New York A03385 establishes a tax credit for grocery donations to food pantries.

New York A03385 amends the tax law to create a tax credit for grocery donations to food pantries. Eligible taxpayers, including grocery stores, food brokers, wholesalers, restauranteurs, and catering services, can claim a credit equal to 25% of the wholesale value of their qualified donations. A qualified donation is surplus or about-to-waste food, such as fruits, vegetables, meats, poultry, eggs, and dairy products. The credit is capped at $5,000 per taxable year.

New York A03385 establishes a tax credit for grocery donations to food pantries.

New York A03385 amends the tax law to create a tax credit for grocery donations to food pantries. Eligible taxpayers, including grocery stores, food brokers, wholesalers, restauranteurs, and catering services, can claim a credit equal to 25% of the wholesale value of their qualified donations. A qualified donation is surplus or about-to-waste food, such as fruits, vegetables, meats, poultry, eggs, and dairy products. The credit is capped at $5,000 per taxable year.