Bill
Bill > A00762
NY A00762
NY A00762Establishes a small business tax credit for the employment of persons sixty-five years of age and older making less than seventy-five thousand dollars.
summary
Introduced
01/06/2021
01/06/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Establishes a small business tax credit for the employment of persons sixty-five years of age and older making less than seventy-five thousand dollars.
AI Summary
This bill establishes a small business tax credit for the employment of persons 65 years of age and older making less than $75,000 annually. The credit is worth $2,500 per eligible employee, with a total annual cap of $10 million. The credit can be claimed for up to 5 consecutive years, but cannot be used to reduce the taxpayer's liability below zero. The bill applies to small businesses with 100 or fewer employees and requires the eligible employee to work at least 35 hours per week and remain employed for at least 12 months.
Committee Categories
Budget and Finance
Sponsors (13)
Peter Abbate (D)*,
Ed Braunstein (D)*,
Dave McDonough (R)*,
N. Nick Perry (D)*,
Didi Barrett (D),
Kevin Cahill (D),
William Colton (D),
Vivian Cook (D),
Dave DiPietro (R),
Judy Griffin (D),
Aileen Gunther (D),
Angelo Santabarbara (D),
Phil Steck (D),
Last Action
referred to ways and means (on 01/05/2022)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/A762 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A00762&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A00762 |
Loading...