New York A02317 proposes a tax credit for businesses sourcing local food and products.

New York A02317 amends the tax law to introduce a local food and products sourcing tax credit. Businesses subject to tax liability can claim this credit at the end of the tax year. The credit amount varies based on the percentage of net sales attributed to local products, ranging from $1,500 to $25,000. A "local product" is defined as any product grown, raised, produced, or manufactured within New York state. A "producer" is an individual or entity acting as a farmer, student farmer, or manufacturer in New York, excluding wholesalers or distributors.

New York A02317 proposes a tax credit for businesses sourcing local food and products.

New York A02317 amends the tax law to introduce a local food and products sourcing tax credit. Businesses subject to tax liability can claim this credit at the end of the tax year. The credit amount varies based on the percentage of net sales attributed to local products, ranging from $1,500 to $25,000. A "local product" is defined as any product grown, raised, produced, or manufactured within New York state. A "producer" is an individual or entity acting as a farmer, student farmer, or manufacturer in New York, excluding wholesalers or distributors.