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NY A02950
Bill
Status
1/22/2013
Primary Sponsor
Keith Wright
Click for details
AI Summary
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Amends New York tax law to create a new tax credit for corporations, companies, associations, and taxpayers subject to Article 9-A (franchise tax)
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Employers receive a $1,000 tax credit for each full-time employee (minimum 30 hours per week) employed for over one year at minimum wage who received public assistance for two or more years immediately before employment
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Credit applies to employees paid at least the minimum wage prescribed under Article 19 of the Labor Law, with employment duration exceeding one year
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Takes effect immediately and applies to all taxable years beginning after December 31 of the year the act takes effect
Legislative Description
Provides a tax credit of $1,000 against special additional mortgage tax and article 9-A (franchise tax on business corporations) for each employee employed in excess of one year at minimum wage for thirty hours per week who was a public assistance recipient for at least two years immediately preceding the commencement of such employment.
Last Action
held for consideration in ways and means
6/17/2014