Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 14, 2016 |
held for consideration in ways and means |
Jan 06, 2016 |
referred to ways and means |
Jan 30, 2015 |
referred to ways and means |
Assembly Bill A4341
2015-2016 Legislative Session
Sponsored By
SCHIMMINGER
Archive: Last Bill Status - In Assembly 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
Actions
co-Sponsors
William Magnarelli
William Magee
Anthony Brindisi
Donna Lupardo
multi-Sponsors
William A. Barclay
Jane Corwin
Joseph Giglio
Andrew Goodell
2015-A4341 (ACTIVE) - Details
2015-A4341 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4341 2015-2016 Regular Sessions I N A S S E M B L Y January 30, 2015 ___________ Introduced by M. of A. SCHIMMINGER, MAGNARELLI, MAGEE, BRINDISI, LUPAR- DO, TENNEY, ZEBROWSKI -- Multi-Sponsored by -- M. of A. BARCLAY, CORWIN, GIGLIO, GOODELL, HOOPER, KOLB, LAVINE, OAKS, PALMESANO, PEOPLES-STOKES -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to phasing out the franchise tax on business corporations that are manufacturers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 208 of the tax law is amended by adding two new subdivisions 13 and 14 to read as follows: 13. THE TERM "MANUFACTURER" SHALL MEAN A TAXPAYER WHICH DURING THE TAXABLE YEAR IS PRINCIPALLY ENGAGED IN THE PRODUCTION OF GOODS BY MANU- FACTURING, PROCESSING, ASSEMBLING, REFINING, MINING, EXTRACTING, FARM- ING, AGRICULTURE, HORTICULTURE, FLORICULTURE, VITICULTURE OR COMMERCIAL FISHING. MOREOVER, FOR PURPOSES OF COMPUTING THE CAPITAL BASE IN A COMBINED REPORT, THE GROUP SHALL BE CONSIDERED A "MANUFACTURER" FOR PURPOSES OF THIS ARTICLE ONLY IF THE COMBINED GROUP DURING THE TAXABLE YEAR IS PRINCIPALLY ENGAGED IN THE ACTIVITIES SET FORTH IN THIS SUBDI- VISION, OR ANY COMBINATION THEREOF. 14. THE TERM "PRINCIPALLY ENGAGED" SHALL INCLUDE A TAXPAYER OR A COMBINED GROUP IF, DURING THE TAXABLE YEAR, MORE THAN FIFTY PERCENT OF THE GROSS RECEIPTS OF THE TAXPAYER OR COMBINED GROUP, RESPECTIVELY, ARE DERIVED FROM RECEIPTS FROM THE SALE OF GOODS PRODUCED BY MANUFACTURING. IN COMPUTING A COMBINED GROUP'S GROSS RECEIPTS, INTERCORPORATE RECEIPTS SHALL BE ELIMINATED. S 2. Section 209 of the tax law is amended by adding a new subdivision 13 to read as follows: 13. (A) FOR ANY TAXABLE YEAR BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND SIXTEEN, A TAXPAYER WHO IS A MANUFACTURER SHALL BE EXEMPT FROM FIFTY PERCENT OF ALL TAXES IMPOSED BY THIS ARTICLE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08102-01-5
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