| Assembly Actions - Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| Apr 07, 2016 | print number 6732a |
| Apr 07, 2016 | amend and recommit to ways and means |
| Jan 06, 2016 | referred to ways and means |
| Apr 01, 2015 | referred to ways and means |
Archive: Last Bill Status - In Assembly Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Bill Amendments
A6732 - Details
A6732 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
6732
2015-2016 Regular Sessions
I N A S S E M B L Y
April 1, 2015
___________
Introduced by M. of A. CRESPO -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to providing an additional
franchise tax on certain life insurance policies
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The tax law is amended by adding a new section 182-b to
read as follows:
S 182-B. ADDITIONAL FRANCHISE TAX ON CERTAIN LIFE INSURANCE POLICIES.
1. NOTWITHSTANDING ANY OTHER PROVISION OF THIS CHAPTER, OR OF ANY OTHER
LAW, FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND
EIGHTEEN, AN ANNUAL TAX IS HEREBY IMPOSED UPON EVERY COMPANY RECEIVING
BENEFITS FROM LIFE INSURANCE POLICIES IT HAS OBTAINED ON ITS EMPLOYEES
AND/OR RETIREES EQUAL TO FIFTY PER CENTUM OF ITS GROSS RECEIPTS FROM ALL
PROCEEDS FROM SUCH LIFE INSURANCE POLICIES, FOR THE PRIVILEGE OF EXER-
CISING ITS CORPORATE FRANCHISE, OR OF DOING BUSINESS, OR OF EMPLOYING
CAPITAL, OR OF OWNING OR LEASING PROPERTY IN THIS STATE IN A CORPORATE
OR ORGANIZED CAPACITY, OR OF MAINTAINING AN OFFICE IN THIS STATE, FOR
ALL OR ANY PART OF EACH OF ITS TAXABLE YEARS.
2. EVERY COMPANY SUBJECT TO TAX UNDER THIS SECTION SHALL KEEP SUCH
RECORDS OF ITS BUSINESS IN SUCH FORM AS THE COMMISSIONER MAY REQUIRE,
AND SUCH RECORDS SHALL BE PRESERVED FOR A PERIOD OF THREE YEARS, EXCEPT
THAT THE COMMISSIONER MAY CONSENT TO THEIR DESTRUCTION WITHIN THAT PERI-
OD OR MAY REQUIRE THAT THEY BE KEPT LONGER.
S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2018.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00710-01-5
A6732A (ACTIVE) - Details
A6732A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
6732--A
2015-2016 Regular Sessions
I N A S S E M B L Y
April 1, 2015
___________
Introduced by M. of A. CRESPO -- read once and referred to the Committee
on Ways and Means -- recommitted to the Committee on Ways and Means in
accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee
AN ACT to amend the tax law, in relation to providing an additional
franchise tax on certain life insurance policies
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The tax law is amended by adding a new section 182-b to
read as follows:
S 182-B. ADDITIONAL FRANCHISE TAX ON CERTAIN LIFE INSURANCE POLICIES.
1. NOTWITHSTANDING ANY OTHER PROVISION OF THIS CHAPTER, OR OF ANY OTHER
LAW, FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND
NINETEEN, AN ANNUAL TAX IS HEREBY IMPOSED UPON EVERY COMPANY RECEIVING
BENEFITS FROM LIFE INSURANCE POLICIES IT HAS OBTAINED ON ITS EMPLOYEES
AND/OR RETIREES EQUAL TO FIFTY PER CENTUM OF ITS GROSS RECEIPTS FROM ALL
PROCEEDS FROM SUCH LIFE INSURANCE POLICIES, FOR THE PRIVILEGE OF EXER-
CISING ITS CORPORATE FRANCHISE, OR OF DOING BUSINESS, OR OF EMPLOYING
CAPITAL, OR OF OWNING OR LEASING PROPERTY IN THIS STATE IN A CORPORATE
OR ORGANIZED CAPACITY, OR OF MAINTAINING AN OFFICE IN THIS STATE, FOR
ALL OR ANY PART OF EACH OF ITS TAXABLE YEARS.
2. EVERY COMPANY SUBJECT TO TAX UNDER THIS SECTION SHALL KEEP SUCH
RECORDS OF ITS BUSINESS IN SUCH FORM AS THE COMMISSIONER MAY REQUIRE,
AND SUCH RECORDS SHALL BE PRESERVED FOR A PERIOD OF THREE YEARS, EXCEPT
THAT THE COMMISSIONER MAY CONSENT TO THEIR DESTRUCTION WITHIN THAT PERI-
OD OR MAY REQUIRE THAT THEY BE KEPT LONGER.
S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2019.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00710-03-6