Do you support this bill?

Assembly Bill A6170

2009-2010 Legislative Session

Requires reporting of cash transactions in excess of $10,000

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

2009-A6170 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add ยง171-t, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A5208
2013-2014: A1548
2015-2016: A5708

2009-A6170 (ACTIVE) - Summary

Requires any person engaged in a trade or business who, in the course of such trade or business, receives more than $10,000 in cash in a single transaction or in two or more related transactions to file a return with the commissioner of taxation and finance.

2009-A6170 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6170

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 26, 2009
                               ___________

Introduced by M. of A. HOOPER -- Multi-Sponsored by -- M. of A. BRENNAN,
  CLARK,  GOTTFRIED,  GREENE, JOHN, PERRY, PHEFFER, PRETLOW -- read once
  and referred to the Committee on Ways and Means

AN ACT to amend the tax law, in relation to requiring cash  transactions
  in  excess  of ten thousand dollars to be reported to the commissioner
  of taxation and finance

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  tax  law is amended by adding a new section 171-t to
read as follows:
  S 171-T. RETURNS RELATING TO CASH RECEIVED IN A TRADE OR BUSINESS. (1)
ANY PERSON ENGAGED IN A TRADE OR BUSINESS WHO, IN  THE  COURSE  OF  SUCH
TRADE  OR  BUSINESS RECEIVES MORE THAN TEN THOUSAND DOLLARS IN CASH IN A
SINGLE TRANSACTION, OR IN TWO OR MORE RELATED TRANSACTIONS SHALL  WITHIN
THIRTY  DAYS  OF THE RECEIPT THEREOF FILE A RETURN WITH THE COMMISSIONER
CONTAINING:
  (A) THE NAME, ADDRESS AND SOCIAL SECURITY NUMBER, OR  TAX  IDENTIFICA-
TION  NUMBER  WHERE  DIFFERENT,  OF  THE  PERSON  FROM WHOM THE CASH WAS
RECEIVED,
  (B) THE AMOUNT OF THE CASH RECEIVED, AND
  (C) THE DATE AND NATURE OF THE TRANSACTION.
  (2) FOR PURPOSES OF  THIS  SECTION,  THE  TERM  "CASH"  SHALL  INCLUDE
FOREIGN CURRENCY.
  (3) THE COMMISSIONER SHALL PRESCRIBE SUCH FORMS WHICH ARE NECESSARY TO
EFFECT THE PROVISIONS OF THIS SECTION.
  (4)  EVERY  PERSON  REQUIRED TO MAKE A RETURN UNDER THIS SECTION SHALL
FURNISH TO EACH PERSON WHOSE NAME IS REQUIRED TO BE SET  FORTH  IN  SUCH
RETURN A COPY OF SUCH RETURN.
  S  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law and shall apply to  all
transactions occurring on and after such date.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08745-01-9

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.