senate Bill S5347

Signed By Governor
2013-2014 Legislative Session

Allows the tax department to disclose certain information to the commissioner of finance of the city of New York for purposes of administering laws relating to taxes and charges collected by NYC DOF

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Archive: Last Bill Status Via A7557 - Signed by Governor


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 31, 2013 signed chap.235
Jul 19, 2013 delivered to governor
Jun 18, 2013 returned to assembly
passed senate
home rule request
3rd reading cal.1452
substituted for s5347
Jun 18, 2013 substituted by a7557
ordered to third reading cal.1452
committee discharged and committed to rules
May 16, 2013 referred to investigations and government operations

Votes

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S5347 - Bill Details

See Assembly Version of this Bill:
A7557
Law Section:
Tax Law
Laws Affected:
Amd §1703, Tax L

S5347 - Bill Texts

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Allows the tax department to disclose certain information to the commissioner of finance of the city of New York for purposes of administering laws relating to taxes and charges collected by department of finance of the city of New York.

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BILL NUMBER:S5347

TITLE OF BILL: 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

SUMMARY OF PROVISIONS:

Section one of this bill amends paragraph (c) of subdivision 1 of
section 1703 of the Tax Law to permit he Department of Taxation and
Finance to disclose such information that concerns any person or
entity with a New York City address or that is required to pay New
York city taxes and/or charges or that is subject to any reporting
requirement pursuant to New York city tax laws, only to the
Commissioner of Finance of the City of New York, and only to be used
for administration of laws relating to taxes or charges collected by
the New York City Commissioner of Finance.

Section two of this bill provides that this act shall take effect
immediately.

JUSTIFICATION: Chapter 57 of the Laws of 2010 added section 1703 to
the Tax Law to require the annual filing of information returns with
the New York State Department of Taxation and Finance with regard to
credit and debit card payments to New York State payees, from banks
and other entities that make payments to participating payees in
settlement of payment card and third party network transactions. An
information return is required to be filed with the Department of
Taxation and Finance by any entity required to file such an
information return with the Internal Revenue Service under Internal
Revenue Code § 6050W. Tax Law section 1703 presently prohibits the
Department of Taxation and Finance from redisclosing any information
it receives on such an information return.

This proposal would allow for the sharing of this information between
the New York State Department of Taxation and Finance and the New York
City Department of Finance ("DOF"), in order to facilitate more
accurate and efficient administration of New York City tax laws by
DOF. Specifically, it will allow the State to share information
concerning persons or entities with a Net,V York City address or that
are required to pay New York City taxes and/or charges that are
subject to any reporting requirement pursuant to New York City tax
laws. This information will provide DOF with a much needed enforcement
tool that will allow the City to identify underreporting and nonfiling
by businesses who are potentially subject to New York City taxes who
are parties to payment card and third party network transactions. For
example, such information could assist the Department of Finance in
identifying underpayment of City business taxes by merchants who are
subject to the New York City general corporation tax.

This amendment would allow for the use of this information by the New
York City Commissioner of Finance only for the administration of laws
relating to taxes or charges collected by the Commissioner.

Accordingly, the Mayor urges the earliest possible favorable
consideration of this proposal by the Legislature.


LEGISLATIVE HISTORY: New Bill; was Part DDD of S.2609-C of 2013

FISCAL IMPLICATIONS: None

EFFECTIVE DATE: Immediately.

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

                                  5347

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              May 16, 2013
                               ___________

Introduced  by  Sen.  GOLDEN -- 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 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  WITH  A
NEW  YORK  CITY  ADDRESS  OR THAT IS A NEW YORK CITY TAXPAYER OR THAT IS
REQUIRED TO PAY NEW YORK CITY TAXES AND/OR CHARGES OR THAT IS SUBJECT TO
ANY REPORTING REQUIREMENT PURSUANT TO NEW YORK CITY TAX LAWS.
  S 2.  This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10824-01-3

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