NY A07136

Establishes a "Qualified Products Local Sourcing Credit" for New York businesses subject to Article 9 or 9-A tax liability that purchase materials, components, or supplies produced by other New York state businesses.

Credit amounts range from $1,500 to $25,000 based on the percentage of net sales attributed to qualified products: 20% of net sales = $1,500; 40% = $3,000; 60% = $6,000; 80% = $12,000; 100% = $25,000.

Defines "qualified products" as materials, components, or supplies produced in New York state by New York state manufacturers or businesses (excludes wholesalers and distributors).

Requires businesses claiming the credit to submit a computer-generated report with tax returns that includes the producer's name, physical location, amounts paid, and units purchased.

Unused tax credits cannot be carried forward to subsequent tax years.