Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jun 29, 2009 |
referred to rules |
Senate Bill S65018
2009-2010 Legislative Session
Sponsored By
There are no sponsors of this bill.
Archive: Last Bill Status - In Senate Committee Rules 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
2009-S65018 (ACTIVE) - Details
- See other versions of this Bill:
- S5519 ,
- S50048 ,
- A8615 ,
- S60419 ,
- Current Committee:
- Senate Rules
- Law Section:
- New York City Administrative Code
- Laws Affected:
- Amd ยงยง11-503, 11-511 & 11-514, NYC Ad Cd
2009-S65018 (ACTIVE) - Summary
Specifies that commencing in 2009, the credit that is applied to reduce an unincorporated business tax will apply to the annual tax totals less than $5,400; the credit will completely offset an annual unincorporated business tax that does not exceed $3,400; simplifies UBT filing requirements and modifies requirements related to paying estimated unincorporated business taxes.
2009-S65018 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 18 Eighth Extraordinary Session I N S E N A T E June 29, 2009 ___________ Introduced by COMMITTEE ON RULES -- (at request of the Governor) -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the administrative code of the city of New York, in relation to the unincorporated business tax THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subdivision (b) of section 11-503 of the administrative code of the city of New York, as amended by chapter 481 of the laws of 1997, is amended to read as follows: (3) For each taxable year beginning after nineteen hundred ninety-six BUT BEFORE TWO THOUSAND NINE: (A) if the tax computed under subdivision (a) of this section is one thousand eight hundred dollars or less, a credit shall be allowed for the entire amount of such tax; (B) if the tax computed under subdivision (a) of this section exceeds one thousand eight hundred dollars but is less than three thousand two hundred dollars, a credit shall be allowed in the amount determined by multiplying such tax by a fraction the numerator of which is three thou- sand two hundred dollars minus the amount of such tax and the denomina- tor of which is one thousand four hundred dollars; or (C) if the tax computed under subdivision (a) of this section is three thousand two hundred dollars or more, no credit shall be allowed. S 2. Subdivision (b) of section 11-503 of the administrative code of the city of New York is amended by adding a new paragraph 3-a to read as follows: (3-A) FOR EACH TAXABLE YEAR BEGINNING AFTER TWO THOUSAND EIGHT: (A) IF THE TAX COMPUTED UNDER SUBDIVISION (A) OF THIS SECTION IS THREE THOUSAND FOUR HUNDRED DOLLARS OR LESS, A CREDIT SHALL BE ALLOWED FOR THE ENTIRE AMOUNT OF SUCH TAX; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11919-01-9
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