New York A03306 creates a tax credit for small businesses required to maintain marine bulkheads.

New York A03306 amends the tax law to create a tax credit for small businesses required to maintain marine bulkheads. The credit applies to businesses independently owned and operated, employing one hundred or fewer persons on a full-time basis within the state. It covers the full cost of bulkhead maintenance for taxable years starting after January 1, 2025. To qualify, businesses must submit documentation to the commissioner substantiating their requirement to maintain marine bulkheads.

New York A03306 creates a tax credit for small businesses required to maintain marine bulkheads.

New York A03306 amends the tax law to create a tax credit for small businesses required to maintain marine bulkheads. The credit applies to businesses independently owned and operated, employing one hundred or fewer persons on a full-time basis within the state. It covers the full cost of bulkhead maintenance for taxable years starting after January 1, 2025. To qualify, businesses must submit documentation to the commissioner substantiating their requirement to maintain marine bulkheads.