Provides a credit against personal income tax and corporate franchise tax for wine bottling, packaging and labelling expenses of wineries licensed pursuant to certain provisions of the alcoholic beverage control law; allows any amount of credit not deducted in a tax year to be carried over to the following tax year or years.
STATE OF NEW YORK
________________________________________________________________________
3906
2011-2012 Regular Sessions
IN SENATE
March 9, 2011
___________
Introduced by Sen. LAVALLE -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations
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
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 twelve for cases, bottles, carafes or other
6 containers in which wine produced for resale is packaged and for corks
7 and labels used in and on such containers; provided such taxpayer is
8 licensed as a winery pursuant to the provisions of section seventy-six
9 of the alcoholic beverage control law.
10 (b) In no event shall the credit herein provided for be allowed in an
11 amount which will reduce the tax payable to less than the minimum fixed
12 by paragraph (d) of subdivision one of this section. If, however, the
13 amount of credit allowable under this subdivision for any taxable year
14 reduces the tax to such amount, any amount of credit not deductible in
15 such taxable year may be carried over to the following year or years and
16 may be deducted from the taxpayer's tax for such year or years.
17 § 2. Section 606 of the tax law is amended by adding a new subsection
18 (ss) to read as follows:
19 (ss) (1) A taxpayer shall be allowed a credit against the tax imposed
20 by this article equal to the amount actually expended on and after Janu-
21 ary first, two thousand twelve for cases, bottles, carafes or other
22 containers in which wine produced for resale is packaged and for corks
23 and labels used in and on such containers; provided such taxpayer is
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05187-01-1
S. 3906 2
1 licensed as a winery pursuant to the provisions of section seventy-six
2 of the alcoholic beverage control law.
3 (2) In no event shall the amount of the credit herein provided for be
4 allowed in excess of the taxpayer's tax for such year. However, if the
5 amount of credit otherwise allowable under this subsection for any taxa-
6 ble year results in such excess amount, any amount of credit not deduct-
7 ible in such taxable year may be carried over to the following year or
8 years and may be deducted from the taxpayer's tax for such year or
9 years.
10 § 3. This act shall take effect immediately.
