Provides that the tax imposed upon the sales on goods or services purchased from businesses which employ twenty or less persons, are resident in this state, are independently owned and operated and not dominant in their field shall be two percent.
Imposes an additional two percent sales tax on retail sales of motor vehicles over $70,000, excluding commercial vehicles and electric vehicles, jewelry over $5,000 and articles of clothing, footwear, handbags, luggage, umbrellas, wallets or watches sold for over $1,000; provides that such tax shall be distributed equally to the credit of the state university of New York and the city university of New York.
Provides a state income tax exemption for volunteer firefighters and volunteer ambulance workers who have qualifying service in the taxable year for which such exemption is sought.
Relates to increasing the taxes imposed on distributors of beers and to directing revenue generated from such taxes be deposited to the credit of SUNY and CUNY; increases such taxes to thirty cents per gallon.
Provides a tax deduction for small business employers of 25% of the wages, salary or compensation paid to up to ten employees who earn up to 110% of the minimum wage.
Establishes the addiction prevention and recovery act; increases taxes on alcohol by fifty percent; allocates the increased revenue to a special fund to be used for the purposes of alcohol and substance abuse addiction prevention and recovery services and programs.
Authorizes the trading of existing but unused research and development credits and existing but unused net operating loss deductions to existing corporations and partnerships in return for private assistance; enacts the "Small New York Based High-Technology Business Investment Tax Credit Act".
Creates a small business electric energy tax credit; specifies that the amount of credit shall be equal to the product of $0.02 per kilowatt hour; sets limit of no more than 19 full-time employees in New York state; determines that if the business is located at the primary residence of a sole proprietor, the business is not eligible for the tax credit.
Relates to exemptions from sales and use tax for books, candy, pictures, posters, trinkets, or any item containing a logo, collectable or seasonal item sold at a book fair or program.