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Assembly Bill A7162

2011-2012 Legislative Session

Provides that the buyer of goods or services pays sales tax only on the amount actually paid after the original price has been reduced by any rebate or discount

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Archive: Last Bill Status - In Assembly Committee

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2011-A7162 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง1111, Tax L
Versions Introduced in 2009-2010 Legislative Session:
A7418

2011-A7162 (ACTIVE) - Summary

Provides that the buyer of goods or services pay sales tax only on the amount actually paid after the original price has been reduced by any rebate or discount.

2011-A7162 (ACTIVE) - Bill Text download pdf 

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

                                  7162

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             April 14, 2011
                               ___________

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

AN ACT to amend the tax law, in relation to  computation  of  sales  and
  compensating use taxes when the price paid reflects a discount

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

  Section 1. Section 1111 of the tax law is  amended  by  adding  a  new
subdivision (r) to read as follows:
  (R)  WITH  RESPECT  TO THE SALE OR USE OF ANY GOODS OR THE SALE OF ANY
SERVICES SUBJECT TO TAXATION UNDER THIS ARTICLE THE  SALES  TAX  IMPOSED
UNDER  SECTION ELEVEN HUNDRED FIVE OF THIS PART AND THE COMPENSATING USE
TAX IMPOSED UNDER SECTION ELEVEN HUNDRED  TEN  OF  THIS  PART  SHALL  BE
COMPUTED  ON  THE  PRICE  ACTUALLY PAID BY THE CONSUMER AFTER THE LISTED
PURCHASE PRICE HAS BEEN REDUCED, IF AT ALL,  BY  ANY  DISCOUNT,  REBATE,
CREDIT,  OR  OTHER  ABATEMENT OF THE LISTED PURCHASE PRICE, WHETHER SUCH
DISCOUNT, REBATE, CREDIT, OR OTHER ABATEMENT IS DERIVED FROM A  MANUFAC-
TURER,  DISTRIBUTOR, WHOLESALER, RETAILER, OR ANY ENTITY IN PRIVITY WITH
ANY MANUFACTURER, DISTRIBUTOR, WHOLESALER, OR RETAILER.
  S 2. This act shall take effect on the first day of a sales tax  quar-
terly  period, as such period is described in subdivision (b) of section
1136 of the tax law, beginning at least 60 days after the date this  act
shall  have  become a law and shall apply to sales made on or after that
date although rendered or made under a prior contract.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08218-01-1

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