NY S09078

Exempts from sales and use taxes any equipment or products purchased by small businesses (100 or fewer employees) that are directly used to comply with COVID-19 health and safety plans, including physical barriers such as plexiglass, plastic shielding walls, strip curtains, and cubicle walls.

Establishes a tax credit for small business owners who paid sales tax on COVID-19 compliance equipment and materials purchased between May 15, 2020 and the effective date of the subdivision.

Allows excess tax credits that exceed a small business's annual tax liability to be treated as overpayments and refunded without interest, in accordance with tax law section 606 and 686.

Applies the same exemption and credit provisions to both corporate franchise tax (section 210-B) and personal income tax (section 606) purposes.

Takes effect on the first day of the sales tax quarterly period after the bill becomes law and applies to sales made and uses occurring on and after that date.