Bill > A04967

This bill enacts the "Microbusiness Resiliency and Growth Act", which creates a special sales tax system for very small businesses, defined as those employing five or fewer people, independently owned and operated, not dominant in their field, and not primarily conducting business online. The bill provides a sales tax reduction for qualifying microbusinesses in their first two years of operation: in the first year, the sales tax would be zero percent, and in the second year, it would be two percent. This tax reduction is tied to helping businesses reach wage increases, with the reduced tax rate applying until the business makes up the difference between prior and current minimum wage levels. After two years, the sales tax returns to the standard four percent. Microbusinesses using a segregated sales tax account must deduct the profit difference from this account within one week of deposit. Additionally, microbusiness owners are required to maintain quarterly records of employee numbers, wages, and sales tax reductions as prescribed by the tax commissioner. The act will take effect on the first day of a sales tax quarterly period at least 90 days after becoming law.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A4967