S 3055 exempts innovative septic systems with enhanced treatment technologies - such as advanced nitrogen removal systems - from sales and use taxes. These systems must treat waste at a capacity of no more than 1,000 gallons per day and serve a single residential or small business property. The bill adds this exemption to tax law, specifically targeting systems designed to reduce environmental and public health risks from waste-water interactions. This change directly lowers costs for homeowners and small businesses installing qualifying systems. The bill was referred to the Budget and Revenue committee on January 23, 2025.
Establishes the "education affordability act" and tax credit; provides credits against income and corporate franchise tax for various qualified education investments including scholarships, education funds and home-based instructional materials.
This bill (S 132) prevents town, city, or county industrial development agencies from waiving taxes that would otherwise go to school districts. It prohibits these agencies from entering into agreements that replace tax payments (like "payment in lieu of taxes") or waiving other taxes directly payable to school districts. The law ensures school districts retain all tax revenue that would have been collected from industrial development projects. This directly affects local industrial development agencies and school districts by requiring full tax payments instead of waivers.
Imposes a tax on selected nicotine products, including, but not limited to a nicotine pouch or products intended to be made into a nicotine pouch by the consumer; defines a nicotine pouch as a smokeless pre-portioned pouch containing nicotine but no tobacco, which the user puts and leaves between their lip and gum while the nicotine and taste is being released; makes related provisions and technical amendments.
Extends eligibility for the agricultural property tax credit to farmers having a leasehold interest of not fewer than five continuous years in qualified agricultural property.
This bill allows farm operators whose primary income comes from farming to receive refunds for excess investment tax credits starting in 2025. If a farmer’s tax credit exceeds their tax liability for a year, they can elect to treat the difference as an overpayment refundable under existing tax law. The refund option applies only to credits from specific tax provisions (sections 210-B and 606 of the tax law) and requires the taxpayer’s primary income to be from a farm operation as defined in agriculture law. It does not change credit amounts but provides a new refund mechanism for qualifying farmers. The change takes effect January 1, 2025.
This bill would allow small businesses (defined as those with 50 or fewer employees) to deduct dues paid to their local incorporated chamber of commerce from their adjusted gross income. The deduction applies only to dues not used for lobbying activities, and the chamber must be incorporated under specific state law. It would take effect for tax years beginning on or after January 1, 2027. This policy change directly affects small businesses seeking to reduce taxable income through chamber membership costs.
S 5870 eliminates the state sales tax on wireless phone services, directly reducing costs for consumers who pay for mobile phone plans. It also gives cities, counties, and school districts the option to either impose their own local tax on these services or adopt the state-level exemption. Local governments must formally adopt the exemption through a resolution by March 1, 2026, with the state tax removal taking effect on that date. The bill specifically applies to mobile telecommunications services, excluding other tax exemptions like solar energy or clothing.
Provides a 50% tax credit for new income tax revenue generated by a new employee; provides credit may be taken up to 10 years; provides that the Department of Economic Development must monitor and certify the additional employment for any business which applies for the credit; provides any company taking the credit must maintain employment in the state for twice the number of years as the term of the tax credit; provides the Department of Economic Development shall annually report to the governor and the Legislature on the number and amounts of credits.
This bill amends tax laws to exclude payments in lieu of property taxes from renewable energy systems (like solar, wind, and battery storage) from school district and local government tax levies. It specifically removes these energy-related payments from calculations used to determine funding levels for schools and local services. The change directly affects school districts and municipalities that rely on tax levy formulas, ensuring renewable energy projects don't reduce their available funding.
