senate Bill S971

2019-2020 Legislative Session

Requires when external indices are utilized to determine sales and use tax due, such indices to reflect local economic conditions

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance 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 (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 09, 2019 referred to finance

Co-Sponsors

S971 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §1138, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S4943
2013-2014: S2710
2015-2016: S3013
2017-2018: S561

S971 (ACTIVE) - Summary

Requires the commissioner of taxation and finance, when using external indices to determine sales and compensating use tax due because of failure to file a return or filing of an incorrect return, to use external indices which reflect local economic conditions.

S971 (ACTIVE) - Sponsor Memo

S971 (ACTIVE) - Bill Text download pdf


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

                                   971

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             January 9, 2019
                               ___________

Introduced  by Sens. YOUNG, RANZENHOFER -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Finance

AN ACT to amend the tax law, in relation to the determination  of  sales
  and compensating use taxes due

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision (a) of section 1138 of the tax law  is  amended
by adding a new paragraph 5 to read as follows:
  (5)  WHENEVER  A RETURN REQUIRED BY THIS ARTICLE IS NOT FILED, OR IF A
RETURN WHEN FILED IS INCORRECT OR INSUFFICIENT, AND THE  AMOUNT  OF  TAX
DUE  IS  DETERMINED  BY THE COMMISSIONER FROM SUCH INFORMATION AS MAY BE
AVAILABLE PURSUANT TO PARAGRAPH ONE OF THIS SUBDIVISION, ANY    EXTERNAL
INDICES  USED  TO  ESTIMATE THE TAX DUE SHALL REFLECT THE LOCAL ECONOMIC
CONDITIONS.
  § 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03735-01-9

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