Bill > A08336

This bill creates a tax credit for small businesses in New York state that sell a certain percentage of products produced in New York. The credit amounts to $1,000, $2,000, or $5,000, depending on the percentage of qualified products sold, which include beer, wine, spirits, ciders, agricultural ingredients, dairy products, and meat products. The small businesses eligible for the credit include independently or privately-owned cafes, restaurants, eateries, bars, pubs, breweries, distilleries, orchards, food trucks, retail stores, farm stands, hotels, and motels. The credit can reduce the tax due, but any amount exceeding the tax will be treated as an overpayment to be credited or refunded.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2021/A8336