NY A10059

Defines "equipment" as a machine or system and any part or subassembly thereof for purposes of New York tax law interpretation and enforcement.

Establishes that equipment is "directly and predominantly" used when received, inventoried, prepared for distribution, and then stocked or maintained by qualified empire zone enterprise employees whose duties originate and terminate at the same empire zone location.

Allows the Division of Tax Appeals to accept petitions contesting prior determinations that contradicted the definition of "directly and predominantly" established in this act, with decisions deemed conclusive and not subject to further review.

Takes effect immediately and applies retroactively to any audit or enforcement proceeding commencing on or after March 1, 2001.