assembly Bill A6309A

2019-2020 Legislative Session

Relates to the business income rate and expanding the small business subtraction modification

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 26, 2020 print number 6309a
Feb 26, 2020 amend and recommit to ways and means
Jan 08, 2020 referred to ways and means
Mar 05, 2019 referred to ways and means

Co-Sponsors

view additional co-sponsors

A6309 - Details

See Senate Version of this Bill:
S5954
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 612, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A5064, S29

A6309 - Summary

Relates to the business income rate and expanding the small business subtraction modification.

A6309 - Bill Text download pdf


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

                                  6309

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                              March 5, 2019
                               ___________

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

AN ACT to amend the tax law, in relation to  the  business  income  base
  rate and expanding the small business subtraction modification

  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 TWENTY, IF THE BUSINESS INCOME BASE IS NOT MORE  THAN  TWO  HUNDRED
NINETY THOUSAND DOLLARS THE AMOUNT SHALL BE FOUR 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 THOUSAND DOLLARS THE
AMOUNT SHALL BE THE SUM OF (1) ELEVEN THOUSAND SIX HUNDRED DOLLARS,  (2)
SIX  AND ONE-HALF 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) EIGHTEEN AND THIRTEEN HUNDREDTHS PERCENT OF THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08516-01-9

Co-Sponsors

view additional co-sponsors

A6309A (ACTIVE) - Details

See Senate Version of this Bill:
S5954
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 612, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A5064, S29

A6309A (ACTIVE) - Summary

Relates to the business income rate and expanding the small business subtraction modification.

A6309A (ACTIVE) - Bill Text download pdf


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

                                 6309--A

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                              March 5, 2019
                               ___________

Introduced  by  M.  of  A. SCHIMMINGER, STIRPE, WALLACE, D'URSO, THIELE,
  ORTIZ, MOSLEY,  WOERNER,  MALLIOTAKIS,  BRABENEC,  McDONOUGH,  HAWLEY,
  MONTESANO,  STERN, JONES, RA, PALUMBO, PHEFFER AMATO, CROUCH, LiPETRI,
  LUPARDO, TAGUE, SMITH, SAYEGH, B. MILLER, GRIFFIN, CUSICK -- read once
  and referred to the Committee on Ways and Means -- recommitted to  the
  Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2
  --  committee  discharged,  bill amended, ordered reprinted as amended
  and recommitted to said committee

AN ACT to amend the tax law, in relation to  the  business  income  base
  rate and expanding the small business subtraction modification

  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 TWENTY-ONE, IF THE BUSINESS  INCOME  BASE  IS  NOT  MORE  THAN  TWO
HUNDRED  NINETY THOUSAND DOLLARS THE AMOUNT SHALL BE FOUR PERCENT OF THE
BUSINESS INCOME BASE; IF THE BUSINESS  INCOME  BASE  IS  MORE  THAN  TWO

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