Bill Text: NY S03129 | 2015-2016 | General Assembly | Introduced

New York Senate Bill 3129 (Prior Session Legislation)

Introduced

Bill Title: Relates to reducing the sales tax vendor credit.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S03129 Detail]

Download: New_York-2015-S03129-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3129
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                   February 2, 2015
                                      ___________
       Introduced  by  Sen.  ORTT  --  read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations
       AN ACT to amend the tax law, in relation to the sales tax vendor credit
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Paragraph 2 of subdivision (f) of section 1137 of the tax
    2  law, as amended by section 1 of part H of chapter  62  of  the  laws  of
    3  2006, is amended to read as follows:
    4    (2)  The  amount  of  the  credit  authorized by paragraph one of this
    5  subdivision shall be [five] ONE-HALF OF ONE percent  of  the  amount  of
    6  taxes  and  fees  (but  not  including  any penalty or interest thereon)
    7  required to be reported on, and paid or paid over with, the  return  but
    8  only  if  the return is filed on or before the filing due date[, but not
    9  more than two hundred dollars, for  each  quarterly  or  longer  period,
   10  except  that, with respect to returns required to be filed for quarterly
   11  or longer periods ending on or before the  last  day  of  February,  two
   12  thousand  seven,  the  amount  of  the credit shall be not more than one
   13  hundred seventy-five dollars for each such quarterly or longer period].
   14    S 2. This act shall take effect on the  first  day  of  the  quarterly
   15  period,  as described in subdivision (b) of section 1136 of the tax law,
   16  next commencing at least 90 days after the  date  this  act  shall  have
   17  become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02137-01-5