Provides for funding for the consolidated local street and highway improvement program and the COVID-19 pandemic small business recovery grant program from a percentage of online sales taxes.
Establishes the New York small business relief fund to provide grants to small businesses who have suffered economic hardship as a result of the COVID-19 pandemic; provides for a tax write-off for gifts made to such fund.
Provides motor fuel tax exemption for sales of diesel motor fuel used in vessels used directly in a business providing sport fishing opportunities for hire to the general public from the tax on petroleum businesses and from sales and compensating use taxes.
Enacts the "opened physician entrance (OPEN) act"; requires every health care provider's office that provides outpatient services to install at least one automatic entry door; provides income tax credits for providers who install an automatic door if they did not previously have one.
Grants a state personal income tax deduction for retirement plan distributions used to purchase long-term care insurance; exempts distributions from individual retirement accounts and individual retirement annuities from state personal income taxation when such distributions are used to purchase long-term health care insurance.
Establishes a residential fuel oil storage tank credit; directs the office of temporary and disability assistance to establish a program to assist eligible households in the replacement of residential fuel oil storage tanks.
Relates to rebates on stock transfer tax paid; decreases amount to sixty percent; dedicates funds of the stock transfer tax fund to the dedicated infrastructure investment fund.
Increases the tax imposed on the sale of certain tobacco products from 75% to 129% and increases the tax imposed on the retail sale of vapor products from 20% to 48%; makes conforming changes.
Relates to increasing the volunteer firefighters' and ambulance workers' credit; increases the amount of the credit from $200 to $500 for single filers and from $400 to $1,000 for spouses filing jointly.
Raises the tax rate on corporate income; increases the state conformity to federal taxation of corporate profit shifting; imposes an additional tax on individual business income in response to federal tax benefits for pass-through business income.