Do you support this bill?

Senate Bill S3721

2021-2022 Legislative Session

Relates to a tax deduction for small business employers for certain wages and compensation paid to employees earning minimum wage

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

2021-S3721 (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §612, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: S8957
2023-2024: S1526
2025-2026: S3033

2021-S3721 (ACTIVE) - Summary

Provides a tax deduction for small business employers of 25% of the wages, salary or compensation paid to up to ten employees who earn up to 110% of the minimum wage.

2021-S3721 (ACTIVE) - Sponsor Memo

2021-S3721 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3721
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 30, 2021
                                ___________
 
 Introduced  by  Sen.  ORTT  --  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 a deduction for small  busi-
   ness employers for certain wages and compensation paid to employees
 
   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 AS DEFINED
 PURSUANT TO SECTION ONE HUNDRED THIRTY-ONE OF THE  ECONOMIC  DEVELOPMENT
 LAW,  AN  AMOUNT  EQUAL  TO  TWENTY-FIVE PERCENT OF THE WAGES, SALARY OR
 COMPENSATION PAID TO UP TO TEN EMPLOYEES WHO EARN UP TO ONE HUNDRED  TEN
 PERCENT OF THE MINIMUM WAGE AS ESTABLISHED IN THE LABOR LAW OR ANY MINI-
 MUM  WAGE  ESTABLISHED  BY  A WAGE BOARD PURSUANT TO SECTION SIX HUNDRED
 FIFTY-FIVE OF THE LABOR LAW FOR THAT TAXABLE YEAR.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2022.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08028-01-1

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.