Bill > A02036

This bill establishes a tax credit for farmers and agricultural producers who grow base ingredients used in beer production in New York State. The tax credit applies to taxpayers subject to corporate (Article 9-A) or personal income tax (Article 22) and allows them to claim a credit equal to their costs for agricultural production of beer ingredients, including expenses for seed, fertilizer, equipment, utilities, and employee salaries. The credit is specifically limited to ingredients sold directly to registered beer distributors and only covers base ingredients necessary for beer production, excluding additives used for flavor, color, or other beer characteristics. If the credit amount exceeds the taxpayer's annual tax liability, the excess can be treated as an overpayment and credited or refunded, though no interest will be paid on the refund. The bill amends existing tax law to create this new credit and will take effect immediately, applying to taxable years starting on or after its effective date, potentially providing a financial incentive for agricultural producers who supply ingredients to the brewing industry.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A2036