Relates to treatment of gains from qualified opportunity zones in calculating taxable income; removes exclusion of gains on property in qualified opportunity zones in calculation of income.
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.
Excludes cigarettes on hand prior to September 1, 2023 from the tax increase where a cigarette tax stamp has been affixed as of the close of business on August 31, 2023.
Establishes the jury duty mileage reimbursement tax credit; allows a juror a credit equal to their reasonable mileage allowance owed for each mile actually and necessarily traveled by such juror who utilizes their personal vehicle in the fulfillment of their jury duty.
Establishes the retire strong tax credit for certain individuals age 65 or older; authorizes a tax credit amounting to half the qualifying real property taxes paid by such individual for the taxable year, up to $6,500.
Establishes a first permanent payroll employee tax credit which allows a business to receive a tax credit for the three years following the employment of such business' first permanent payroll employee where such credit equals a portion of the amount it costs to employ such permanent payroll employee.
Requires a five percent tax on gross income upon every corporation which derives income from the data individuals of this state share with such corporations; establishes the New York data fund to distribute the earnings of the five percent to each taxpayer of the state.
Establishes the public housing fund to be used by the division of housing and community renewal to support existing public housing utilizing money from the real property transfer tax.