New York A01961 establishes a tax credit for agricultural products sold during USDA organic certification transition.

New York A01961 amends the tax law to create a certified transitional tax credit. This credit applies to taxpayers who sell agricultural products during the transition into USDA organic certification, or under the Whole Foods Market "responsibly grown" label, or the QAI and Hesco, Inc. "certified transitional" label. The credit is equal to 25% of the total pounds of goods sold under these programs, multiplied by one-half. The credit is refundable and can be applied to tax due, with any excess treated as an overpayment.

New York A01961 establishes a tax credit for agricultural products sold during USDA organic certification transition.

New York A01961 amends the tax law to create a certified transitional tax credit. This credit applies to taxpayers who sell agricultural products during the transition into USDA organic certification, or under the Whole Foods Market "responsibly grown" label, or the QAI and Hesco, Inc. "certified transitional" label. The credit is equal to 25% of the total pounds of goods sold under these programs, multiplied by one-half. The credit is refundable and can be applied to tax due, with any excess treated as an overpayment.