Assembly Actions -
Senate Actions - UPPERCASE
|Mar 03, 2020
reported and committed to finance
|Jan 21, 2020
referred to budget and revenue
Senate Bill S7354
2019-2020 Legislative Session
Archive: Last Bill Status - In Senate Committee Finance Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2019-S7354 (ACTIVE) - Details
2019-S7354 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7354 SPONSOR: KAPLAN TITLE OF BILL: An act to amend the tax law, in relation to providing a deduction against adjusted gross income for dues paid by small businesses to cham- bers of commerce PURPOSE: This legislation creates a credit in the amount paid as dues to a local chamber of commerce, when the dues are paid by a small business of fifty employees or less. SUMMARY OF PROVISIONS: Section 1 adds a new paragraph 43 to Subsection (c)of Section 612 of the tax law to allow a credit in the case when a taxpayer is a small busi- ness, an amount equal to what was paid as dues to the local chamber of commerce as defined under the non-profit corporation law section 1410.
2019-S7354 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7354 I N S E N A T E January 21, 2020 ___________ Introduced by Sen. KAPLAN -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to providing a deduction against adjusted gross income for dues paid by small businesses to chambers of commerce THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 43 to read as follows: (43) IN THE CASE OF A TAXPAYER WHO IS A SMALL BUSINESS, AN AMOUNT EQUAL TO THE AMOUNT PAID BY SUCH TAXPAYER AS DUES TO THE LOCAL CHAMBER OF COMMERCE WITHIN WHICH SUCH BUSINESS IS LOCATED, PROVIDED THAT SUCH CHAMBER OF COMMERCE IS INCORPORATED UNDER SECTION FOURTEEN HUNDRED TEN OF THE NOT-FOR-PROFIT CORPORATION LAW. THE AMOUNT DEDUCTIBLE PURSUANT TO THIS PARAGRAPH SHALL NOT INCLUDE ANY PORTION OF THE AMOUNT OF DUES PAID BY THE TAXPAYER THAT ARE USED OR INTENDED TO BE USED FOR THE PURPOSES OF LOBBYING. FOR PURPOSES OF THIS PARAGRAPH, THE TERM "SMALL BUSINESS" SHALL MEAN A BUSINESS WITH FIFTY EMPLOYEES OR LESS. § 2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2021. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14343-03-9
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