Assembly Bill A6685

2017-2018 Legislative Session

Establishes a hire-now tax credit

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

multi-Sponsors

2017-A6685 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add §43, amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A10668
2013-2014: A2376
2015-2016: A6589
2019-2020: A6437

2017-A6685 (ACTIVE) - Summary

Enacts a Hire-Now tax credit as an additional incentive for hiring the unemployed.

2017-A6685 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6685
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 15, 2017
                                ___________
 
 Introduced  by  M.  of A. CRESPO -- Multi-Sponsored by -- M. of A. MOYA,
   RAMOS, RIVERA, RODRIGUEZ -- read once and referred to the Committee on
   Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing a hire-now  tax
   credit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  The tax law is amended by adding a new section 43 to  read
 as follows:
   §  43. HIRE-NOW TAX CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER, WHICH
 IS SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAPTER AND
 WHICH CREATES A NEW JOB, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX. THE
 AMOUNT OF THE CREDIT ALLOWED UNDER THIS SECTION SHALL BE  EQUAL  TO  THE
 PRODUCT  OF 6.85 PERCENT AND THE GROSS WAGES PAID FOR EACH NEW EMPLOYEE.
 THE CREDIT SHALL NOT BE MORE THAN FIVE  THOUSAND  DOLLARS  FOR  ANY  NEW
 EMPLOYEE  FOR  ONE  FULL  YEAR OF EMPLOYMENT; IF A NEW EMPLOYEE HAS BEEN
 HIRED FOR LESS THAN A FULL TAX YEAR THIS AMOUNT SHALL  BE  PRORATED  AND
 APPORTIONED TO EACH TAX YEAR BUT SHALL IN NO WAY DECREASE THE FULL THREE
 CONSECUTIVE  YEARS  OF  CREDIT  ELIGIBILITY. THE TAXPAYER MAY CLAIM THIS
 CREDIT FOR EACH NEW EMPLOYEE FOR A PERIOD OF THREE CONSECUTIVE YEARS  OF
 EMPLOYMENT.    THE  TAXPAYER  MAY OFFSET QUARTERLY ESTIMATED TAX RETURNS
 WITH THE AMOUNT OF THIS CREDIT EARNED IN ANY PREVIOUS QUARTER.
   (B) UNEMPLOYMENT ENHANCEMENT. FOR CALENDAR YEARS TWO  THOUSAND  SEVEN-
 TEEN AND TWO THOUSAND EIGHTEEN IF A NEW EMPLOYEE WAS RECEIVING UNEMPLOY-
 MENT  INSURANCE  BENEFITS AT THE TIME OF HIRE, AN ADDITIONAL THREE THOU-
 SAND  DOLLAR  CREDIT  WILL  BE  ALLOWED  FOR  THE  FIRST  FULL  YEAR  OF
 EMPLOYMENT.
   (C)  DEFINITIONS.  AS  USED IN THIS SECTION, THE FOLLOWING TERMS SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1) "NEW EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT IS HIRED  BY
 THE  TAXPAYER  AFTER JULY FIRST, TWO THOUSAND SEVENTEEN AND BEFORE APRIL
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.