Bill
Bill > S07542
NY S07542
NY S07542Creates a tax credit for small businesses that sell a certain percentage of products produced in New York state; provides such small businesses include independently or privately-owned cafes, restaurants, eateries, bars, pubs, breweries, distilleries, orchards, food trucks, retail stores, farm stands, hotels, or motels.
summary
Introduced
11/24/2021
11/24/2021
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
Creates a tax credit for small businesses that sell a certain percentage of products produced in New York state; provides such small businesses include independently or privately-owned cafes, restaurants, eateries, bars, pubs, breweries, distilleries, orchards, food trucks, retail stores, farm stands, hotels, or motels.
AI Summary
This bill creates a tax credit for small businesses in New York state that sell a certain percentage of products produced in the state. The credit amounts to $1,000, $2,000, or $5,000, depending on the percentage of the business's total sales that are attributed to the sale of qualified products, which include beer, wine, spirits, ciders, agricultural ingredients, dairy products, and meat products. The small businesses eligible for this credit include independently or privately-owned cafes, restaurants, eateries, bars, pubs, breweries, distilleries, orchards, food trucks, retail stores, farm stands, hotels, and motels.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/05/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/S7542 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S07542&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S07542 |
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