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NY A04574

Bill

Official Source

Status

Introduced

2/6/2013

Primary Sponsor

Brian Kolb

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Creates a tax credit against personal income tax and corporate franchise tax equal to the full amount spent on bottles, cases, carafes, containers, corks, and labels used for packaging wine, liquor, or beer for resale
  • Applies to taxpayers licensed as wineries, distilleries, or breweries under sections 76, 61, or 51 of the Alcoholic Beverage Control Law
  • Limits brewery eligibility to those producing 60 million gallons or fewer of beer in New York State
  • Allows unused credit amounts to be carried forward to subsequent tax years if the credit exceeds the tax owed
  • Takes effect for expenses incurred on or after January 1, 2013

Legislative Description

Provides a credit against personal income tax and corporate franchise tax for wine bottling, packaging and labelling expenses of wineries, breweries and distilleries licensed pursuant to certain provisions of the alcoholic beverage control law; allows any amount of credit not deducted in a tax year to be carried over to the following tax year or years.

Last Action

held for consideration in ways and means

6/17/2014

Committee Referrals

Ways and Means2/6/2013

Full Bill Text

No bill text available