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Bill

A 3221

Creates a tax credit for small businesses that sell a certain percentage of products produced in New York state

2025 Regular Session Introduced by Joe Angelino and 17 co-sponsors

Bill A 3221 offers tax credits to New York small businesses selling local products, boosting local manufacturing and stimulating the economy.

HELD FOR CONSIDERATION IN WAYS AND MEANS
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Bill Summary · A 3221

Summary of Bill A 3221

Purpose and Intent

Bill A 3221 aims to support small businesses in New York State by providing a tax credit for those that sell a specified percentage of products produced within the state. The intent of the bill is to encourage local manufacturing, stimulate the economy, and promote the consumption of locally made goods.

Key Provisions

  • Tax Credit Eligibility: Small businesses that sell at least a certain percentage (exact percentage not specified in the provided information) of products manufactured in New York State will qualify for a tax credit.
  • Credit Amount: The bill does not specify the exact amount of the tax credit, but it is designed to provide financial relief and incentivize local production.
  • Application Process: The bill outlines a process for small businesses to apply for the tax credit, although specific details on the application procedure are not included in the provided information.

Affected Parties

  • Small Businesses: The primary beneficiaries of this bill are small businesses operating in New York State that engage in the sale of locally produced goods.
  • Consumers: By promoting local products, consumers may benefit from increased availability of New York-made goods.
  • Local Economy: The bill is expected to have a positive impact on the local economy by encouraging manufacturing and supporting small businesses.

Legislative Status and Timeline

  • Introduced: January 23, 2025
  • Current Status: As of June 6, 2025, the bill is held for consideration in the Ways and Means Committee. This indicates that further discussion and potential amendments are pending before it can proceed to a vote.
  • Related Legislation:
    • A 8336 (prior-session)
    • A 2954 (prior-session)
    • S 2654 (companion bill in the Senate)

Conclusion

Bill A 3221 represents an effort to bolster New York's small business sector by incentivizing the sale of locally produced goods through a tax credit. The bill is currently under consideration and could play a significant role in enhancing local manufacturing and economic growth if passed. Further details regarding the specific percentage of sales required for eligibility and the amount of the tax credit will be crucial for understanding the full impact of this legislation.

Compiled from official sources — confirm details with the bill’s official record.

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