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Senate Bill S1690

2009-2010 Legislative Session

Provides for refund of or credit against petroleum business taxes, for sales on accounts included in gross receipts and ascertained to be uncollectible

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

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2009-S1690 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add ยง304, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S2109

2009-S1690 (ACTIVE) - Summary

Provides for refund of or credit to petroleum vendors for petroleum business taxes paid by the vendors who are then unable to recoup the taxes from the consumer because the account becomes uncollectible.

2009-S1690 (ACTIVE) - Sponsor Memo

2009-S1690 (ACTIVE) - Bill Text download pdf 

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

                                  1690

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 5, 2009
                               ___________

Introduced  by  Sen.  KRUGER -- 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 providing for refund  of  or
  credit  against  petroleum  business  taxes,  for  sales  on  accounts
  included in gross receipts and ascertained to be uncollectible

  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 304 to read
as follows:
  S 304. UNCOLLECTIBLE ACCOUNTS REFUND OR CREDIT.   NOTWITHSTANDING  ANY
OTHER  PROVISION  OF LAW, THERE SHALL BE A REFUND OF, OR CREDIT AGAINST,
ANY TAX AND TAX SURCHARGE IMPOSED BY THIS ARTICLE ON A  PETROLEUM  BUSI-
NESS, FOR TAXES PAID FOR GALLONAGE INCLUDED IN GROSS RECEIPTS FROM SALES
ON  ACCOUNT  AND  OTHERWISE INCLUDABLE IN THE MEASURE OF ANY SUCH TAX OR
TAX SURCHARGE, FOR ACCOUNTS WHICH ARE ASCERTAINED  TO  BE  UNCOLLECTIBLE
(IN  WHOLE  OR  IN  PART);  PROVIDED, HOWEVER, THAT THE REFUND OR CREDIT
SHALL ONLY BE AVAILABLE IF THE TAXES PAID BY THE PETROLEUM BUSINESS  ARE
SEPARATELY ITEMIZED ON THE INVOICE AND ONLY TO THE EXTENT THAT THE TAXES
IMPOSED   AND  REMITTED  TO  THE  DEPARTMENT  REMAIN  UNPAID.  THE  TERM
"UNCOLLECTIBLE"  MEANS  WORTHLESS,  AS  USED  FOR  FEDERAL  INCOME   TAX
PURPOSES.
  S  2.  This  act  shall  take  effect  on  the first of September next
succeeding the date on which it shall have become a  law  and  shall  be
applicable  to  any  tax and tax surcharge due under article 13-A of the
tax law after its effective date and attributable to gallonage  sold  or
received  or  sales  made  after such effective date; provided, however,
that effective immediately, the addition, amendment and/or repeal of any
rules or regulations necessary for the implementation of  the  foregoing
section of this act on its effective date are authorized and directed to
be made and completed on or before such effective date.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08367-01-9

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