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2020 New York Laws
TAX - Tax
Article 1 - Short Title; Definitions; Miscellaneous
14-A - Imb Credit for Energy Taxes.

Universal Citation: NY Tax L § 14-A (2020)
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* §  14-a.  IMB  credit  for  energy taxes. (a) Allowance of credit. A
taxpayer which is an industrial  or  manufacturing  business  (IMB),  or
which  is a sole proprietor of an IMB or a member of a partnership which
is an IMB,  and  which  is  subject  to  tax  under  article  nine-A  or
twenty-two  of this chapter, shall be allowed a credit against such tax,
pursuant to  the  provisions  referenced  in  subdivision  (d)  of  this
section. Such credit shall be equal to the sum (or pro rata share of the
sum,  in  the  case  of  a member of a partnership) of the taxes imposed
under sections one hundred eighty-six-a, one hundred  eighty-six-c,  one
hundred  eighty-nine and one hundred eighty-nine-a of this chapter which
during the taxable year were either paid by, or passed through  to,  the
IMB,  on  or  after January first, two thousand, but only with regard to
gas, electricity, steam,  water  or  refrigeration,  or  gas,  electric,
steam,  water  or refrigeration services, consumed or used by the IMB in
this state.
  (b) Definitions. The term "industrial or manufacturing business" shall
mean a business which during the taxable year is principally engaged  in
activities  described  in  clause  (A),  (B)  or (C), or any combination
thereof, of subparagraph (i) of paragraph (b) of subdivision  twelve  of
section two hundred ten of this chapter.
  (c)  Any  person who collects from, or passes through to, the IMB, any
tax as described in subdivision (a) of this section, shall  provide  the
IMB  with  the information with respect to such tax passed through which
may be required to enable the taxpayer to correctly compute  the  credit
provided for in this section.
  (d)  Cross-references.  For  application of the credit provided for in
this section, see the following provisions of this chapter:
  (1) Article 9-A: Section 210.26-a.
  (2) Article 22: Sections 606(i) and (t-1).
  * NB Expired for taxable years ending on and after January 1, 2007
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