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NY A01143
Bill
Status
1/5/2011
Primary Sponsor
Felix Ortiz
Click for details
AI Summary
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Allows small businesses with fewer than 50 employees to claim a tax credit equal to 50 percent of security system purchase and installation costs, capped at $750 per system.
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Defines "security system" as a system installed to detect intrusion, break-in, movement, sound, or fire.
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Applies the credit against franchise taxes under multiple tax law provisions (sections 210, 606, 1456, and 1511).
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Credit cannot reduce tax liability below applicable minimum tax thresholds for each tax type.
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Effective immediately but applies to taxable years beginning on or after January 1, 2013.
Legislative Description
Provides a tax credit against franchise taxes for small businesses that purchase and install a security system which shall be 50% of the cost of the system up to $750.
Last Action
held for consideration in ways and means
6/19/2012