Senate Bill S2120A

2017-2018 Legislative Session

Relates to business income base and certain small business taxpayers

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

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Votes

Bill Amendments

co-Sponsors

2017-S2120 - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 612, Tax L; amd §11-1712, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2015-2016: S7235
2019-2020: S943
2021-2022: S5441
2023-2024: S4236

2017-S2120 - Summary

Relates to business income base and certain small business taxpayers.

2017-S2120 - Sponsor Memo

2017-S2120 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2120
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 12, 2017
                                ___________
 
 Introduced by Sens. O'MARA, FUNKE, GALLIVAN, LARKIN, YOUNG -- 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 and the administrative code of the city of
   New York, in relation to business income base and certain small  busi-
   ness taxpayers

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph (iv) of paragraph  (a)  of  subdivision  1  of
 section  210 of the tax law, as amended by section 12 of part A of chap-
 ter 59 of the laws of 2014, is amended to read as follows:
   (iv) (A) for taxable years beginning before January first,  two  thou-
 sand  sixteen,  if the business income base is not more than two hundred
 ninety thousand dollars the amount shall be six and one-half percent  of
 the  business  income base; if the business income base is more than two
 hundred ninety thousand dollars but not over three hundred ninety  thou-
 sand  dollars the amount shall be the sum of (1) eighteen thousand eight
 hundred fifty dollars, (2) seven and one-tenth percent of the excess  of
 the  business  income  base over two hundred ninety thousand dollars but
 not over three hundred ninety thousand dollars and (3) four and  thirty-
 five  hundredths  percent of the excess of the business income base over
 three hundred fifty thousand dollars but not over three  hundred  ninety
 thousand dollars;
   (B)  FOR  TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOU-
 SAND EIGHTEEN, IF THE BUSINESS INCOME BASE IS NOT MORE THAN FOUR HUNDRED
 THOUSAND DOLLARS THE AMOUNT SHALL BE FOUR PERCENT OF THE BUSINESS INCOME
 BASE; IF THE BUSINESS INCOME BASE IS MORE  THAN  FOUR  HUNDRED  THOUSAND
 DOLLARS  BUT  NOT OVER FIVE HUNDRED THOUSAND DOLLARS THE AMOUNT SHALL BE
 THE SUM OF (1) SIXTEEN THOUSAND DOLLARS, (2) SIX AND ONE-HALF PERCENT OF
 THE EXCESS OF THE  BUSINESS  INCOME  BASE  OVER  FOUR  HUNDRED  THOUSAND
 DOLLARS  BUT  NOT  OVER  FIVE  HUNDRED  THOUSAND  DOLLARS AND (3) TWENTY
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2017-S2120A (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 612, Tax L; amd §11-1712, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2015-2016: S7235
2019-2020: S943
2021-2022: S5441
2023-2024: S4236

2017-S2120A (ACTIVE) - Summary

Relates to business income base and certain small business taxpayers.

2017-S2120A (ACTIVE) - Sponsor Memo

2017-S2120A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2120--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 12, 2017
                                ___________
 
 Introduced  by  Sens.  O'MARA,  BONACIC, BOYLE, FUNKE, GALLIVAN, LARKIN,
   MARCHIONE, ORTT, YOUNG -- read twice and  ordered  printed,  and  when
   printed to be committed to the Committee on Investigations and Govern-
   ment  Operations -- 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 and the administrative code of the  city  of
   New  York, in relation to business income base and certain small busi-
   ness taxpayers
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraph  (iv)  of  paragraph (a) of subdivision 1 of
 section 210 of the tax law, as amended by section 12 of part A of  chap-
 ter 59 of the laws of 2014, is amended to read as follows:
   (iv)  (A)  for taxable years beginning before January first, two thou-
 sand sixteen, if the business income base is not more than  two  hundred
 ninety  thousand dollars the amount shall be six and one-half percent of
 the business income base; if the business income base is more  than  two
 hundred  ninety thousand dollars but not over three hundred ninety thou-
 sand dollars the amount shall be the sum of (1) eighteen thousand  eight
 hundred  fifty dollars, (2) seven and one-tenth percent of the excess of
 the business income base over two hundred ninety  thousand  dollars  but
 not  over three hundred ninety thousand dollars and (3) four and thirty-
 five hundredths percent of the excess of the business income  base  over
 three  hundred  fifty thousand dollars but not over three hundred ninety
 thousand dollars;
   (B) FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST,  TWO  THOU-
 SAND NINETEEN, IF THE BUSINESS INCOME BASE IS NOT MORE THAN FOUR HUNDRED
 THOUSAND DOLLARS THE AMOUNT SHALL BE FOUR PERCENT OF THE BUSINESS INCOME
 BASE;  IF  THE  BUSINESS  INCOME BASE IS MORE THAN FOUR HUNDRED THOUSAND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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