NY S07728

Establishes a beer production tax credit for taxpayers registered as distributors under tax law Article 18 who produce 60 million or fewer gallons of beer annually in New York State.

Credit amounts are 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 annual credit cap of 15.5 million gallons.

Credit applies against taxes under Articles 9-A and 22, with excess credits treated as overpayments refundable without interest and without reducing tax below minimum amounts prescribed by law.

Repeals existing exemption for beer produced and sold within the state by certain Article 18 distributors and amends the Alcoholic Beverage Control Law to exempt beer label registration fees for small batch production of 1,500 barrels or less annually.

Effective immediately for taxable years beginning January 1, 2012, with retroactive effective date of March 28, 2012 for repeal and label registration provisions.