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A04574 Text:

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

                                         4574

                              2013-2014 Regular Sessions

                                 I N  A S S E M B L Y

                                   February 6, 2013
                                      ___________

       Introduced  by M. of A. KOLB, GIGLIO, CORWIN, P. LOPEZ, RAIA, MONTESANO,
         RYAN -- Multi-Sponsored by -- M. of A. CERETTO, TENNEY  --  read  once
         and referred to the Committee on Ways and Means

       AN  ACT  to  amend  the  tax  law, in relation to providing for a credit
         against the personal income tax and the franchise tax on  corporations
         for  certain  bottling,  packaging and labelling expenses of wineries,
         breweries and distilleries

         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:

    1    Section  1.  Section  210  of  the  tax law is amended by adding a new
    2  subdivision 18-a to read as follows:
    3    18-A. (A) A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED
    4  BY THIS ARTICLE EQUAL TO THE AMOUNT ACTUALLY EXPENDED ON AND AFTER JANU-
    5  ARY FIRST, TWO THOUSAND THIRTEEN FOR CASES, BOTTLES,  CARAFES  OR  OTHER
    6  CONTAINERS  IN  WHICH WINE, LIQUOR, OR BEER PRODUCED FOR RESALE IS PACK-
    7  AGED AND FOR CORKS AND LABELS USED IN AND ON SUCH  CONTAINERS;  PROVIDED
    8  SUCH  TAXPAYER  IS LICENSED AS A WINERY, DISTILLERY, OR BREWERY PURSUANT
    9  TO THE PROVISIONS OF SECTION SEVENTY-SIX, SIXTY-ONE OR FIFTY-ONE OF  THE
   10  ALCOHOLIC  BEVERAGE  CONTROL  LAW;  PROVIDED  THAT THIS SUBDIVISION ONLY
   11  APPLIES TO BREWERS THAT PRODUCE SIXTY MILLION OR FEWER GALLONS  OF  BEER
   12  IN THIS STATE.
   13    (B)  IN NO EVENT SHALL THE CREDIT HEREIN PROVIDED FOR BE ALLOWED IN AN
   14  AMOUNT WHICH WILL REDUCE THE TAX PAYABLE TO LESS THAN THE MINIMUM  FIXED
   15  BY  PARAGRAPH  (D) OF SUBDIVISION ONE OF THIS SECTION.  IF, HOWEVER, THE
   16  AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR ANY  TAXABLE  YEAR
   17  REDUCES  THE  TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN
   18  SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND
   19  MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   20    S 2. Section 606 of the tax law is amended by adding a new  subsection
   21  (vv) to read as follows:

        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05912-01-3
       A. 4574                             2

    1    (VV)  (1) A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED
    2  BY THIS ARTICLE EQUAL TO THE AMOUNT ACTUALLY EXPENDED ON AND AFTER JANU-
    3  ARY FIRST, TWO THOUSAND THIRTEEN FOR CASES, BOTTLES,  CARAFES  OR  OTHER
    4  CONTAINERS IN WHICH WINE, LIQUOR OR BEER PRODUCED FOR RESALE IS PACKAGED
    5  AND  FOR  CORKS AND LABELS USED IN AND ON SUCH CONTAINERS; PROVIDED SUCH
    6  TAXPAYER IS LICENSED AS A WINERY, DISTILLERY OR BREWERY PURSUANT TO  THE
    7  PROVISIONS  OF  SECTION SEVENTY-SIX, SIXTY-ONE OR FIFTY-ONE OF THE ALCO-
    8  HOLIC BEVERAGE CONTROL LAW; PROVIDED THAT  THIS  SUBSECTION  SHALL  ONLY
    9  APPLY  TO  BREWERIES THAT PRODUCE SIXTY MILLION GALLONS OF BEER OR FEWER
   10  IN THIS STATE.
   11    (2) IN NO EVENT SHALL THE AMOUNT OF THE CREDIT HEREIN PROVIDED FOR  BE
   12  ALLOWED  IN EXCESS OF THE TAXPAYER'S TAX FOR SUCH YEAR.  HOWEVER, IF THE
   13  AMOUNT OF CREDIT OTHERWISE ALLOWABLE UNDER THIS SUBSECTION FOR ANY TAXA-
   14  BLE YEAR RESULTS IN SUCH EXCESS AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCT-
   15  IBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING  YEAR  OR
   16  YEARS  AND  MAY  BE  DEDUCTED  FROM  THE TAXPAYER'S TAX FOR SUCH YEAR OR
   17  YEARS.
   18    S 3. This act shall take effect immediately.
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