assembly Bill A946

2021-2022 Legislative Session

Relates to a tax on gross income upon every corporation which derives income from the data individuals of this state share with such corporations

download bill text pdf

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Current 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

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2021 referred to ways and means

A946 (ACTIVE) - Details

See Senate Version of this Bill:
S3790
Law Section:
Tax Law
Laws Affected:
Amd §209, Tax L; add §99-ii, St Fin L
Versions Introduced in 2019-2020 Legislative Session:
A9112, S6102

A946 (ACTIVE) - Summary

Requires a five percent tax on gross income upon every corporation which derives income from the data individuals of this state share with such corporations; establishes the New York data fund to distribute the earnings of the five percent to each taxpayer of the state.

A946 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    946
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to a tax on gross  income  upon
   every  corporation  which  derives income from the data individuals of
   this state share with  such  corporations;  and  to  amend  the  state
   finance law, in relation to establishing the New York data fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 209 of the tax law  is  amended  by  adding  a  new
 subdivision 13 to read as follows:
   13.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF THIS CHAPTER, OR OF ANY
 OTHER LAW, A TAX EQUAL TO FIVE PERCENT TAX ON THE GROSS INCOME IS HEREBY
 IMPOSED UPON EVERY CORPORATION WHICH DERIVES INCOME FROM THE DATA  INDI-
 VIDUALS OF THIS STATE SHARE WITH SUCH CORPORATIONS.
   § 2. The state finance law is amended by adding a new section 99-ii to
 read as follows:
   §  99-II.  DATA  FUND.  1. A SPECIAL FUND TO BE KNOWN AS THE "NEW YORK
 DATA FUND" IS HEREBY ESTABLISHED IN THE CUSTODY OF THE STATE COMPTROLLER
 AND THE COMMISSIONER OF TAXATION AND FINANCE.
   2. THE FUND SHALL CONSIST OF  ALL  MONIES  TRANSFERRED  TO  SUCH  FUND
 PURSUANT  TO LAW, ALL MONIES REQUIRED BY ANY PROVISION OF LAW TO BE PAID
 INTO OR CREDITED TO THE FUND, ALL MONEYS DERIVED BY SUBDIVISION THIRTEEN
 OF SECTION TWO HUNDRED NINE OF THE TAX LAW  AND  ANY  INTEREST  EARNINGS
 WHICH  MAY  ACCRUE  FROM THE INVESTMENT OF MONIES IN THE FUND. SUCH FUND
 SHALL BE DIVIDED INTO AN EARNINGS RESERVE ACCOUNT AND A  DIVIDEND  FUND.
 NOTHING CONTAINED IN THIS SECTION SHALL PREVENT THE STATE FROM RECEIVING
 GRANTS,  GIFTS  OR  BEQUESTS  FOR THE PURPOSES OF THE FUND AS DEFINED IN
 THIS SECTION AND DEPOSITING THEM INTO THE FUND ACCORDING TO LAW.
   3. FOR THE PURPOSES OF THIS SECTION:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.