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Senate Bill S4986

Signed By Governor

2015-2016 Legislative Session

Provides an exemption from sales and use taxes for certain personal property manufactured and sold by veterans

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Archive: Last Bill Status - Signed by Governor

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2015-S4986 (ACTIVE) - Details

See Assembly Version of this Bill:
A8480
Law Section:
Tax Law
Laws Affected:
Amd ยง1115, Tax L

2015-S4986 (ACTIVE) - Summary

Provides an exemption from sales and use taxes for certain personal property manufactured and sold by veterans.

2015-S4986 (ACTIVE) - Sponsor Memo

2015-S4986 (ACTIVE) - Bill Text download pdf 

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

                                  4986

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             April 27, 2015
                               ___________

Introduced  by  Sen. MARTINS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Veterans, Homeland Securi-
  ty and Military Affairs

AN ACT to amend the tax law, in relation to providing an exemption  from
  sales  and  use  taxes  for certain personal property manufactured and
  sold by veterans

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

  Section  1.  Subdivision (a) of section 1115 of the tax law is amended
by adding a new paragraph 18-a to read as follows:
  (18-A) TANGIBLE PERSONAL PROPERTY MANUFACTURED AND SOLD BY A  VETERAN,
AS DEFINED IN SECTION THREE HUNDRED SIXTY-FOUR OF THE EXECUTIVE LAW, FOR
THE  BENEFIT  OF  A  VETERAN'S  SERVICE ORGANIZATION, PROVIDED THAT SUCH
PERSON OR ANY MEMBER OF HIS OR HER HOUSEHOLD DOES NOT CONDUCT A TRADE OR
BUSINESS IN WHICH SIMILAR ITEMS ARE SOLD, THE FIRST  TWO  THOUSAND  FIVE
HUNDRED DOLLARS OF RECEIPTS FROM SUCH SALES IN A CALENDAR YEAR.
  S  2. This act shall take effect on the first day of a quarterly sales
tax period, as set forth in subdivision (b) of section 1136 of  the  tax
law, next succeeding the thirtieth day after it shall have become a law.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10701-01-5

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