Assembly Bill A5498

2023-2024 Legislative Session

Provides a tax credit to taxpayers who grow the base ingredients necessary for the production of beer

download bill text pdf

Sponsored By

Current 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

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2023-A5498 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add §37-a, amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A9425
2017-2018: A4474
2019-2020: A5531
2021-2022: A4291

2023-A5498 (ACTIVE) - Summary

Provides a tax credit to taxpayers who grow the base ingredients necessary for the production of beer.

2023-A5498 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5498
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 13, 2023
                                ___________
 
 Introduced  by M. of A. MAHER -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation to providing a tax incentive to
   a taxpayer that grows base ingredients used for the production of beer
 
   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 37-a to read
 as follows:
   § 37-A. SUPPLIER OF BEER PRODUCTION INGREDIENTS TAX CREDIT. (A) GENER-
 AL. A TAXPAYER SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS
 CHAPTER SHALL BE ALLOWED A CREDIT AGAINST SUCH TAXES IN THE AMOUNT SPEC-
 IFIED  IN SUBDIVISION (B) OF THIS SECTION AND PURSUANT TO THE PROVISIONS
 REFERENCED IN SUBDIVISION (C) OF THIS SECTION.
   (B)(1) THE AMOUNT OF THE CREDIT PER TAXPAYER PER TAXABLE YEAR (OR  PRO
 RATA SHARE OF EARNED CREDIT IN THE CASE OF A PARTNERSHIP) SHALL BE EQUAL
 TO  THE  COST  BORNE BY SUCH TAXPAYER FOR THE AGRICULTURAL PRODUCTION OF
 INGREDIENTS NECESSARY FOR THE  PRODUCTION  OF  BEER.  SUCH  COSTS  SHALL
 INCLUDE  THE COST OF SEED, FERTILIZER, EQUIPMENT, UTILITIES, AND EMPLOY-
 EES' SALARIES.
   (2) THE CREDIT ALLOWED UNDER THIS SECTION SHALL ONLY BE APPLICABLE  TO
 THAT PORTION OF A TAXPAYER'S CROP THAT IS SOLD DIRECTLY TO A DISTRIBUTOR
 REGISTERED UNDER ARTICLE EIGHTEEN OF THIS CHAPTER.
   (3) THE CREDIT ALLOWED UNDER THIS SECTION SHALL ONLY APPLY TO THE BASE
 INGREDIENTS  NECESSARY TO PRODUCE BEER. THIS CREDIT SHALL NOT BE ALLOWED
 FOR ANY INGREDIENT OR PRODUCT THAT IS USED FOR  THE  PURPOSE  OF  ADDING
 FLAVOR, COLOR, OR ALTERING SOME OTHER CHARACTERISTIC OF THE BEER.
   (C)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9-A: SECTION 210-B, SUBDIVISION 59.
   (2) ARTICLE 22: SECTION 606, SUBSECTION (OOO).
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09198-01-3
 A. 5498                             2
              

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