NY A02954

Bill

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.

Introduced
02/01/2023

In Committee
01/03/2024

Crossed Over

Passed

Dead
12/31/2024

Introduced Session

2023-2024 General Assembly

Bill Summary

AN ACT to amend the tax law, in relation to creating a tax credit for small businesses that sell a certain percentage of products produced in New York state

AI Summary

This bill creates a tax credit for small businesses in New York that sell a certain percentage of products produced in the state. The credit amounts range from $1,000 to $5,000, depending on the percentage of qualified products sold. Qualified products 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, bars, breweries, distilleries, food trucks, retail stores, and more. The bill takes effect immediately and applies to taxable years beginning on or after January 1, 2024.

Committee Categories

Budget and Finance

Sponsors (17)

Aileen Gunther (D)*, Matt Simpson (R)*, Joe Angelino (R), Scott Bendett (R), Ken Blankenbush (R), Karl Brabenec (R), Joe DeStefano (R), Michael Durso (R), Jeff Gallahan (R), Jarett Gandolfo (R), Joe Giglio (R), Steve Hawley (R), Ron Kim (D), John Lemondes (R), Brian Maher (R), Mike Norris (R), Robert Smullen (R),

Last Action

referred to ways and means (on 01/03/2024)

Official Document

https://www.nysenate.gov/legislation/bills/2023/A2954

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.nysenate.gov/legislation/bills/2023/A2954
BillText	https://assembly.state.ny.us/leg/?default_fld=&bn=A02954&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A02954

Bill	Bill Name	Last Action	Type
A08336	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.	held for consideration in ways and means	Reintroduced
S03028	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.	REFERRED TO BUDGET AND REVENUE	Same As

Bill > A02954

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (17)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary