Bill Text: NY A03473 | 2019-2020 | General Assembly | Introduced


Bill Title: Provides a credit against personal income tax and corporate franchise tax for wine bottling, packaging and labelling expenses of wineries, breweries and distilleries 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.

Spectrum: Moderate Partisan Bill (Republican 5-1)

Status: (Introduced) 2019-01-29 - referred to ways and means [A03473 Detail]

Download: New_York-2019-A03473-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          3473
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 29, 2019
                                       ___________
        Introduced  by  M.  of A. KOLB, GIGLIO, RAIA, MONTESANO, RYAN, NORRIS --
          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-B of the tax law is amended  by  adding  a  new
     2  subdivision 53 to read as follows:
     3    53.  (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 nineteen 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 section two hundred ten of this
    16  article.  If, however, the amount of credit allowable under this  subdi-
    17  vision  for  any taxable year reduces the tax to such amount, any amount
    18  of credit not deductible in such taxable year may be carried over to the
    19  following year or years and may be deducted from the taxpayer's tax  for
    20  such year or years.
    21    §  2. Section 606 of the tax law is amended by adding a new subsection
    22  (jjj) to read as follows:
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04300-01-9

        A. 3473                             2
     1    (jjj) (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 nineteen 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    § 3. This act shall take effect immediately.
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