Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 19, 2012 |
held for consideration in ways and means |
Jan 04, 2012 |
referred to ways and means |
Jan 25, 2011 |
referred to ways and means |
Assembly Bill A3416
2011-2012 Legislative Session
Sponsored By
SCHIMMINGER
Archive: Last Bill Status - In Assembly 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
co-Sponsors
William Magnarelli
William Magee
Donald R. Miller
Anthony Brindisi
multi-Sponsors
William A. Barclay
Jane Corwin
Andrew Goodell
Earlene Hooper
2011-A3416 (ACTIVE) - Details
2011-A3416 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3416 2011-2012 Regular Sessions I N A S S E M B L Y January 25, 2011 ___________ Introduced by M. of A. SCHIMMINGER, HOYT, MAGNARELLI, MAGEE -- Multi- Sponsored by -- M. of A. HOOPER, KOLB, LAVINE, PEOPLES-STOKES, SCHROEDER, WEISENBERG -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to phasing out the franchise tax on business corporations that are manufacturers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 208 of the tax law is amended by adding two new subdivisions 20 and 21 to read as follows: 20. THE TERM "MANUFACTURER" SHALL MEAN A TAXPAYER WHICH DURING THE TAXABLE YEAR IS PRINCIPALLY ENGAGED IN THE PRODUCTION OF GOODS BY MANU- FACTURING, PROCESSING, ASSEMBLING, REFINING, MINING, EXTRACTING, FARM- ING, AGRICULTURE, HORTICULTURE, FLORICULTURE, VITICULTURE OR COMMERCIAL FISHING. MOREOVER, FOR PURPOSES OF COMPUTING THE CAPITAL BASE IN A COMBINED REPORT, THE GROUP SHALL BE CONSIDERED A "MANUFACTURER" FOR PURPOSES OF THIS ARTICLE ONLY IF THE COMBINED GROUP DURING THE TAXABLE YEAR IS PRINCIPALLY ENGAGED IN THE ACTIVITIES SET FORTH IN THIS SUBDI- VISION, OR ANY COMBINATION THEREOF. 21. THE TERM "PRINCIPALLY ENGAGED" SHALL INCLUDE A TAXPAYER OR A COMBINED GROUP IF, DURING THE TAXABLE YEAR, MORE THAN FIFTY PERCENT OF THE GROSS RECEIPTS OF THE TAXPAYER OR COMBINED GROUP, RESPECTIVELY, ARE DERIVED FROM RECEIPTS FROM THE SALE OF GOODS PRODUCED BY MANUFACTURING. IN COMPUTING A COMBINED GROUP'S GROSS RECEIPTS, INTERCORPORATE RECEIPTS SHALL BE ELIMINATED. S 2. Section 209 of the tax law is amended by adding a new subdivision 11 to read as follows: 11. (A) FOR ANY TAXABLE YEAR BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWELVE, A TAXPAYER WHO IS A MANUFACTURER SHALL BE EXEMPT FROM FIFTY PERCENT OF ALL TAXES IMPOSED BY THIS ARTICLE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06163-01-1
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