Bill Text: NY S07763 | 2013-2014 | General Assembly | Introduced

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Bill Title: Relates to the empire zone wage tax credit for certain manufacturers.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2014-06-18 - referred to ways and means [S07763 Detail]

Download: New_York-2013-S07763-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7763
                                   I N  S E N A T E
                                     June 5, 2014
                                      ___________
       Introduced  by  Sen. VALESKY -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations
       AN ACT to amend the tax law, in relation to certain manufacturers
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. Subsection (k) of section 606 of the tax law is amended by
    2  adding a new paragraph 3-a to read as follows:
    3    (3-A) IN THE CASE OF A MANUFACTURER: (I) THAT HAS ACQUIRED THE  ASSETS
    4  OF  A PLASTICS MANUFACTURER PREVIOUSLY OPERATING IN NEW YORK STATE, (II)
    5  IS CERTIFIED AS AN EMPIRE ZONE ENTERPRISE WITH AN EFFECTIVE DATE  ON  OR
    6  AFTER  JANUARY FIRST, TWO THOUSAND NINE, AND (III) EMPLOYS AN AVERAGE OF
    7  MORE THAN THIRTY FULL-TIME EMPLOYEES EACH YEAR IN WHICH IT QUALIFIES FOR
    8  A CREDIT UNDER THIS SUBSECTION, THEN, SUCH MANUFACTURER SHALL BE  DEEMED
    9  TO  HAVE  AN EMPLOYMENT NUMBER AS OF SUCH CERTIFIED ENTITY'S EMPIRE ZONE
   10  DESIGNATION DATE OF ZERO; SHALL BE ELIGIBLE TO CLAIM  WAGE  TAX  CREDITS
   11  PROVIDED  FOR  BY  THIS SUBSECTION FOR TAX YEAR TWO THOUSAND TEN AND THE
   12  FOUR TAX YEARS THEN FOLLOWING; AND SHALL BE DEEMED TO BE A NEW  BUSINESS
   13  FOR  PURPOSES  OF  THIS SUBSECTION FOR TAX YEAR TWO THOUSAND TEN AND THE
   14  FOUR TAX YEARS THEN FOLLOWING.
   15    S 2. This act shall take effect immediately and  shall  apply  to  all
   16  taxable years beginning on or after January 1, 2010.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15505-01-4