New York—Multiple Taxes: Certain 2020 Budget Bill Tax Changes Summarized

01 October 2020

New York issued summaries of alcoholic beverages, cigarette and tobacco products, and sales and use tax changes enacted in the 2020-21 budget legislation, including amendments regarding:

  • alcoholic beverages tax on liquor containing 2% or less of alcohol by volume reduced to zero;
  • alcoholic beverages tax interdistributor exemption;
  • revised definition of “wholesale price” of tobacco products;
  • cigarette tax enforcement and licensing penalties;
  • new definition of “research tobacco product” and new information reporting requirements for research tobacco products;
  • sales and use tax exemptions on certain purchases of tangible personal property and services for leased commercial office space in Lower Manhattan are extended;
  • alcoholic beverage licensees’ exclusion from filing the annual sales tax information return updated and expanded; and
  • START-UP NY program applications.