senate Bill S3473A

2013-2014 Legislative Session

Relates to the imposition of the personal income tax upon foreign partnerships

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

do you support this bill?

Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 06, 2014 print number 3473a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
returned to senate
died in assembly
May 30, 2013 referred to ways and means
May 29, 2013 delivered to assembly
passed senate
May 06, 2013 advanced to third reading
May 01, 2013 2nd report cal.
Apr 30, 2013 1st report cal.525
Apr 16, 2013 reported and committed to finance
Feb 04, 2013 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

S3473 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §601, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S7542

S3473 - Summary

Relates to the imposition of the personal income tax upon foreign limited partnerships.

S3473 - Sponsor Memo

S3473 - Bill Text download pdf

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

                                  3473

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 4, 2013
                               ___________

Introduced  by  Sen.  O'MARA -- 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  the  imposition  of  the
  personal income tax upon foreign partnerships

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

  Section 1. Subsection (f) of section 601 of the tax law, as amended by
chapter 248 of the laws of 1997, is amended to read as follows:
  (f) Partners and partnerships. (1) A partnership as such shall not  be
subject to tax under this article. Persons carrying on business as part-
ners  shall  be liable for tax under this article only in their separate
or individual capacities. As used in this article,  the  term  "partner-
ship"  shall  include, unless a different meaning is clearly required, a
subchapter K limited liability company. The term "subchapter  K  limited
liability  company" shall mean a limited liability company classified as
a partnership for federal income tax purposes. The term "limited liabil-
ity company" means a domestic limited liability  company  or  a  foreign
limited  liability company, as defined in section one hundred two of the
limited liability company law, a limited  liability  investment  company
formed  pursuant  to section five hundred seven of the banking law, or a
limited liability trust company formed pursuant to section  one  hundred
two-a of the banking law.
  (2)  A  FOREIGN  PARTNERSHIP SHALL NOT BE DEEMED TO HAVE NEXUS IN THIS
STATE, AND THE NON-RESIDENT PARTNERS OF SUCH FOREIGN  PARTNERSHIP  SHALL
NOT  BE DEEMED TO HAVE NEW YORK-SOURCE INCOME, BY REASON OF SUCH FOREIGN
PARTNERSHIP USING FULFILLMENT SERVICES OF A PERSON OR ENTITY AND  OWNING
PROPERTY  STORED ON THE PREMISES OF SUCH PERSON OR ENTITY IN CONJUNCTION
WITH SUCH SERVICES. THE TERM "FULFILLMENT SERVICES" SHALL  MEAN  ANY  OF
THE  FOLLOWING SERVICES PERFORMED BY AN ENTITY ON ITS PREMISES ON BEHALF
OF A PURCHASER: (I) THE ACCEPTANCE OF ORDERS ELECTRONICALLY OR BY  MAIL,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08544-01-3

S3473A (ACTIVE) - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §601, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S7542

S3473A (ACTIVE) - Summary

Relates to the imposition of the personal income tax upon foreign limited partnerships.

S3473A (ACTIVE) - Sponsor Memo

S3473A (ACTIVE) - Bill Text download pdf

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

                                 3473--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 4, 2013
                               ___________

Introduced  by  Sen.  O'MARA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to  amend  the  tax  law,  in relation to the imposition of the
  personal income tax upon foreign partnerships

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

  Section 1. Subsection (f) of section 601 of the tax law, as amended by
chapter 248 of the laws of 1997, is amended to read as follows:
  (f)  Partners and partnerships. (1) A partnership as such shall not be
subject to tax under this article. Persons carrying on business as part-
ners shall be liable for tax under this article only in  their  separate
or  individual  capacities.  As used in this article, the term "partner-
ship" shall include, unless a different meaning is clearly  required,  a
subchapter  K  limited liability company. The term "subchapter K limited
liability company" shall mean a limited liability company classified  as
a partnership for federal income tax purposes. The term "limited liabil-
ity  company"  means  a  domestic limited liability company or a foreign
limited liability company, as defined in section one hundred two of  the
limited  liability  company  law, a limited liability investment company
formed pursuant to section five hundred seven of the banking law,  or  a
limited  liability  trust company formed pursuant to section one hundred
two-a of the banking law.
  (2) A FOREIGN PARTNERSHIP SHALL NOT BE DEEMED TO HAVE  NEXUS  IN  THIS
STATE,  AND  THE NON-RESIDENT PARTNERS OF SUCH FOREIGN PARTNERSHIP SHALL
NOT BE DEEMED TO HAVE NEW YORK-SOURCE INCOME, BY REASON OF SUCH  FOREIGN
PARTNERSHIP  USING FULFILLMENT SERVICES OF A PERSON OR ENTITY AND OWNING
PROPERTY STORED ON THE PREMISES OF SUCH PERSON OR ENTITY IN  CONJUNCTION

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08544-02-4

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.