Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 11, 2009 |
signed chap.183 |
Jul 10, 2009 |
delivered to governor |
Jul 09, 2009 |
returned to assembly repassed senate vote reconsidered - restored to third reading |
Jun 30, 2009 |
passed senate 3rd reading cal.674 substituted for s5519 |
Jun 30, 2009 |
substituted by a8615 ordered to third reading cal.674 committee discharged and committed to rules |
May 13, 2009 |
referred to cities |
Senate Bill S5519
Signed By Governor2009-2010 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status Via A8615 - Signed by Governor
- 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
Votes
co-Sponsors
(D) 15th Senate District
(D, WF) 28th Senate District
(R, C, IP, RFM) 24th Senate District
(D, WF) Senate District
2009-S5519 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8615
- Law Section:
- New York City Administrative Code
- Laws Affected:
- Amd ยงยง11-503, 11-511 & 11-514, NYC Ad Cd
2009-S5519 (ACTIVE) - Summary
Specifies that commencing in 2009, the credit that is applied to reduce an unincorporated business tax will apply to the annual tax totals less than $5,400; the credit will completely offset an annual unincorporated business tax that does not exceed $3,400; simplifies UBT filing requirements and modifies requirements related to paying estimated unincorporated business taxes.
2009-S5519 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5519 TITLE OF BILL : An act to amend the administrative code of the city of New York, in relation to the unincorporated business tax SUMMARY OF PROVISIONS : This bill would amend subdivision (b) of section 11-503 of the New York City Administrative Code by adding a new paragraph 3-a to provide that beginning with taxable years commencing in 2009, the credit that is applied to reduce an unincorporated business tax will apply if the annual tax totals less than $5,400. The credit will completely offset an annual unincorporated business tax that does not exceed $3,400. Bill sections three and four amend Sections 11-511 and 11-514 of the Administrative Code to simplify UBT filing requirements and modify requirements related to paying estimated unincorporated business taxes. REASONS FOR SUPPORT : The proposal is a small-business tax-relief measure designed to encourage the expansion of entrepreneurial enterprises during the current economic downturn. Although the Unincorporated Business Tax (UBT) provides rough parity by taxing entities regardless of business form, it is particularly
2009-S5519 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5519 2009-2010 Regular Sessions I N S E N A T E May 13, 2009 ___________ Introduced by Sen. KRUGER -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the administrative code of the city of New York, in relation to the unincorporated business tax THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subdivision (b) of section 11-503 of the administrative code of the city of New York, as amended by chapter 481 of the laws of 1997, is amended to read as follows: (3) For each taxable year beginning after nineteen hundred ninety-six BUT BEFORE TWO THOUSAND NINE: (A) if the tax computed under subdivision (a) of this section is one thousand eight hundred dollars or less, a credit shall be allowed for the entire amount of such tax; (B) if the tax computed under subdivision (a) of this section exceeds one thousand eight hundred dollars but is less than three thousand two hundred dollars, a credit shall be allowed in the amount determined by multiplying such tax by a fraction the numerator of which is three thou- sand two hundred dollars minus the amount of such tax and the denomina- tor of which is one thousand four hundred dollars; or (C) if the tax computed under subdivision (a) of this section is three thousand two hundred dollars or more, no credit shall be allowed. S 2. Subdivision (b) of section 11-503 of the administrative code of the city of New York is amended by adding a new paragraph 3-a to read as follows: (3-A) FOR EACH TAXABLE YEAR BEGINNING AFTER TWO THOUSAND EIGHT: (A) IF THE TAX COMPUTED UNDER SUBDIVISION (A) OF THIS SECTION IS THREE THOUSAND FOUR HUNDRED DOLLARS OR LESS, A CREDIT SHALL BE ALLOWED FOR THE ENTIRE AMOUNT OF SUCH TAX; (B) IF THE TAX COMPUTED UNDER SUBDIVISION (A) OF THIS SECTION EXCEEDS THREE THOUSAND FOUR HUNDRED DOLLARS BUT IS LESS THAN FIVE THOUSAND FOUR EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11919-01-9
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