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.
Establishes a tax credit for certain volunteers at 501(c)(3) organizations or organizations affiliated with NY Cares or NY Service who provide at least twenty-five hours of service during the year.
Eliminates provisions of law that require the payment and subsequent refund of the ten cent diesel excise tax and sales tax on diesel motor fuel when sold to operators of commercial fishing vessels for use in the operation of such vessels.
Establishes a clinical preceptorship personal income tax credit for certain health care professionals who provide preceptor instruction to students studying to be a health care professional.
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.
Requires the commissioner of taxation and finance to include space on the personal income tax return to enable a taxpayer to make a contribution to the cure childhood cancer research fund.