STATE OF NEW YORK
________________________________________________________________________
3129
2015-2016 Regular Sessions
IN SENATE
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 § 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
