Senate Bill S2556

2023-2024 Legislative Session

Relates to the imposition of sales and compensating use taxes with respect to certain aircraft; and repeals certain provisions of the tax law relating thereto

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Sponsored By

Current Bill Status - In Senate Committee Budget And Revenue Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S2556 (ACTIVE) - Details

See Assembly Version of this Bill:
A1523
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §1111, rpld §1115 sub (a) ¶21-a, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7135, A9053
2021-2022: S429, A918

2023-S2556 (ACTIVE) - Summary

Relates to the imposition of sales and compensating use taxes with respect to certain aircraft; repeals provisions relating to the exemption from sales and compensating use taxes of general aviation aircraft, and machinery or equipment to be installed on such aircraft.

2023-S2556 (ACTIVE) - Sponsor Memo

2023-S2556 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2556
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2023
                                ___________
 
 Introduced  by  Sens.  HOYLMAN-SIGAL, JACKSON, RAMOS, RIVERA, SANDERS --
   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 the imposition of sales and
   compensating use taxes with respect to certain aircraft; and to repeal
   paragraph 21-a of subdivision (a) of section  1115  of  the  tax  law,
   relating thereto
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (A) of subdivision (i) of section 1111 of the tax
 law, as added by section 1 of part TT of chapter 59 of the laws of 2015,
 is amended to read as follows:
   (A) Notwithstanding any contrary provisions of this article  or  other
 law,  with  respect to any lease for a term of one year or more of (1) a
 motor vehicle, as defined in section  one  hundred  twenty-five  of  the
 vehicle  and  traffic  law,  with a gross vehicle weight of ten thousand
 pounds or less, [or] (2) a vessel,  as  defined  in  section  twenty-two
 hundred  fifty  of such law (including any inboard or outboard motor and
 any trailer, as defined in section one hundred fifty-six  of  such  law,
 leased  in conjunction with such a vessel) OR (3) NONCOMMERCIAL AIRCRAFT
 HAVING A SEATING CAPACITY OF LESS THAN TWENTY PASSENGERS AND  A  MAXIMUM
 CAPACITY  OF LESS THAN SIX THOUSAND POUNDS, or an option to renew such a
 lease or a similar contractual provision, all receipts due or  consider-
 ation  given  or  contracted to be given for such property under and for
 the entire period of such lease, option to renew or  similar  provision,
 or  combination  of them, shall be deemed to have been paid or given and
 shall be subject to tax, and any such tax due shall be collected, as  of
 the  date  of first payment under such lease, option to renew or similar
 provision, or combination of them, or as of the date of registration  of
 such  property  with  the  commissioner  of motor vehicles, whichever is
 earlier. Notwithstanding any inconsistent provisions of subdivision  (b)
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04834-01-3
              

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