| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Feb 05, 2016 |
print number 5487b |
| Feb 05, 2016 |
amend and recommit to investigations and government operations |
| Jan 06, 2016 |
referred to investigations and government operations |
| Jun 08, 2015 |
print number 5487a |
| Jun 08, 2015 |
amend and recommit to investigations and government operations |
| May 14, 2015 |
referred to investigations and government operations |
Senate Bill S5487B
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
Bill Amendments
co-Sponsors
(D, IP) Senate District
2015-S5487 - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2015-S5487 - Sponsor Memo
BILL NUMBER:S5487
TITLE OF BILL:
An act to amend the tax law, in relation to establishing a shipping
cost tax credit
PURPOSE:
This bill would establish a shipping cost tax credit.
SUMMARY OF PROVISIONS:
Section 1- Amends Section 606 of the tax law by adding a new
subsection (ccc).
Section 2 - Effective date
JUSTIFICATION:
Several businesses which are a part of the Empire Zone Program ship a
significant percentage of the products they produce out of state. The
benefits they realized under the Empire Zone Program offset their
shipping costs which made it physically beneficial for them to remain
in New York State. However, now that the Empire Zone Program will soon
end there is no real cost incentive to those businesses to remain
2015-S5487 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5487
2015-2016 Regular Sessions
I N S E N A T E
May 14, 2015
___________
Introduced by Sen. DeFRANCISCO -- 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 establishing a shipping cost
tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 606 of the tax law is amended by adding a new
subsection (ccc) to read as follows:
(CCC) SHIPPING COST TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER
THAT IS AN OWNER OF AN ELIGIBLE MANUFACTURER, AND IS SUBJECT TO TAX
UNDER THIS ARTICLE, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX, PURSUANT
TO THE PROVISIONS OF THIS SUBSECTION, TO BE COMPUTED AS HEREINAFTER
PROVIDED.
(2) AMOUNT OF CREDIT. THE AMOUNT OF THE CREDIT FOR AN ELIGIBLE
MANUFACTURER SHALL BE THE PRODUCT OF: (A) THE RECEIPTS FACTOR; AND (B)
THE SHIPPING COST FACTOR.
(3) RECEIPTS FACTOR. THE RECEIPTS FACTOR IS SET FORTH IN THE FOLLOWING
TABLE:
GROSS RECEIPTS OR SALES: RECEIPTS FACTOR:
OVER $100,000,000 1.0
MORE THAN $75,000,000 BUT NOT 0.75
OVER 100,000,000
MORE THAN $50,000,000 BUT NOT 0.5
OVER 75,000,000
LESS THAN $50,000,000 0.25
(4) GROSS RECEIPTS OR SALE. FOR PURPOSES OF THIS SECTION, GROSS
RECEIPTS OR SALES ARE AS REPORTED ON THE ELIGIBLE MANUFACTURER'S FEDERAL
INCOME TAX RETURN. FOR A SHORT TAX PERIOD, THE GROSS RECEIPTS OR SALES
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11160-01-5
co-Sponsors
(D, IP) Senate District
2015-S5487A - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2015-S5487A - Sponsor Memo
BILL NUMBER:S5487A
TITLE OF BILL: An act to amend the tax law, in relation to
establishing a shipping cost tax credit
PURPOSE:
This bill would establish a shipping cost tax credit.
SUMMARY OF PROVISIONS:
Section 1- Amends Section 606 of the tax law by adding a new
subsection (ccc).
Section 2 - Effective date
JUSTIFICATION:
Many businesses which are located within the Empire Zone Program ship
a significant percentage of the products they produce out of state.
The benefits they realize under the Empire Zone Program offset those
shipping costs which make it beneficial for them to remain located in
New York State. However, now that the Empire Zone Program will soon
end they will lose this incentive. That, coupled with the fact that
other states continue to adopt tax benefit programs to lure those
businesses out of New York, creates an incentive for these businesses
2015-S5487A - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5487--A
2015-2016 Regular Sessions
I N S E N A T E
May 14, 2015
___________
Introduced by Sens. DeFRANCISCO, VALESKY -- read twice and ordered
printed, and when printed to be committed to the Committee on Investi-
gations and Government Operations -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee
AN ACT to amend the tax law, in relation to establishing a shipping cost
tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 606 of the tax law is amended by adding a new
subsection (ccc) to read as follows:
(CCC) SHIPPING COST TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER
THAT IS AN OWNER OF AN ELIGIBLE MANUFACTURER, AND IS SUBJECT TO TAX
UNDER THIS ARTICLE, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX, PURSUANT
TO THE PROVISIONS OF THIS SUBSECTION, TO BE COMPUTED AS HEREINAFTER
PROVIDED.
