Creates a doing business with a vocational program tax credit equal to one hundred percent of the purchases made by the taxpayer to a business that is a vocational program.
STATE OF NEW YORK
________________________________________________________________________
9568
IN ASSEMBLY
January 23, 2018
___________
Introduced by M. of A. CROUCH -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to creating a doing business
with a vocational program tax credit
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 606 of the tax law is amended by adding a new
2 subsection (iii) to read as follows:
3 (iii) Doing business with a vocational program tax credit. (1) Allow-
4 ance of credit. A taxpayer who owns a business that makes purchases from
5 a vocational program shall be allowed a credit, to be computed as
6 provided in paragraph three of this subsection, against the tax imposed
7 by this article. To qualify for the credit provided in this section, a
8 taxpayer must be a New York resident and own a business located in New
9 York.
10 (2) Definition. For the purposes of this subsection, the term "voca-
11 tional program" shall have the same definition as set forth by the
12 commissioner of the office of people with developmental disabilities.
13 (3) Amount of credit. The amount of credit shall equal one hundred
14 percent of the purchases made by the taxpayer to a business that is a
15 vocational program.
16 (4) Application of credit. If the amount of the credit allowed under
17 this subsection for any taxable year shall exceed the taxpayer's tax for
18 such year, the excess shall be treated as an overpayment of tax to be
19 credited or refunded in accordance with the provisions of section six
20 hundred eighty-six of this article, provided, however, that no interest
21 shall be paid thereon.
22 § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
23 of the tax law is amended by adding a new clause (xliv) to read as
24 follows:
25 (xliv) Doing business with aAmount of credit
26 vocational programunder subdivision
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13863-01-7
A. 9568 2
1 tax credit underfifty-three of section
2 subsection (iii)two hundred ten-B
3 § 3. Section 210-B of the tax law is amended by adding a new subdivi-
4 sion 53 to read as follows:
5 53. Doing business with a vocational program tax credit. (a) Allowance
6 of credit. A taxpayer who owns a business that makes purchases from a
7 vocational program shall be allowed a credit, to be computed as provided
8 in paragraph (c) of this subdivision, against the tax imposed by this
9 article. To qualify for the credit provided in this section, a taxpayer
10 must be a New York resident and own a business located in New York.
11 (b) Definition. For the purposes of this subdivision, the term "voca-
12 tional program" shall have the same definition as set forth by the
13 commissioner of the office of people with developmental disabilities.
14 (c) Amount of credit. The amount of credit shall equal one hundred
15 percent of the purchases made by the taxpayer to a business that is a
16 vocational program.
17 (d) Application of credit. If the amount of the credit allowed under
18 this subdivision for any taxable year shall exceed the taxpayer's tax
19 for such year, the excess shall be treated as an overpayment of tax to
20 be credited or refunded in accordance with the provisions of section six
21 hundred eighty-six of this chapter, provided, however, that no interest
22 shall be paid thereon.
23 § 4. This act shall take effect immediately and shall apply to all
24 taxable years beginning on and after January 1, 2018.
