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Assembly Bill A10351

2011-2012 Legislative Session

Relates to information returns relating to payments made in settlement of payment card and third party network transactions

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Archive: Last Bill Status - In Assembly Committee

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2011-A10351 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง1703, Tax L
Versions Introduced in 2013-2014 Legislative Session:
A862

2011-A10351 (ACTIVE) - Summary

Relates to information returns relating to payments made in settlement of payment card and third party network transactions.

2011-A10351 (ACTIVE) - Bill Text download pdf 

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

                                  10351

                          I N  A S S E M B L Y

                              May 24, 2012
                               ___________

Introduced by M. of A. WEPRIN -- read once and referred to the Committee
  on Ways and Means

AN ACT to amend the tax law, in relation to information returns relating
  to payments made in settlement of payment card and third party network
  transactions

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

  Section 1. Paragraph (c) of subdivision 1 of section 1703 of  the  tax
law,  as added by section 1 of part E of chapter 57 of the laws of 2010,
is amended to read as follows:
  (c) Any information received  by  the  department  on  an  information
return  filed  pursuant  to this section, concerning a person who is not
subject to tax in New York, or is not subject to any requirement imposed
by or pursuant to the authority of this chapter, may not be used by  the
department. The department shall not redisclose any information received
on  an information return filed pursuant to this section, EXCEPT THAT IT
MAY DISCLOSE TO THE COMMISSIONER OF FINANCE OF THE CITY OF NEW YORK, FOR
THE PURPOSE OF THE ADMINISTRATION OF LAWS RELATING TO TAXES  OR  CHARGES
COLLECTED BY THE COMMISSIONER OF FINANCE OF THE CITY OF NEW YORK, INFOR-
MATION  RECEIVED ON SUCH RETURNS CONCERNING ANY PERSON OR ENTITY THAT IS
SUBJECT TO TAX IN NEW YORK OR SUBJECT TO ANY REQUIREMENT IMPOSED  BY  OR
PURSUANT TO THE AUTHORITY OF THIS CHAPTER.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15813-01-2

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