NY A10695

Establishes a beer production tax credit for taxpayers registered as distributors under Article 18 of the Tax Law who produce beer in New York State, capped at 60 million gallons annually per taxpayer.

Credit amount is 14 cents per gallon for the first 500,000 gallons produced and 4.5 cents per gallon for production exceeding 500,000 gallons, with a maximum credit cap of 15.5 million gallons per taxable year.

Credit applies to taxes under Articles 9-A and 22 of the Tax Law, with excess credits treated as overpayments that can be refunded without interest.

Repeals the existing exemption for beer produced and sold within the state by certain distributors under Article 18 of the Tax Law.

Exempts from beer label registration fees brands produced in batches totaling 1,500 barrels or less annually.

Effective immediately for taxable years beginning on or after January 1, 2012, with sections 5 and 6 retroactively effective to March 28, 2012.