Bill
Bill > A05227
NY A05227
NY A05227Creates deduction from franchise tax and personal income tax for costs of acquiring or improving child care facility operated for profit; creates deduction from corporation tax, franchise tax, personal income tax and tax on banks for costs of acquiring or improving child care facility operated primarily for children of taxpayer's employees.
summary
Introduced
02/07/2019
02/07/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
Creates deduction from franchise tax and personal income tax for costs of acquiring or improving child care facility operated for profit; creates deduction from corporation tax, franchise tax, personal income tax and tax on banks for costs of acquiring or improving child care facility operated primarily for children of taxpayer's employees.
AI Summary
This bill creates a deduction from franchise tax, personal income tax, corporation tax, and tax on banks for the costs of acquiring or improving child care facilities. The deduction applies to facilities operated for profit or primarily for the taxpayer's employees' children. The deduction is taken over 60 months for for-profit facilities and 24 months for facilities primarily for employees' children, and is in lieu of other allowances for the exhaustion of the property used in the business.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
referred to ways and means (on 01/08/2020)
Official Document
bill text
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bill summary
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