New York S01073 amends the tax law to provide a sales and compensating use tax exemption in certain areas of New York City.

New York S01073 amends the tax law by adding a new paragraph to section 1101, defining goods and services as any good or service with a value less than one hundred ten dollars. It also amends section 1115 to provide a sales and compensating use tax exemption for goods and services sold in business zone areas during periods of authorized construction. The exemption lasts for six months for each specified business zone area, starting on the first day of authorized construction. The bill takes effect immediately.

New York S01073 amends the tax law to provide a sales and compensating use tax exemption in certain areas of New York City.

New York S01073 amends the tax law by adding a new paragraph to section 1101, defining goods and services as any good or service with a value less than one hundred ten dollars. It also amends section 1115 to provide a sales and compensating use tax exemption for goods and services sold in business zone areas during periods of authorized construction. The exemption lasts for six months for each specified business zone area, starting on the first day of authorized construction. The bill takes effect immediately.