Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 15, 2010 |
print number 9439a |
Mar 15, 2010 |
amend and recommit to ways and means |
Jan 06, 2010 |
referred to ways and means |
Assembly Bill A9439
2009-2010 Legislative Session
Sponsored By
CRESPO
Archive: Last Bill Status - In Assembly 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
Actions
Bill Amendments
co-Sponsors
Michael Benjamin
2009-A9439 - Details
2009-A9439 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9439 I N A S S E M B L Y (PREFILED) January 6, 2010 ___________ Introduced by M. of A. CRESPO, BENJAMIN -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing an additional franchise tax on certain life insurance policies 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 182-b to read as follows: S 182-B. ADDITIONAL FRANCHISE TAX ON CERTAIN LIFE INSURANCE POLICIES. 1. NOTWITHSTANDING ANY OTHER PROVISION OF THIS CHAPTER, OR OF ANY OTHER LAW, FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TEN, AN ANNUAL TAX IS HEREBY IMPOSED UPON EVERY COMPANY RECEIVING BENE- FITS FROM LIFE INSURANCE POLICIES IT HAS OBTAINED ON ITS EMPLOYEES AND/OR RETIREES EQUAL TO FIFTY PER CENTUM OF ITS GROSS RECEIPTS FROM ALL PROCEEDS FROM SUCH LIFE INSURANCE POLICIES, FOR THE PRIVILEGE OF EXER- CISING ITS CORPORATE FRANCHISE, OR OF DOING BUSINESS, OR OF EMPLOYING CAPITAL, OR OF OWNING OR LEASING PROPERTY IN THIS STATE IN A CORPORATE OR ORGANIZED CAPACITY, OR OF MAINTAINING AN OFFICE IN THIS STATE, FOR ALL OR ANY PART OF EACH OF ITS TAXABLE YEARS. 2. EVERY COMPANY SUBJECT TO TAX UNDER THIS SECTION SHALL KEEP SUCH RECORDS OF ITS BUSINESS IN SUCH FORM AS THE COMMISSIONER MAY REQUIRE, AND SUCH RECORDS SHALL BE PRESERVED FOR A PERIOD OF THREE YEARS, EXCEPT THAT THE COMMISSIONER MAY CONSENT TO THEIR DESTRUCTION WITHIN THAT PERI- OD OR MAY REQUIRE THAT THEY BE KEPT LONGER. S 2. This act shall take effect immediately and shall apply to taxable years beginning or after January 1, 2010. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14905-01-9
co-Sponsors
Michael Benjamin
2009-A9439A (ACTIVE) - Details
2009-A9439A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9439--A I N A S S E M B L Y (PREFILED) January 6, 2010 ___________ Introduced by M. of A. CRESPO, BENJAMIN -- read once and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to providing an additional franchise tax on certain life insurance policies 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 182-b to read as follows: S 182-B. ADDITIONAL FRANCHISE TAX ON CERTAIN LIFE INSURANCE POLICIES. 1. NOTWITHSTANDING ANY OTHER PROVISION OF THIS CHAPTER, OR OF ANY OTHER LAW, FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND ELEVEN, AN ANNUAL TAX IS HEREBY IMPOSED UPON EVERY COMPANY RECEIVING BENEFITS FROM LIFE INSURANCE POLICIES IT HAS OBTAINED ON ITS EMPLOYEES AND/OR RETIREES EQUAL TO FIFTY PER CENTUM OF ITS GROSS RECEIPTS FROM ALL PROCEEDS FROM SUCH LIFE INSURANCE POLICIES, FOR THE PRIVILEGE OF EXER- CISING ITS CORPORATE FRANCHISE, OR OF DOING BUSINESS, OR OF EMPLOYING CAPITAL, OR OF OWNING OR LEASING PROPERTY IN THIS STATE IN A CORPORATE OR ORGANIZED CAPACITY, OR OF MAINTAINING AN OFFICE IN THIS STATE, FOR ALL OR ANY PART OF EACH OF ITS TAXABLE YEARS. 2. EVERY COMPANY SUBJECT TO TAX UNDER THIS SECTION SHALL KEEP SUCH RECORDS OF ITS BUSINESS IN SUCH FORM AS THE COMMISSIONER MAY REQUIRE, AND SUCH RECORDS SHALL BE PRESERVED FOR A PERIOD OF THREE YEARS, EXCEPT THAT THE COMMISSIONER MAY CONSENT TO THEIR DESTRUCTION WITHIN THAT PERI- OD OR MAY REQUIRE THAT THEY BE KEPT LONGER. S 2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2011. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14905-05-0
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