Relates to imposing a tax on attorney's fees; imposes a two percent tax on attorney's fees over $10,000 not associated with litigation; provides that revenue from such tax shall be deposited monthly into the general fund.
STATE OF NEW YORK
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3232
2023-2024 Regular Sessions
IN ASSEMBLY
February 2, 2023
___________
Introduced by M. of A. EPSTEIN -- read once and referred to the Commit-
tee on Ways and Means
AN ACT to amend the tax law, in relation to imposing a tax on attorney's
fees
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The tax law is amended by adding a new section 48 to read
2 as follows:
3 § 48. Tax imposed on attorney's fees. 1. There is hereby imposed a two
4 percent tax on all attorney's fees over ten thousand dollars. Such tax
5 shall not include any attorney's fees associated with litigation. The
6 commissioner, in conjunction with the chief administrator of the office
7 of court administration, shall promulgate rules and regulations neces-
8 sary for the implementation of this section.
9 2. All taxes, interest and penalties collected or received by the
10 commissioner under this section shall be deposited monthly, to the cred-
11 it of the general fund of the state. The commissioner shall maintain a
12 system of accounts showing the amount of money collected and disbursed
13 from the tax imposed by this section.
14 § 2. This act shall take effect on the ninetieth day after it shall
15 have become a law. Effective immediately, the addition, amendment and/or
16 repeal of any rule or regulation necessary for the implementation of
17 this act on its effective date are authorized to be made and completed
18 on or before such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01728-01-3