(2) GROSS RECEIPTS OR SALE. FOR PURPOSES OF THIS SECTION, GROSS
RECEIPTS OR SALES ARE AS REPORTED ON THE ELIGIBLE MANUFACTURER'S FEDERAL
INCOME TAX RETURN. FOR A SHORT TAX PERIOD, THE GROSS RECEIPTS OR SALES
IS EQUAL TO THE PRODUCT OF (A) THE TOTAL GROSS RECEIPTS OR SALES FOR THE
SHORT TAX PERIOD DIVIDED BY THE NUMBER OF MONTHS IN THE SHORT TAX PERI-
OD, AND (B) TWELVE.
(3) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL EQUAL THE SUM OF ALL
ELIGIBLE SHIPPING COSTS INCURRED WITHIN THE TAX YEAR FOR THE SHIPMENT OF
PRODUCT MANUFACTURED IN NEW YORK STATE BY AN ELIGIBLE MANUFACTURER TO
LOCATIONS OUTSIDE OF NEW YORK STATE, BUT WITHIN THE CONTINENTAL UNITED
STATES.
(4) ELIGIBLE SHIPPING COSTS. THE TERM "ELIGIBLE SHIPPING COSTS" MEANS
ALL COSTS OF SHIPPING PRODUCT MANUFACTURED BY A BUSINESS IN NEW YORK
STATE AND SHIPPED TO A LOCATION OUTSIDE OF NEW YORK STATE, BUT WITHIN
THE CONTINENTAL UNITED STATES, FOR SALE TO AN ENTITY FOR THE PURPOSE OF
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11160-02-5
co-Sponsors
(D, IP) Senate District
2015-S5487B (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2015-S5487B (ACTIVE) - Sponsor Memo
BILL NUMBER: S5487B
TITLE OF BILL :
An act to amend the tax law, in relation to establishing a shipping
cost tax credit
PURPOSE :
This bill would establish a shipping cost tax credit.
SUMMARY OF PROVISIONS :
Section 1 - Amends Section 606 of the tax law by adding a new
subsection (ccc).
Section 2 - Effective date
JUSTIFICATION :
Many businesses which are located within the Empire Zone Program ship
a significant percentage of the products they produce out of state.
The benefits they realize under the Empire Zone Program offset those
shipping costs which make it beneficial for them to remain located in
New York State. However, now that the Empire Zone Program ended they
will lose this incentive. That, coupled with the fact that other
2015-S5487B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5487--B
2015-2016 Regular Sessions
I N S E N A T E
May 14, 2015
___________
Introduced by Sens. DeFRANCISCO, VALESKY -- read twice and ordered
printed, and when printed to be committed to the Committee on Investi-
gations and Government Operations -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee -- recommitted to the Committee on Investigations and Government
Operations in accordance with Senate Rule 6, sec. 8 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the tax law, in relation to establishing a shipping cost
tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 606 of the tax law is amended by adding a new
subsection (ccc) to read as follows:
(CCC) SHIPPING COST TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER
THAT IS AN OWNER OF AN ELIGIBLE MANUFACTURER, AND IS SUBJECT TO TAX
UNDER THIS ARTICLE, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX, PURSUANT
TO THE PROVISIONS OF THIS SUBSECTION, TO BE COMPUTED AS HEREINAFTER
PROVIDED.
(2) GROSS RECEIPTS OR SALE. FOR PURPOSES OF THIS SECTION, GROSS
RECEIPTS OR SALES ARE AS REPORTED ON THE ELIGIBLE MANUFACTURER'S FEDERAL
INCOME TAX RETURN. FOR A SHORT TAX PERIOD, THE GROSS RECEIPTS OR SALES
IS EQUAL TO THE PRODUCT OF (A) THE TOTAL GROSS RECEIPTS OR SALES FOR THE
SHORT TAX PERIOD DIVIDED BY THE NUMBER OF MONTHS IN THE SHORT TAX PERI-
OD, AND (B) TWELVE.
(3) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL EQUAL THE SUM OF ALL
ELIGIBLE SHIPPING COSTS INCURRED WITHIN THE TAX YEAR FOR THE SHIPMENT OF
PRODUCT MANUFACTURED IN NEW YORK STATE BY AN ELIGIBLE MANUFACTURER TO
LOCATIONS OUTSIDE OF NEW YORK STATE, BUT WITHIN THE CONTINENTAL UNITED
STATES.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11160-04-6
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.