Assembly Bill A7614

2015-2016 Legislative Session

Relates to conducting studies on personal income tax brackets and the corporate franchise tax

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2015-A7614 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Taxation
Versions Introduced in Other Legislative Sessions:
2017-2018: A6013
2019-2020: A5850
2021-2022: A7142
2023-2024: A4791

2015-A7614 (ACTIVE) - Summary

Relates to conducting studies on personal income tax brackets and the corporate franchise tax.

2015-A7614 (ACTIVE) - Bill Text download pdf 

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

                                  7614

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              May 20, 2015
                               ___________

Introduced  by  M. of A. OAKS -- read once and referred to the Committee
  on Ways and Means

AN ACT creating a tax simplification and fairness study to look  at  the
  personal income tax brackets and the corporate franchise tax

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

  Section 1. The commissioner of taxation and finance  shall  conduct  a
study  to  examine  the  corresponding  income  tax  brackets and dollar
amounts that could be  enacted  if  a  proportionate  reduction  in  the
personal  income  tax  bracket and dollar amounts as provided in section
601 of the tax law for taxable years beginning  after  2011  and  before
2018  and for taxable years beginning after 2017, if all of the personal
income tax credits provided in section 606 of the tax  law  were  elimi-
nated  and  personal  income  tax receipts were forecasted to be revenue
neutral based on current law.
  S 2. The commissioner of taxation and finance shall conduct a study to
examine the corresponding reduction in the imposition of  the  corporate
franchise  tax that could be enacted if a proportionate reduction in the
imposition of the corporate franchise tax as provided  by  sections  209
and  210 of the tax law, if all the credits provided in section 210-B of
the tax law were eliminated and the  corporate  franchise  tax  receipts
were forecasted to be revenue neutral based on current law.
  S  3.  The  commissioner  of  taxation and finance shall report on the
results of the studies in section one and section two within one hundred
eighty days after this act shall have become a law.
  S 4. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10159-02-5

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. 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.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.