Chapter 407 of the Laws of 1999 amended the Tax Law to allow a credit for purchase of an automated external defibrillator, as defined under section 3000-b of the Public Health Law. The credit applies to tax years beginning on or after January 1, 2001. A taxpayer may claim the credit for each automated external defibrillator purchased (other than for resale) during the tax year.
The following taxpayers are eligible to claim the credit:
— General business corporations taxable under Article 9-A;
— Banking corporations taxable under Article 32; and
— Insurance corporations taxable under Article 33.
The amount of the credit allowed for each automated external defibrillator purchased (other than for resale) during the tax year is equal to the lesser of:
— the cost to the taxpayer of the automated external defibrillator; or
There is no limit on the number of automated external defibrillators purchased during the tax year on which the credit may be claimed. However, the credit cannot exceed $500 for each unit purchased. The credit cannot reduce the tax to less than the following minimum taxes:
— the larger of the tax on minimum taxable income base or fixed dollar minimum tax as computed under Article 9-A;
— the fixed minimum tax of $250 computed under Article 32; or
— the fixed tax of $250 under Article 33.
Any amount of the credit not applied against the current tax year may not be carried over to the following year or years. The credit is not refundable. Any amount of the credit not applied against the current tax year may not be claimed as an overpayment of tax. The credit cannot be applied against the metropolitan transportation business tax surcharge (MTA surcharge) under Articles 9-A, 32 or 33.
Section 3000-b(1)(a) of the Public Health Law provides that an automated external defibrillator means a medical device, approved by the United States Food and Drug Administration, that: (i) is capable of recognizing the presence or absence, in a patient, of ventricular fibrillation and rapid ventricular tachycardia; (ii) is capable of determining without intervention by an operator, whether defibrillation should be performed on the patient; (iii) upon determining that defibrillation should be performed, automatically charges and requests delivery of an electrical impulse to the patient’s heart; and (iv) then, upon action by the operator, delivers an appropriate electrical impulse to the patient’s heart to perform defibrillation