Bill Text: NY S00561 | 2017-2018 | General Assembly | Introduced
Bill Title: Requires the commissioner of taxation and finance, when using external indices to determine sales and compensating use tax due because of failure to file a return or filing of an incorrect return, to use external indices which reflect local economic conditions.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Engrossed - Dead) 2018-06-20 - COMMITTED TO RULES [S00561 Detail]
Download: New_York-2017-S00561-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 561 2017-2018 Regular Sessions IN SENATE (Prefiled) January 4, 2017 ___________ Introduced by Sens. YOUNG, RANZENHOFER -- read twice and ordered print- ed, and when printed to be committed to the Committee on Investi- gations and Government Operations AN ACT to amend the tax law, in relation to the determination of sales and compensating use taxes due The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision (a) of section 1138 of the tax law is amended 2 by adding a new paragraph 5 to read as follows: 3 (5) Whenever a return required by this article is not filed, or if a 4 return when filed is incorrect or insufficient, and the amount of tax 5 due is determined by the commissioner from such information as may be 6 available pursuant to paragraph one of this subdivision, any external 7 indices used to estimate the tax due shall reflect the local economic 8 conditions. 9 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05892-01-7
