Budget & Taxes (Business Taxes)

in committee · New York · Assembly Jan 7, 2026

A 7654: Raises tax credits for long-term care insurance from twenty percent to fifty percent

Raises tax credits for long-term care insurance from twenty percent to fifty percent; applies to the corporation tax, franchise tax on business corporations, personal income tax, and franchise tax on insurance corporations.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credits for long-term care insurance, providing tax relief and expanding fiscal benefits under multiple tax categories.95% confidence ✓ HealthcareSupports HealthcareIncreases tax credits for long-term care insurance, expanding access to healthcare services by making coverage more affordable.90% confidence

Sub-Topics Business Taxes Income Tax Long-Term Care

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in committee · New York · Senate Jan 7, 2026

S 3614: Exempts minority depository institutions from the corporate franchise tax for a period of ten years

This bill exempts minority depository institutions - defined under federal law as institutions meeting specific criteria from the 1989 Financial Institution Reform Act - from paying the state's corporate franchise tax for ten years, starting from when they begin operations. The exemption applies to all taxes under the relevant tax article for businesses that qualify as minority depository institutions. It takes effect for tax years beginning on or after January 1, 2026. This policy change directly affects qualifying minority-owned financial institutions seeking to establish or expand operations in the state.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts minority depository institutions from corporate franchise tax, providing targeted tax relief to support underserved financial institutions per federal criteria.90% confidence

Sub-Topics Business Taxes Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 6120: Establishes a tax credit for the purchase of personal protective equipment (PPE) by employers

This bill creates a tax credit for small businesses in the state with 500 or fewer employees who buy personal protective equipment (PPE) like masks, gloves, or face shields for their workers. Employers can claim a credit of up to $5,000 per year toward the cost of qualifying PPE purchases. Unused credit amounts can be carried forward to future tax years. The credit applies to the taxable year the bill takes effect and all subsequent years.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides direct tax relief to small businesses through a refundable credit, reducing their tax burden for essential PPE purchases.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentTax credit for employer PPE purchases directly improves workplace safety protections for workers, aligning with Labor & Employment safety standards.95% confidence

Sub-Topics Business Taxes Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 170: Provides business tax credit for employer provided day care

Provides employers with a tax credit in an amount not to exceed 20% of expenses incurred in providing day care services to the children and wards of its employees and in training persons employed by the taxpayer or a third party provider rendering such services; provides that to receive such credit the facility or program rendering day care services must be licensed.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides business tax credit (20% of day care expenses), directly reducing taxable income for employers, aligning with tax relief indicators for Budget & Taxes.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides tax credit for employer-provided day care, expanding worker benefits as per indicators.90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 5366: Provides a tax credit to corporations that purchase qualified green construction equipment

Provides a tax credit to corporations that purchase qualified green construction equipment equivalent to thirty percent of the total expenses incurred during the taxable year in purchasing such equipment.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides corporate tax credit (30% of equipment costs), creating a tax break for businesses, aligning with 'oppose' indicator of tax breaks primarily for wealthy entities.85% confidence ✓ EnergySupports EnergyTax credit for green construction equipment directly incentivizes renewable energy infrastructure investment, aligning with support indicators for clean energy funding.90% confidence ✓ EnvironmentSupports EnvironmentTax credit for green construction equipment directly incentivizes eco-friendly corporate practices, aligning with environmental protection and pollution reduction goals.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 485: Relates to a tax credit for employment of an individual who has successfully completed a judicial diversion substance abuse treatment program or graduated from drug court

Establishes a tax credit for employment of an individual who has successfully completed a judicial diversion substance abuse treatment program or graduated from drug court.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes tax credit for employers hiring individuals from substance abuse programs, providing tax relief as a fiscal incentive.95% confidence ✓ Criminal JusticeSupports Criminal JusticeTax credit incentivizes hiring individuals post-substance abuse treatment/drug court, supporting rehabilitation and reducing recidivism - key criminal justice reform goals.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentTax credit incentivizes hiring individuals completing substance abuse treatment, expanding employment opportunities for a vulnerable workforce.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Courts

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in committee · New York · Assembly Jan 7, 2026

A 4096: Requires new businesses to take a sales tax education course and lowers the statute of limitations for sales tax liability to ten years

This bill requires new businesses to complete an online sales tax education course with an exam before making their first sales tax payment to the state, earning certification. It also shortens the time frame for collecting unpaid sales tax liabilities from 20 years to 10 years, applying to cases where the tax warrant was filed after April 1, 2016. For liabilities filed between 2011 and 2016, the enforcement period is reduced to 15 years. The changes take effect on April 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesShortens sales tax collection window from 20 to 10 years, strengthening state revenue collection and fiscal accountability per bill's enforcement changes.95% confidence

Sub-Topics Business Taxes Sales Tax

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in committee · New York · Senate Jan 16, 2026

S 910: Establishes a returning veterans tax credit for businesses that hire veterans and disabled veterans

Establishes a returning veterans tax credit for businesses that hire veterans and disabled veterans; provides that such tax credit is worth $3,000 per veteran hired or $4,000 for every disabled veteran hired and the total benefit shall not exceed $15,000 annually.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes tax credit for businesses hiring veterans, reducing tax liability and incentivizing employment, aligning with tax relief indicators.95% confidence ✓ VeteransSupports VeteransProvides tax credits to businesses hiring veterans/disabled veterans, directly supporting veteran employment and workforce integration.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Veteran Education Veteran Employment Veteran Housing

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in committee · New York · Senate Jan 7, 2026

S 2044: Exempts community colleges from the imposition of the metropolitan commuter transportation mobility tax

This bill exempts community colleges from paying the metropolitan commuter transportation mobility tax. It directly affects community colleges by removing this tax obligation, which previously applied to some educational institutions. The key change is amending tax law to explicitly include community colleges in the definition of "eligible educational institution" that qualifies for the exemption. This policy change ensures community colleges are now covered under the existing tax exemption, aligning them with other public educational institutions.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts community colleges from a tax obligation, providing direct tax relief to public educational institutions and aligning with fiscal responsibility indicators for public services.95% confidence ✗ TransportationOpposes TransportationExempts community colleges from transportation mobility tax, reducing funding for mobility programs. Directly impacts transportation tax revenue source.92% confidence

Sub-Topics Business Taxes Sales Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 4438: Establishes a hydroelectric power tax credit

This bill creates a tax credit allowing taxpayers to offset 50% of licensing or relicensing fees paid to state or federal agencies for hydroelectric power projects. It directly affects businesses and developers subject to taxes under specific sections of the tax code (articles 9, 9-A, 22, and 33). The credit can be applied against income taxes, with unused portions carried forward to future tax years if it reduces taxes below minimum thresholds. The bill modifies multiple tax code sections to implement this credit and its carryover rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit reducing business tax liability for hydroelectric projects, providing direct fiscal relief under tax policy.90% confidence ✓ EnergySupports EnergyTax credit directly incentivizes hydroelectric (renewable) project development, aligning with renewable energy promotion and clean energy infrastructure funding indicators.95% confidence ✓ EnvironmentSupports EnvironmentTax credit for hydroelectric power promotes renewable energy development, directly advancing clean energy adoption per environmental protection indicators.90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Hydroelectric

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