Bill > A09319

This bill provides tax exemptions for retail food stores that derive at least 70 percent of their annual gross sales from staple foods and food products intended for off-premises consumption. The bill amends multiple sections of New York's tax law and real property tax law to create comprehensive tax relief for qualifying food stores. Specifically, it exempts these stores from state taxation under various articles, including income tax (with the exemption applying only to business income), franchise tax, and sales tax. The bill also allows local governments to grant a 100 percent property tax exemption for these retail food stores, though they can choose to reduce the maximum exemption. To qualify, stores must be defined under specific agricultural market laws and must go through an application and annual recertification process established by the commissioners of taxation and agriculture. Importantly, the exemption does not cover non-business income like wages or investments, and local governments have discretion in implementing the property tax exemption. The tax benefits will take effect for taxable years beginning on or after January 1, 2026, potentially providing significant financial relief for qualifying retail food stores.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A9319