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Senate Bill S4860

2017-2018 Legislative Session

Provides that issuers of debit and credit cards shall pay sales and use taxes directly to the commissioner of taxation and finance

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Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

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2017-S4860 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §1168, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S2550
2011-2012: S347
2013-2014: S785
2015-2016: S472

2017-S4860 (ACTIVE) - Summary

Provides that issuers of debit and credit cards shall pay sales and use taxes directly to the state tax commission.

2017-S4860 (ACTIVE) - Sponsor Memo

2017-S4860 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4860
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               March 3, 2017
                                ___________
 
 Introduced  by  Sens.  DIAZ, SQUADRON -- 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 requiring issuers of credit
   cards and debit cards to pay and collect sales and use taxes  and  pay
   such taxes to the commissioner of taxation and finance
 
   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 1168 to read
 as follows:
   § 1168. COLLECTION AND PAYMENT OF TAXES BY PROCESSORS OF CREDIT  CARDS
 AND  DEBIT CARDS. (A) NOTWITHSTANDING ANY LAW, RULE OR REGULATION TO THE
 CONTRARY, AN ISSUER OF CREDIT  CARDS  OR  DEBIT  CARDS,  AS  DEFINED  IN
 SECTION  FIVE  HUNDRED ELEVEN OF THE GENERAL BUSINESS LAW, SHALL COLLECT
 AND PAY TAXES IMPOSED BY ARTICLES TWENTY-EIGHT AND TWENTY-NINE  OF  THIS
 CHAPTER,  AND  SHALL  BE SUBJECT TO ALL PROVISIONS OF SUCH ARTICLES AS A
 PERSON REQUIRED TO COLLECT TAX, AS DEFINED IN SUBDIVISION ONE OF SECTION
 ELEVEN HUNDRED THIRTY-ONE OF THIS CHAPTER ON ALL TRANSACTIONS  CONDUCTED
 WITH  A  CREDIT OR DEBIT CARD OF THE ISSUER, PROVIDED, HOWEVER, NOTWITH-
 STANDING ANY LAW, RULE OR REGULATION TO THE CONTRARY, SUCH  TAXES  SHALL
 BE PAID DIRECTLY TO THE COMMISSIONER BY THE ISSUER.
   (B)  NOTWITHSTANDING  ANY  LAW, RULE OR REGULATION TO THE CONTRARY, ON
 ANY TRANSACTION CONDUCTED WITH A DEBIT OR CREDIT  CARD  OF  THE  ISSUER,
 WHEREIN  THE  ISSUER  IS  REQUIRED  TO COLLECT AND PAY TAXES PURSUANT TO
 SUBDIVISION (A) OF THIS SECTION, THE VENDOR OF TANGIBLE PERSONAL PROPER-
 TY OR SERVICES INVOLVED IN SAID TRANSACTION SHALL NOT BE REQUIRED TO PAY
 AND COLLECT TAXES PURSUANT TO ARTICLES TWENTY-EIGHT AND  TWENTY-NINE  OF
 THIS CHAPTER, RATHER THIS DUTY SHALL BE IMPOSED UPON PROCESSORS.
   (C)  FOR  PURPOSES  OF  THIS  SECTION, PROCESSOR SHALL MEAN ANY ENTITY
 WHICH CONTRACTS WITH VENDORS TO PROCESS THEIR CREDIT CARD  RECEIPTS  AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07302-01-7

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