Bill Text: NY S08038 | 2015-2016 | General Assembly | Introduced
Bill Title: Relates to taxation of unincorporated businesses.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2016-06-16 - SUBSTITUTED BY A10266 [S08038 Detail]
Download: New_York-2015-S08038-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8038 IN SENATE June 7, 2016 ___________ Introduced by Sen. LANZA -- -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the administrative code of the city of New York, in relation to the taxation of unincorporated businesses The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivisions (a) and (b) of section 11-514 of the adminis- 2 trative code of the city of New York, as amended by section 18 of part Q 3 of chapter 60 of the laws of 2016, are amended to read as follows: 4 (a) General. An unincorporated business income tax return shall be 5 made and filed, and the balance of any tax shown on the face of such 6 return, not previously paid as installments of estimated tax, shall be 7 paid, on or before the fifteenth day of the fourth month following the 8 close of a taxable year [for taxable years beginning before January9first, two thousand sixteen, and], except that in the case of an unin- 10 corporated business classified as a partnership for federal income tax 11 purposes, such return shall be made and filed and such balance shall be 12 paid on or before the fifteenth day of the third month following the 13 close of a taxable year for taxable years beginning on or after January 14 first, two thousand sixteen, by or for every: 15 (1) [by or for every] unincorporated business, for taxable years 16 beginning after nineteen hundred eighty-six but before nineteen hundred 17 ninety-seven, having unincorporated business gross income, determined 18 for purposes of this subdivision without any deduction for the cost of 19 goods sold or services performed, of more than ten thousand dollars, or 20 having any amount of unincorporated business taxable income; 21 (2) [by or for every] partnership, for taxable years beginning after 22 nineteen hundred ninety-six but before two thousand nine, having unin- 23 corporated business gross income, determined for purposes of this subdi- 24 vision without any deduction for the cost of goods sold or services 25 performed, of more than twenty-five thousand dollars, or having unincor- 26 porated business taxable income of more than fifteen thousand dollars; 27 (3) [by or for every] unincorporated business other than a partner- 28 ship, for taxable years beginning after nineteen hundred ninety-six but EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD15559-01-6S. 8038 2 1 before two thousand nine, having unincorporated business gross income, 2 determined for purposes of this subdivision without any deduction for 3 the cost of goods sold or services performed, of more than seventy-five 4 thousand dollars, or having unincorporated business taxable income of 5 more than thirty-five thousand dollars; and 6 (4) [by or for every] unincorporated business, for taxable years 7 beginning after two thousand eight, having unincorporated business gross 8 income, determined for purposes of this subdivision without any 9 deduction for the cost of goods sold or services performed, of more than 10 ninety-five thousand dollars. 11 (b) Decedents. The return for any deceased individual shall be made 12 and filed by his or her executor, administrator, or other person charged 13 with his or her property. If a final return of a decedent is for a frac- 14 tional part of a year, the due date of such return shall be[, for taxa-15ble years beginning before January first, two thousand sixteen,] the 16 fifteenth day of the fourth month following the close of the twelve- 17 month period that began with the first day of such fractional part of 18 the year[, and, for taxable years beginning on or after January first,19two thousand sixteen, the fifteenth day of the third month following the20close of the twelve-month period that began with the first day of such21fractional part of the year]. 22 § 2. Subdivision (i) of section 11-527 of the administrative code of 23 the city of New York, as amended by section 19 of part Q of chapter 60 24 of the laws of 2016, is amended to read as follows: 25 (i) Prepaid tax. For purposes of this section, any tax paid by the 26 taxpayer before the last day prescribed for its payment and any amount 27 paid by the taxpayer as estimated tax for a taxable year shall be deemed 28 to have been paid by the taxpayer[, for taxable years beginning before29January first, two thousand sixteen,] on the fifteenth day of the fourth 30 month following the close of his or her taxable year with respect to 31 which such amount constitutes a credit or payment, [and,] except that 32 for taxable years beginning on or after January first, two thousand 33 sixteen, in the case of a taxpayer classified as a partnership for 34 federal income tax purposes, such amount shall be deemed to have been 35 paid on the fifteenth day of the third month following the close of his 36 or her taxable year with respect to which such amount constitutes a 37 credit or payment. 38 § 3. This act shall take effect immediately.
