Bill Text: NY A06700 | 2011-2012 | General Assembly | Introduced

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Bill Title: Increases the threshold of employer's withheld taxes.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2012-06-19 - held for consideration in ways and means [A06700 Detail]

Download: New_York-2011-A06700-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6700
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                    March 25, 2011
                                      ___________
       Introduced by M. of A. TENNEY -- read once and referred to the Committee
         on Ways and Means
       AN ACT to amend the tax law, in relation to increasing the threshold for
         employer's return and payment of withheld taxes
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraphs 1 and 2 of subsection (a) of section 674 of  the
    2  tax  law,  paragraph  1  as added by chapter 166 of the laws of 1991 and
    3  paragraph 2 as amended by chapter 477 of the laws of 1998,  are  amended
    4  to read as follows:
    5    (1)  If, after having made a payroll, an employer has been required to
    6  deduct and withhold, but has  not  paid  over,  a  cumulative  aggregate
    7  amount  of  [seven hundred] ONE THOUSAND dollars or more of tax during a
    8  calendar quarter, such employer shall file a return  and  pay  over  the
    9  tax.  If an employer was required to remit a cumulative aggregate amount
   10  of less than fifteen thousand dollars  in  withholding  tax  during  the
   11  calendar  year  which precedes the previous calendar year, the tax shall
   12  be paid over on or before the fifth business day following the  date  of
   13  making such a payroll. If an employer was required to remit a cumulative
   14  aggregate amount more than or equal to fifteen thousand dollars in with-
   15  holding  tax during the calendar year which precedes the previous calen-
   16  dar year, the tax shall be paid over on or before the third business day
   17  following the date of making such a payroll. In the case of  an  "educa-
   18  tional  organization"  as  defined in paragraph two of subsection (a) of
   19  section nine of this chapter or a "health care provider" as  defined  in
   20  paragraph  four  of  subsection (a) of section nine of this chapter, the
   21  tax shall be paid over on or before the fifth business day following the
   22  date of making such a payroll.
   23    (2) If, at the close of any calendar quarter,  an  employer  has  been
   24  required  to  deduct  and  withhold, but has not paid over, a cumulative
   25  aggregate amount of less than [seven hundred] ONE  THOUSAND  dollars  of
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD09834-01-1
       A. 6700                             2
    1  tax  during  such calendar quarter, such employer shall pay over the tax
    2  with the quarterly combined withholding, wage reporting and unemployment
    3  insurance return required to be filed for such quarter by paragraph four
    4  of  this subsection, on or before the last date prescribed by such para-
    5  graph for filing such return.
    6    S 2. This act shall take effect January 1, 2012, and  shall  apply  to
    7  all taxes required to be deducted and withheld on and after such date.