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Bill > S01142
NY S01142
NY S01142Provides that excess investment tax credit amounts may be refundable to operators of a farm operation.
summary
Introduced
01/10/2023
01/10/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to providing that excess investment tax credit amounts may be refundable to operators of a farm operation
AI Summary
This bill allows operators of a farm operation to treat any excess investment tax credit amounts as an overpayment of tax that can be refunded, starting for taxable years beginning on or after January 1, 2023. The term "farm operation" is defined as it is in the Agriculture and Markets Law. This change applies to the investment tax credit under both the corporate franchise tax and the personal income tax.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/03/2024)
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/2023/S1142 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S01142&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S01142 |
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