Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 17, 2014 |
held for consideration in ways and means |
Jan 08, 2014 |
referred to ways and means |
May 01, 2013 |
referred to ways and means |
Assembly Bill A7136
2013-2014 Legislative Session
Sponsored By
TENNEY
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2013-A7136 (ACTIVE) - Details
2013-A7136 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7136 2013-2014 Regular Sessions I N A S S E M B L Y May 1, 2013 ___________ Introduced by M. of A. TENNEY -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to creating a tax credit for New York state businesses that source materials and supplies manufac- tured by other New York state businesses 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 47 to read as follows: 47. QUALIFIED PRODUCTS LOCAL SOURCING CREDIT. (A) BUSINESSES SUBJECT TO TAX LIABILITY UNDER ARTICLE NINE OR NINE-A OF THIS CHAPTER, PURCHAS- ING QUALIFIED PRODUCTS MAY CLAIM THE QUALIFIED PRODUCTS LOCAL SOURCING TAX CREDIT AGAINST ANY SUCH LIABILITY AT THE CLOSE OF THE TAX YEAR PROVIDED, HOWEVER, THAT THE UNUSED PORTION OF ANY TAX CREDIT CLAIMED SHALL NOT BE CARRIED FORWARD AND APPLIED IN ANOTHER TAX YEAR. (B) FOR THE PURPOSES OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (1) "QUALIFIED PRODUCTS" SHALL MEAN ANY MATERIALS, COMPONENTS, OR SUPPLIES WHETHER USED IN THE MANUFACTURING PROCESS OR OTHERWISE THAT ARE PRODUCED IN NEW YORK STATE BY A NEW YORK STATE BUSINESS; (2) "PRODUCER" IS AN INDIVIDUAL (WHETHER ACTING INDIVIDUALLY OR THROUGH A COOPERATIVE, CORPORATION, PARTNERSHIP, BUSINESS ASSOCIATION, OR EDUCATIONAL INSTITUTION) WHO IS A BUSINESS OR MANUFACTURER OF GOODS IN NEW YORK STATE, IT SHALL NOT HOWEVER INCLUDE A WHOLESALER OR DISTRIB- UTOR; (3) "PURCHASER" IS AN INDIVIDUAL (WHETHER ACTING INDIVIDUALLY OR THROUGH A COOPERATIVE, CORPORATION, PARTNERSHIP, BUSINESS ASSOCIATION, OR EDUCATIONAL INSTITUTION) WHO IS A BUSINESS OR MANUFACTURER OF GOODS IN NEW YORK STATE, IT SHALL NOT HOWEVER INCLUDE A WHOLESALER OR DISTRIB- UTOR; (4) "NET SALES" ARE THE TOTAL SALES OF THE BUSINESS SUBJECT TO TAX. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09907-02-3
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