S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1209

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  M.  of A. KOLB, GIGLIO, CORWIN, P. LOPEZ, RAIA -- Multi-
  Sponsored by -- M. of A.  MOLINARO -- read once and  referred  to  the
  Committee on Ways and Means

AN  ACT  to  amend  the  tax  law, in relation to providing for a credit
  against the personal income tax and the franchise tax on  corporations
  for certain bottling, packaging and labelling expenses of wineries

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
subdivision 18-a to read as follows:
  18-A. (A) A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED
BY THIS ARTICLE EQUAL TO THE AMOUNT ACTUALLY EXPENDED ON AND AFTER JANU-
ARY  FIRST,  TWO  THOUSAND  TWELVE  FOR CASES, BOTTLES, CARAFES OR OTHER
CONTAINERS IN WHICH WINE PRODUCED FOR RESALE IS PACKAGED AND  FOR  CORKS
AND  LABELS  USED  IN  AND ON SUCH CONTAINERS; PROVIDED SUCH TAXPAYER IS
LICENSED AS A WINERY PURSUANT TO THE PROVISIONS OF  SECTION  SEVENTY-SIX
OF THE ALCOHOLIC BEVERAGE CONTROL LAW.
  (B)  IN NO EVENT SHALL THE CREDIT HEREIN PROVIDED FOR BE ALLOWED IN AN
AMOUNT WHICH WILL REDUCE THE TAX PAYABLE TO LESS THAN THE MINIMUM  FIXED
BY  PARAGRAPH  (D) OF SUBDIVISION ONE OF THIS SECTION.  IF, HOWEVER, THE
AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR ANY  TAXABLE  YEAR
REDUCES  THE  TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN
SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND
MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S 2. Section 606 of the tax law is amended by adding a new  subsection
(ss) to read as follows:
  (SS)  (1) A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED
BY THIS ARTICLE EQUAL TO THE AMOUNT ACTUALLY EXPENDED ON AND AFTER JANU-
ARY FIRST, TWO THOUSAND TWELVE FOR  CASES,  BOTTLES,  CARAFES  OR  OTHER
CONTAINERS  IN  WHICH WINE PRODUCED FOR RESALE IS PACKAGED AND FOR CORKS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

                                                           LBD05187-01-1

A. 1209                             2

AND LABELS USED IN AND ON SUCH CONTAINERS;  PROVIDED  SUCH  TAXPAYER  IS
LICENSED  AS  A WINERY PURSUANT TO THE PROVISIONS OF SECTION SEVENTY-SIX
OF THE ALCOHOLIC BEVERAGE CONTROL LAW.
  (2)  IN NO EVENT SHALL THE AMOUNT OF THE CREDIT HEREIN PROVIDED FOR BE
ALLOWED IN EXCESS OF THE TAXPAYER'S TAX FOR SUCH YEAR.  HOWEVER, IF  THE
AMOUNT OF CREDIT OTHERWISE ALLOWABLE UNDER THIS SUBSECTION FOR ANY TAXA-
BLE YEAR RESULTS IN SUCH EXCESS AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCT-
IBLE  IN  SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR
YEARS AND MAY BE DEDUCTED FROM THE  TAXPAYER'S  TAX  FOR  SUCH  YEAR  OR
YEARS.
  S 3. This act shall take effect immediately.