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Who's moving tax incentives in New York
Showing 41–44 of 44
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This bill repeals section 28 of the tax law, which previously provided a production credit for biofuels. It directly affects biofuel producers who relied on this tax credit to reduce their tax liability. The repeal removes the credit from the tax code, effective for taxable years beginning after the bill's effective date (January 1 following enactment). This is a concrete policy change altering tax treatment, not a procedural or commemorative measure.
Creates deduction from franchise tax and personal income tax for costs of acquiring or improving child care facility operated for profit; creates deduction from corporation tax, franchise tax, personal income tax and tax on banks for costs of acquiring or improving a child care facility operated primarily for children of taxpayer's employees.
Establishes an interstate compact agreement to phase out corporate giveaways which prohibits member states from offering or providing any company-specific tax incentive or company-specific grant to any entity for a corporate headquarters, manufacturing facility, office space or other real estate development located in any other member state as an inducement for the corporate headquarters, manufacturing facility, office space or other real estate development to relocate to the offering member state.
Exempts railroad rolling stock from sales and compensating use taxes; defines "railroad rolling stock" as a device, which is used exclusively upon stationary rails or tracks to transport goods, commodities, or equipment, including, but not limited to, flat cars, box cars, gondolas, hopper cars, or other freight railroad cars.
