Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 22, 2018 |
print number 445a |
Jan 22, 2018 |
amend and recommit to investigations and government operations |
Jan 03, 2018 |
referred to investigations and government operations |
Jan 04, 2017 |
referred to investigations and government operations |
Senate Bill S445A
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
co-Sponsors
(R, C, IP) Senate District
(R, C) 60th Senate District
(R, C, IP) 62nd Senate District
(R, C, IP) Senate District
2017-S445 - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§658 & 210, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S2482
2011-2012: S846
2013-2014: S2684
2015-2016: S3016
2017-S445 - Sponsor Memo
BILL NUMBER: S445 TITLE OF BILL : An act to amend the tax law, in relation to limited liability company fees and business corporation franchise taxes for farms and commercial horse boarding operations PURPOSE : To exempt farm or commercial horse boarding operations from limited liability filing fees and certain business franchise taxes. SUMMARY OF PROVISIONS : This legislation amends the Tax law to exempt farm operations from filing fees for limited liability (LLC) and S corporations. JUSTIFICATION : In past enacted state budgets, LLC and S corporation filing fees increases were proposed which negatively impacted farms. These fees were increased incrementally as a LLC or S corporation's total gross income, or New York receipts, reached certain thresholds. This legislation would mitigate the financial burden from these filing fee increases for farm operations by using net farm income as reported for federal tax purposes to determine New York receipts. Because New
2017-S445 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 445 2017-2018 Regular Sessions I N S E N A T E (PREFILED) January 4, 2017 ___________ Introduced by Sens. YOUNG, BONACIC, GALLIVAN, ORTT, 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 limited liability company fees and business corporation franchise taxes for farms and commercial horse boarding operations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subsection (c) of section 658 of the tax law, as amended by section 1 of part H-1 of chapter 57 of the laws of 2009, subparagraph (A) as amended by section 13 of part Q of chapter 60 of the laws of 2016, subparagraph (E) as added by section 13 of part S of chapter 59 of the laws of 2015, is amended to read as follows: (3) Filing fees. (A) Every subchapter K limited liability company, every limited liability company that is a disregarded entity for federal income tax purposes, and every partnership which has any income derived from New York sources, determined in accordance with the applicable rules of section six hundred thirty-one of this article as in the case of a nonresident individual, shall on or before the fifteenth day of the third month following the close of each taxable year make a payment of a filing fee. SUCH DEADLINE SHALL NOT APPLY TO FARMS OR COMMERCIAL HORSE BOARDING OPERATIONS, WHICH SHALL, WITHIN ONE HUNDRED TWENTY DAYS AFTER THE LAST DAY OF THE TAXABLE YEAR, MAKE PAYMENT OF A FILING FEE. The amount of the filing fee is the amount set forth in subparagraph (B) of this paragraph. The minimum filing fee is twenty-five dollars for taxa- ble years beginning in two thousand eight and thereafter. Limited liability companies that are disregarded entities for federal income tax purposes must pay a filing fee of twenty-five dollars for taxable years beginning on or after January first, two thousand eight. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
(R, C, IP) Senate District
(R, C) 60th Senate District
(R, C, IP) 62nd Senate District
(R, C, IP) Senate District
2017-S445A (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§658 & 210, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S2482
2011-2012: S846
2013-2014: S2684
2015-2016: S3016
2017-S445A (ACTIVE) - Sponsor Memo
BILL NUMBER: S445A SPONSOR: YOUNG TITLE OF BILL: An act to amend the tax law, in relation to limited liability company fees and business corporation franchise taxes for farms and commercial horse boarding operations PURPOSE: To exempt farm or commercial horse boarding operations from limited liability filing fees and certain business franchise taxes. SUMMARY OF PROVISIONS: This legislation amends the Tax law to exempt farm operations from filing fees for limited liability (LLC) and S corporations. JUSTIFICATION: In past enacted state budgets, LLC and S corporation filing fees
2017-S445A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 445--A 2017-2018 Regular Sessions I N S E N A T E (PREFILED) January 4, 2017 ___________ Introduced by Sens. YOUNG, BONACIC, GALLIVAN, ORTT, RANZENHOFER -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- recommitted to the Committee on Investigations and Government Operations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the tax law, in relation to limited liability company fees and business corporation franchise taxes for farms and commercial horse boarding operations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subsection (c) of section 658 of the tax law, as amended by section 1 of part H-1 of chapter 57 of the laws of 2009, subparagraph (A) as amended by section 13 of part Q of chapter 60 of the laws of 2016, subparagraph (E) as added by section 13 of part S of chapter 59 of the laws of 2015, is amended to read as follows: (3) Filing fees. (A) Every subchapter K limited liability company, every limited liability company that is a disregarded entity for federal income tax purposes, and every partnership which has any income derived from New York sources, determined in accordance with the applicable rules of section six hundred thirty-one of this article as in the case of a nonresident individual, shall on or before the fifteenth day of the third month following the close of each taxable year make a payment of a filing fee. SUCH DEADLINE SHALL NOT APPLY TO FARMS OR COMMERCIAL HORSE BOARDING OPERATIONS, WHICH SHALL, WITHIN ONE HUNDRED TWENTY DAYS AFTER THE LAST DAY OF THE TAXABLE YEAR, MAKE PAYMENT OF A FILING FEE. The amount of the filing fee is the amount set forth in subparagraph (B) of this paragraph. The minimum filing fee is twenty-five dollars for taxa- ble years beginning in two thousand eight and thereafter. Limited EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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