Bill Text: NY A04888 | 2013-2014 | General Assembly | Amended

New York Assembly Bill 4888 (Prior Session Legislation)

Bill Title: Exempts the first $1,250,000 of earnings from self-employment during any tax year, from the metropolitan commuter transportation mobility tax.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced - Dead) 2014-06-17 - held for consideration in ways and means [A04888 Detail]

Download: New_York-2013-A04888-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        4888--A
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 13, 2013
                                      ___________
       Introduced  by  M.  of  A.  CUSICK,  KAVANAGH, MILLMAN, MILLER, GALEF --
         Multi-Sponsored by -- M.  of  A.  JACOBS,  LENTOL  --  read  once  and
         referred  to  the  Committee  on  Ways and Means -- recommitted to the
         Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2
         -- committee discharged, bill amended, ordered  reprinted  as  amended
         and recommitted to said committee
       AN  ACT  to  amend the tax law, in relation to exempting self-employment
         earnings of one million two hundred fifty  thousand  dollars  or  less
         from the metropolitan commuter transportation mobility tax
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph 2 of subsection (a) of section  801  of  the  tax
    2  law,  as  amended  by  section  1 of part N of chapter 59 of the laws of
    3  2012, is amended to read as follows:
    4    (2) For individuals, the tax is  imposed  at  a  rate  of  thirty-four
    5  hundredths  (.34)  percent  of  the net earnings from self-employment of
    6  individuals that are attributable to the MCTD if such earnings attribut-
    7  able to the MCTD exceed ONE MILLION TWO HUNDRED fifty  thousand  dollars
    8  for the tax year.
    9    S 2. This act shall take effect April 1, 2015.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05529-03-4