 after January first, two thousand nine, and (iii) employs an average of
7 more than thirty full-time employees each year in which it qualifies for
8 a credit under this subsection, then, such manufacturer shall be deemed
9 to have an employment number as of such certified entity's empire zone
10 designation date of zero; shall be eligible to claim wage tax credits
11 provided for by this subsection for tax year two thousand ten and the
12 four tax years then following; and shall be deemed to be a new business
13 for purposes of this subsection for tax year two thousand ten and the
14 four tax years then following.
15 § 2. This act shall take effect immediately and shall apply to all
16 taxable years beginning on or after January 1, 2010.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 is old law to be omitted.