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NY S04898

Bill

Official Source

Status

Engrossed

6/9/2015

Primary Sponsor

Martin Golden

Click for details

Origin

Senate

2015-2016 General Assembly

AI Summary

  • Extends the expiration date of the general corporation tax credit from July 1, 2015 to January 1, 2019
  • Credit remains available for taxpayers with city taxable income of $35,000 or less at 100 percent of the allowed amount
  • Credit phases out for taxpayers with city taxable income between $35,000 and $100,000, with no credit available above $100,000
  • Eliminates the previous prorated credit calculation for tax years spanning June 30, 2015
  • Takes effect immediately upon enactment

Legislative Description

Relates to extending certain tax credits against NYC personal income tax for S corporations.

Last Action

REFERRED TO CITIES

1/6/2016

Committee Referrals

Cities1/6/2016
Ways and Means6/9/2015
Cities4/23/2015

Full Bill Text

No bill text available