Expands New York's manufacturing tax incentive to include S corporations that are qualified New York state manufacturers.

The bill amends New York's tax law to expand the manufacturing tax incentive to include S corporations that are qualified New York state manufacturers. This expansion applies to shareholders of these S corporations, modifying their tax treatment based on specific provisions. The changes take effect on January 1 of the year following the bill's enactment, applying to all subsequent tax years.

Expands New York's manufacturing tax incentive to include S corporations that are qualified New York state manufacturers.

The bill amends New York's tax law to expand the manufacturing tax incentive to include S corporations that are qualified New York state manufacturers. This expansion applies to shareholders of these S corporations, modifying their tax treatment based on specific provisions. The changes take effect on January 1 of the year following the bill's enactment, applying to all subsequent tax years.