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A03232 Text:

                STATE OF NEW YORK
                               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
          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.
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