2012 New York Consolidated Laws
TAX - Tax
Article 1 - (1 - 37) SHORT TITLE; DEFINITIONS; MISCELLANEOUS
37 - Beer production credit.

 
    §  37.  Beer production credit. (a) General. A taxpayer subject to tax
  under article nine-A or twenty-two of this chapter, that  is  registered
  as  a  distributor  under  article  eighteen  of  this chapter, and that
  produces sixty million or fewer gallons of beer in  this  state  in  the
  taxable year, shall be allowed a credit against such taxes in the amount
  specified  in  subdivision  (b)  of  this  section  and  pursuant to the
  provisions referenced in subdivision  (c)  of  this  section.  Provided,
  however, that no credit shall be allowed for any beer produced in excess
  of fifteen million five hundred thousand gallons in the taxable year. If
  the  taxpayer is a partner in a partnership or shareholder of a New York
  S corporation, then the cap imposed by the preceding sentence  shall  be
  applied at the entity level, so that the aggregate credit allowed to all
  the  partners  or  shareholders  of each such entity in the taxable year
  does not exceed that cap.
    (b) The amount of the credit per taxpayer per  taxable  year  (or  pro
  rata  share  of  earned  credit  in  the case of a partnership) for each
  gallon of beer produced in this state  on  or  after  April  first,  two
  thousand twelve shall be determined as follows:
    (1)  for  the  first five hundred thousand gallons of beer produced in
  this state in the taxable year, the credit shall  equal  fourteen  cents
  per gallon; and
    (2) for each gallon of beer produced in this state in the taxable year
  in  excess of five hundred thousand gallons, the credit shall equal four
  and one-half cents per gallon.
    (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, subdivision 45.
    (2) Article 22: Section 606, subsections (i) and (uu).