Bill Text: NY S06408 | 2021-2022 | General Assembly | Introduced

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

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO BUDGET AND REVENUE [S06408 Detail]

Download: New_York-2021-S06408-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          6408

                               2021-2022 Regular Sessions

                    IN SENATE

                                     April 27, 2021
                                       ___________

        Introduced by Sen. OBERACKER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue

        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.
                                                                   LBD08840-01-1
        S. 6408                             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    § 2. This act shall take effect January 1, 2022, and  shall  apply  to
     7  all taxes required to be deducted and withheld on and after such date.