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Assembly Bill A3232

2023-2024 Legislative Session

Relates to imposing a tax on attorney's fees

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2023-A3232 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Add §48, Tax L

2023-A3232 (ACTIVE) - Summary

Relates to imposing a tax on attorney's fees; imposes a two percent tax on attorney's fees over $10,000 not associated with litigation; provides that revenue from such tax shall be deposited monthly into the general fund.

2023-A3232 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3232
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 2, 2023
                                ___________
 
 Introduced  by M. of A. EPSTEIN -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in relation to imposing a tax on attorney's
   fees
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  The tax law is amended by adding a new section 48 to read
 as follows:
   § 48. TAX IMPOSED ON ATTORNEY'S FEES. 1. THERE IS HEREBY IMPOSED A TWO
 PERCENT TAX ON ALL ATTORNEY'S FEES OVER TEN THOUSAND DOLLARS.  SUCH  TAX
 SHALL  NOT  INCLUDE  ANY ATTORNEY'S FEES ASSOCIATED WITH LITIGATION. THE
 COMMISSIONER, IN CONJUNCTION WITH THE CHIEF ADMINISTRATOR OF THE  OFFICE
 OF  COURT  ADMINISTRATION, SHALL PROMULGATE RULES AND REGULATIONS NECES-
 SARY FOR THE IMPLEMENTATION OF THIS SECTION.
   2. ALL TAXES, INTEREST AND PENALTIES  COLLECTED  OR  RECEIVED  BY  THE
 COMMISSIONER UNDER THIS SECTION SHALL BE DEPOSITED MONTHLY, TO THE CRED-
 IT  OF  THE GENERAL FUND OF THE STATE. THE COMMISSIONER SHALL MAINTAIN A
 SYSTEM OF ACCOUNTS SHOWING THE AMOUNT OF MONEY COLLECTED  AND  DISBURSED
 FROM THE TAX IMPOSED BY THIS SECTION.
   §  2.  This  act shall take effect on the ninetieth day after it shall
 have become a law. Effective immediately, the addition, amendment and/or
 repeal of any rule or regulation necessary  for  the  implementation  of
 this  act  on its effective date are authorized to be made and completed
 on or before such effective date.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01728-01-3

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