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A07767 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7767
 
                               2013-2014 Regular Sessions
 
                   IN ASSEMBLY
 
                                      June 4, 2013
                                       ___________
 
        Introduced by M. of A. LENTOL -- read once and referred to the Committee
          on Ways and Means
 
        AN  ACT  to  amend  the  administrative code of the city of New York, in
          relation to establishing a credit for beer produced within the city of
          New York by a taxpayer that is registered as a distributor under arti-
          cle eighteen of the tax law
 

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section  11-503 of the administrative code of the city of
     2  New York is amended by adding a new subdivision (p) to read as follows:
     3    (p) Beer production credit. (1) A taxpayer subject to tax  under  this
     4  chapter,  that  is registered as a distributor under article eighteen of
     5  the tax law, and that produces sixty million or fewer gallons of beer in
     6  this state in the taxable year, shall be allowed a  credit  against  the
     7  tax  imposed by this chapter in the amount specified in paragraph two of
     8  this subdivision. Provided, however, that no credit shall be allowed for
     9  any beer produced in excess of fifteen  million  five  hundred  thousand

    10  gallons  in the taxable year.  Notwithstanding anything to the contrary,
    11  if a partnership is allowed a credit under this subdivision,  a  partner
    12  in such partnership shall not be allowed a credit under this subdivision
    13  for  any taxable year that includes the last day of the taxable year for
    14  which the partnership is allowed such credit.
    15    (2) The amount of the credit per taxpayer per taxable  year  for  each
    16  gallon  of  beer  produced  in  the city of New York on or after January
    17  first, two thousand fourteen shall be determined as follows:
    18    (i) for the first five hundred thousand gallons of  beer  produced  in
    19  the  city of New York in the taxable year, the credit shall equal twelve
    20  cents per gallon; and

    21    (ii) for each gallon of beer produced in the city of New York  in  the
    22  taxable  year  in  excess  of  five hundred thousand gallons, the credit
    23  shall equal three and eighty-six one hundredths cents  per  gallon.  The
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11248-01-3

        A. 7767                             2
 
     1  credit  allowed  under  this  subdivision  for any taxable year shall be
     2  treated as an overpayment of tax to be credited or refunded  in  accord-
     3  ance  with  the  provisions of section 11-526 of this chapter; provided,

     4  however,  that  notwithstanding the provisions of section 11-528 of this
     5  chapter, no interest shall be paid thereon.
     6    § 2. Section 11-604 of the administrative code of the city of New York
     7  is amended by adding a new subdivision 22 to read as follows:
     8    22. Beer production credit. (a) A taxpayer subject to tax  under  this
     9  subchapter,  that  is registered as a distributor under article eighteen
    10  of the tax law, and that produces sixty million or fewer gallons of beer
    11  in this state in the taxable year, shall be allowed a credit against the
    12  tax imposed by this subchapter in the amount specified in paragraph  (b)
    13  of  this subdivision. Provided, however, that no credit shall be allowed
    14  for any beer produced in excess of fifteen million five hundred thousand

    15  gallons in the taxable year. Notwithstanding anything to  the  contrary,
    16  if  a  partnership  is allowed a credit under subdivision (p) of section
    17  11-503 of this title, a taxpayer that is a partner in  such  partnership
    18  shall  not  be  allowed  a credit under this subdivision for any taxable
    19  year that includes the last day of the taxable year for which the  part-
    20  nership is allowed such credit.
    21    (b)  The  amount  of the credit per taxpayer per taxable year for each
    22  gallon of beer produced in the city of New  York  on  or  after  January
    23  first, two thousand fourteen shall be determined as follows:
    24    (1)  for  the  first five hundred thousand gallons of beer produced in
    25  the city of New York in the taxable year, the credit shall equal  twelve

    26  cents per gallon; and
    27    (2)  for  each  gallon of beer produced in the city of New York in the
    28  taxable year in excess of five  hundred  thousand  gallons,  the  credit
    29  shall  equal three and eighty-six one hundredths cents per gallon. In no
    30  event shall the credit allowed under this subdivision  for  any  taxable
    31  year reduce the tax due for such year to less than the amount prescribed
    32  in  clause four of subparagraph (a) of paragraph E of subdivision one of
    33  this section. However, if the amount of credit allowed under this subdi-
    34  vision for any taxable year reduces the tax to such amount,  any  amount
    35  of  credit  thus not deductible in such taxable year shall be treated as
    36  an overpayment of tax to be credited or refunded in accordance with  the

    37  provisions  of  section  11-677 of this chapter; provided, however, that
    38  notwithstanding the provisions of section 11-679  of  this  chapter,  no
    39  interest shall be paid thereon.
    40    §  3. This act shall take effect immediately, and shall apply to taxa-
    41  ble years beginning on or after January 1, 2014.
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