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Bill > A10121
NY A10121
NY A10121Relates to tax credits for qualified pass-through manufacturers; provides a definition for qualified pass-through manufacturers.
summary
Introduced
03/16/2018
03/16/2018
In Committee
03/16/2018
03/16/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
2017-2018 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to tax credits for qualified pass-through manufacturers The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill amends the tax law to provide a definition for "qualified pass-through manufacturers" and to exclude their income from the small business tax credit. It also excludes property used by qualified pass-through manufacturers from the investment tax credit. The key provisions are: 1) defining "qualified pass-through manufacturer" as a business that meets the definition of a "qualified New York manufacturer" except that the term "business receipts" is used instead of "gross receipts"; 2) excluding income from qualified pass-through manufacturers from the small business tax credit; and 3) excluding property used by qualified pass-through manufacturers from the investment tax credit.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
referred to ways and means (on 03/16/2018)
Official Document
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