NY A04769

Exempts retail sales of wine and wine products produced in New York State from state sales and compensating use taxes during the first week in March

Defines "wine" as the product of alcoholic fermentation of fresh grape juice with alcoholic content not exceeding 24 percent by volume, and "wine product" as a beverage containing wine mixed with juice, flavoring, water, citric acid, sugar, or carbon dioxide with no more than 6 percent alcohol by volume

Allows cities, counties, and school districts to voluntarily provide the same exemption from local sales and compensating use taxes by enacting a resolution in the form specified, with resolutions required to be enacted by February 1, 2011 and filed with the commissioner of taxation and finance by February 15, 2011

Requires local governments with less than one million population to omit the wine and wine product exemption from their local tax laws unless they elect otherwise through the resolution process

Takes effect immediately and applies to sales made during the first week in March, including those made under prior contracts