S03971 Summary:

BILL NO    S03971 

SAME AS    SAME AS A05545

SPONSOR    RANZENHOFER

COSPNSR    

MLTSPNSR   

Amd S16, Tax L

Relates to taxpayers filing under article twenty-two of the tax law to include
for the purposes of the tax factor all business income attributable to a QEZE
business.
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S03971 Actions:

BILL NO    S03971 

02/25/2015 REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
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S03971 Votes:

There are no votes for this bill in this legislative session.
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S03971 Memo:

Memo not available
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S03971 Text:

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

                                         3971

                              2015-2016 Regular Sessions

                                   I N  S E N A T E

                                   February 25, 2015
                                      ___________

       Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
         when printed to be committed to the Committee  on  Investigations  and
         Government Operations

       AN ACT to amend the tax law, in relation to QEZE tax reduction credits

         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:

    1    Section 1. Paragraph 1 of subdivision (f) of section  16  of  the  tax
    2  law,  as  amended  by  section 34 of part A of chapter 59 of the laws of
    3  2014, is amended to read as follows:
    4    (1) General. The tax factor shall be, in the case of article nine-A of
    5  this chapter, the amount of tax determined for the  taxable  year  under
    6  paragraph  (a)  of  subdivision  one  of section two hundred ten of such
    7  article. The tax factor shall be, in the case of article  twenty-two  of
    8  this  chapter, the tax determined for the taxable year under subsections
    9  (a) through (d) of section six hundred one  of  such  article.  PROVIDED
   10  HOWEVER, TAXPAYERS FILING UNDER ARTICLE TWENTY-TWO OF THIS CHAPTER SHALL
   11  INCLUDE FOR THE PURPOSES OF THE TAX FACTOR ALL BUSINESS INCOME ATTRIBUT-
   12  ABLE  TO  A  QEZE  BUSINESS WHICH IS TAXABLE UNDER ARTICLE TWENTY-TWO OF
   13  THIS CHAPTER. The tax factor shall be, in the case  of  article  thirty-
   14  three  of  this chapter, the larger of the amounts of tax determined for
   15  the taxable year under paragraphs one and three of  subdivision  (a)  of
   16  section fifteen hundred two of such article.
   17    S 2. This act shall take effect immediately.



        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD09283-01-5
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