Senate Bill S2312

2015-2016 Legislative Session

Relates to reducing farm-based taxes

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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

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2015-S2312 (ACTIVE) - Details

See Assembly Version of this Bill:
A4415
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§658 & 210, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S6223, A8995
2017-2018: A4649
2019-2020: A5445
2021-2022: A5316

2015-S2312 (ACTIVE) - Summary

Relates to reducing farm-based taxes.

2015-S2312 (ACTIVE) - Sponsor Memo

2015-S2312 (ACTIVE) - Bill Text download pdf

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

                                  2312

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 22, 2015
                               ___________

Introduced  by  Sens.  RITCHIE, FUNKE, GALLIVAN, MARCHIONE, RANZENHOFER,
  SEWARD -- read twice and ordered  printed,  and  when  printed  to  be
  committed to the Committee on Investigations and Government Operations

AN ACT to amend the tax law, in relation to reducing farm-based taxes

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

  Section 1. Subparagraphs (A) and (B) of paragraph 3 of subsection  (c)
of section 658 of the tax law, subparagraph (A) as amended by section 18
of  part  U  of  chapter  61 of the laws of 2011 and subparagraph (B) as
amended by section 1 of part H-1 of chapter 57 of the laws of 2009,  are
amended to read as follows:
  (A)  Every  subchapter  K  limited  liability  company,  every limited
liability company that is a disregarded entity for  federal  income  tax
purposes,  and  every  partnership which has any income derived from New
York sources, determined in accordance  with  the  applicable  rules  of
section  six  hundred  thirty-one  of  this  article as in the case of a
nonresident individual, shall, within sixty days after the last  day  of
the  taxable  year,  make a payment of a filing fee. SUCH DEADLINE SHALL
NOT APPLY TO FARMS, COMMERCIAL HORSE BOARDING OPERATIONS OR AGRICULTURAL
SERVICE PROVIDERS SUBJECT TO THE FEE, WHICH SHALL,  WITHIN  ONE  HUNDRED
TWENTY  DAYS AFTER THE LAST DAY OF THE TAXABLE YEAR, MAKE PAYMENT OF ANY
REQUIRED FILING FEE. The amount of the filing  fee  is  the  amount  set
forth  in  subparagraph (B) of this paragraph. The minimum filing fee is
twenty-five dollars for taxable years beginning in  two  thousand  eight
and  thereafter.  Limited liability companies that are disregarded enti-
ties for federal income tax purposes must pay a filing  fee  of  twenty-
five  dollars for taxable years beginning on or after January first, two
thousand eight.
  (B) The filing fee will be based on the New York source  gross  income
of  the  limited  liability  company or partnership for the taxable year
immediately preceding the taxable year for which the fee is due. If  the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07663-01-5
              

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