Bill Text: NY A02979 | 2013-2014 | General Assembly | Introduced
Bill Title: Provides a tax credit against franchise taxes for small businesses that purchase and install a security system which shall be 50% of the cost of the system up to $750.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2014-01-08 - referred to ways and means [A02979 Detail]
Download: New_York-2013-A02979-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
2979
2013-2014 Regular Sessions
I N A S S E M B L Y
January 22, 2013
___________
Introduced by M. of A. ORTIZ -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to providing a tax credit to
small businesses that purchase and install a security system
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 24-a to read as follows:
3 24-A. CREDIT FOR SMALL BUSINESS PURCHASE OF SECURITY SYSTEM. (A) A
4 TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER
5 PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR THE PURCHASE,
6 OTHER THAN FOR RESALE, OF A SECURITY SYSTEM.
7 (B) FOR THE PURPOSES OF THIS SUBDIVISION, THE FOLLOWING TERMS SHALL
8 HAVE THE FOLLOWING MEANINGS:
9 (1) "SECURITY SYSTEM" IS DEFINED AS A SYSTEM INSTALLED TO DETECT
10 INTRUSION, BREAK-IN, MOVEMENT, SOUND OR FIRE.
11 (2) "SMALL BUSINESS" MEANS A NEW YORK TAXPAYER AS DEFINED IN PARAGRAPH
12 (F) OF SUBDIVISION ONE OF THIS SECTION WHO HAS FEWER THAN FIFTY EMPLOY-
13 EES IN THE INITIAL TAXABLE YEAR FOR WHICH THE CREDIT IS CLAIMED.
14 (C) THE AMOUNT OF CREDIT SHALL BE FIFTY PERCENT OF THE COST TO THE
15 TAXPAYER FOR THE PURCHASE AND INSTALLATION OF SUCH SECURITY SYSTEM
16 DURING THE TAXABLE YEAR OF PURCHASE, SUCH CREDIT NOT TO EXCEED SEVEN
17 HUNDRED FIFTY DOLLARS WITH RESPECT TO EACH PURCHASE AND INSTALLATION.
18 THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT
19 REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE HIGHER OF THE AMOUNTS
20 PRESCRIBED IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS SECTION.
21 S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
22 of the tax law is amended by adding a new clause (xxxv) to read as
23 follows:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07043-01-3
A. 2979 2
1 (XXXV) CREDIT FOR SMALL BUSINESS PURCHASE AND INSTALLATION
2 PURCHASE AND INSTALLATION COSTS OF A SECURITY SYSTEM
3 OF A SECURITY SYSTEM UNDER SUBDIVISION
4 UNDER SUBSECTION (S-1) TWENTY-FOUR-A OF SECTION
5 TWO HUNDRED TEN OR
6 SUBSECTION (J-1) OF
7 SECTION FOURTEEN HUNDRED
8 FIFTY-SIX
9 S 3. Section 606 of the tax law is amended by adding a new subsection
10 (s-1) to read as follows:
11 (S-1) CREDIT FOR SMALL BUSINESS PURCHASE AND INSTALLATION OF A SECURI-
12 TY SYSTEM. A TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED,
13 AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLA-
14 TION OF A SECURITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION TWEN-
15 TY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER. THE AMOUNT OF
16 CREDIT SHALL BE FIFTY PERCENT OF THE COST TO THE TAXPAYER OF THE
17 PURCHASE AND INSTALLATION OF THE SECURITY SYSTEM DURING THE TAXABLE
18 YEAR, SUCH CREDIT NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS WITH RESPECT
19 TO EACH SYSTEM PURCHASED AND INSTALLED.
20 S 4. Section 1456 of the tax law is amended by adding a new subsection
21 (j-1) to read as follows:
22 (J-1) CREDIT FOR SMALL BUSINESS PURCHASE AND INSTALLATION OF A SECURI-
23 TY SYSTEM. A TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED,
24 AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLA-
25 TION OF A SECURITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION TWEN-
26 TY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER. THE AMOUNT OF THE
27 CREDIT SHALL BE FIFTY PERCENT OF THE COST TO THE TAXPAYER OF THE
28 PURCHASE AND INSTALLATION OF SUCH SECURITY SYSTEM DURING THE TAXABLE
29 YEAR, SUCH CREDIT NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS WITH
30 RESPECT TO EACH SYSTEM PURCHASED AND INSTALLED. THE CREDIT ALLOWED UNDER
31 THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR
32 SUCH YEAR TO LESS THAN THE MINIMUM TAX FIXED BY SUBSECTION (B) OF
33 SECTION FOURTEEN HUNDRED FIFTY-FIVE OF THIS ARTICLE.
34 S 5. Section 1511 of the tax law is amended by adding a new subdivi-
35 sion (l-1) to read as follows:
36 (L-1) CREDIT FOR SMALL BUSINESS PURCHASE AND INSTALLATION OF SECURITY
37 SYSTEM. A TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED,
38 AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLA-
39 TION OF A SECURITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION TWEN-
40 TY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER. THE AMOUNT OF THE
41 CREDIT SHALL BE FIFTY PERCENT OF THE COST TO THE TAXPAYER OF THE
42 PURCHASE AND INSTALLATION OF SUCH SYSTEM DURING THE TAXABLE YEAR, SUCH
43 CREDIT NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS WITH RESPECT TO EACH
44 SYSTEM PURCHASED AND INSTALLED. THE CREDIT ALLOWED UNDER THIS SUBDIVI-
45 SION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO
46 LESS THAN THE MINIMUM FIXED BY PARAGRAPH FOUR OF SUBDIVISION (A) OF
47 SECTION FIFTEEN HUNDRED TWO OF THIS ARTICLE.
48 S 6. This act shall take effect immediately and shall apply to taxable
49 years commencing on or after January 1, 2015.
