senate Bill S943

2019-2020 Legislative Session

Relates to business income base and certain small business taxpayers

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to investigations and government operations
Jan 09, 2019 referred to investigations and government operations

Co-Sponsors

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S943 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
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
2017-2018: S2120
2021-2022: S5441

S943 (ACTIVE) - Summary

Relates to business income base and certain small business taxpayers.

S943 (ACTIVE) - Sponsor Memo

S943 (ACTIVE) - Bill Text download pdf


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

                                   943

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             January 9, 2019
                               ___________

Introduced  by  Sens.  O'MARA,  BOYLE, GALLIVAN, 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 TWENTY-ONE, IF THE BUSINESS INCOME  BASE  IS  NOT  MORE  THAN  FOUR
HUNDRED  THOUSAND  DOLLARS THE AMOUNT SHALL BE FOUR PERCENT OF THE BUSI-
NESS 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)

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

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