|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 05, 2020||referred to budget and revenue|
senate Bill S7974
Current Bill Status - In Senate Committee Budget And Revenue Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7974 (ACTIVE) - Details
- See Assembly Version of this Bill:
- Law Section:
- Tax Law
- Laws Affected:
- Amd §1101, Tax L
S7974 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7974 Revised 3/5/2020 SPONSOR: STAVISKY TITLE OF BILL: An act to amend the tax law, in relation to codifying existing guidance on the application of sales and use tax PURPOSE OR GENERAL IDEA OF BILL: To clarify that vendor funding is not subject to sales and use tax. SUMMARY OF PROVISIONS: Section 1 of the bill amends paragraph (3) of subsection (b) of section 1101 of the tax law. Section 2 provides that the act shall take effect immediately and apply to all tax periods for which the statute of limitations for seeking a refund or assessing additional tax are still open under the tax law or for which any claim could be made under the New York false claims act.
S7974 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7974 I N S E N A T E March 5, 2020 ___________ Introduced by Sen. STAVISKY -- 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 codifying existing guidance on the application of sales and use tax THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subdivision (b) of section 1101 of the tax law, as amended by section 21 of part Y of chapter 63 of the laws of 2000, is amended to read as follows: (3) Receipt. (I) The amount of the sale price of any property and the charge for any service taxable under this article, including gas and gas service and electricity and electric service of whatever nature, valued in money, whether received in money or otherwise, including any amount for which credit is allowed by the vendor to the purchaser, without any deduction for expenses or early payment discounts and also including any charges by the vendor to the purchaser for shipping or delivery, and, with respect to gas and gas service and electricity and electric service, any charges by the vendor for transportation, transmission or distribution, regardless of whether such charges are separately stated in the written contract, if any, or on the bill rendered to such purchaser and regardless of whether such shipping or delivery or trans- portation, transmission, or distribution is provided by such vendor or a third party, but excluding any credit for tangible personal property accepted in part payment and intended for resale. For special rules governing computation of receipts, see section eleven hundred eleven OF THIS ARTICLE. (II) RECEIPT SHALL INCLUDE CONSIDERATION RECEIVED BY THE VENDOR FROM THIRD PARTIES IF: (A) THE VENDOR RECEIVES CONSIDERATION FROM A PARTY OTHER THAN THE PURCHASER AND THE CONSIDERATION IS DIRECTLY RELATED TO A PRICE REDUCTION OR DISCOUNT ON THE SALE; (B) THE VENDOR HAS AN OBLIGATION TO PASS THROUGH TO THE PURCHASER THE PRICE REDUCTION OR DISCOUNT; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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