S03971 Summary:

BILL NOS03971
 
SAME ASSAME AS A05545
 
SPONSORRANZENHOFER
 
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 NOS03971
 
02/25/2015REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
06/16/2015COMMITTEE DISCHARGED AND COMMITTED TO RULES
06/16/2015ORDERED TO THIRD READING CAL.1612
06/16/2015SUBSTITUTED BY A5545
 A05545 AMEND= Steck
 02/27/2015referred to ways and means
 06/09/2015reported referred to rules
 06/15/2015reported
 06/15/2015rules report cal.352
 06/15/2015ordered to third reading rules cal.352
 06/16/2015passed assembly
 06/16/2015delivered to senate
 06/16/2015REFERRED TO RULES
 06/16/2015SUBSTITUTED FOR S3971
 06/16/2015PASSED SENATE
 06/16/2015RETURNED TO ASSEMBLY
 11/10/2015delivered to governor
 11/20/2015vetoed memo.232
 11/20/2015tabled
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S03971 Memo:

Memo not available
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S03971 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3971
 
                               2015-2016 Regular Sessions
 
                    IN SENATE
 
                                    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    § 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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