Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to investigations and government operations |
Jun 02, 2011 |
reported and committed to finance |
Mar 22, 2011 |
referred to investigations and government operations |
Senate Bill S4172
2011-2012 Legislative Session
Sponsored By
(R, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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
Votes
co-Sponsors
(R, C, IP) Senate District
(R, C, IP) Senate District
(R, C, IP) Senate District
(R, IP) Senate District
2011-S4172 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A3416
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§208 & 209, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S4102, A2813
2013-2014: S3562, A3342
2015-2016: A4341
2017-2018: A2180
2019-2020: A5165
2011-S4172 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4172 TITLE OF BILL: An act to amend the tax law, in relation to phasing out the franchise tax on business corporations that are manufacturers PURPOSE OF THE BILL: This bill would phase out the corporate franchise tax over a two-year period on businesses which are manufacturers. SUMMARY OF SPECIFIC PROVISIONS: § 1- Amends § 208 of the Tax Law by adding two new subdivisions 20 and 21 to define the terms "manufacturer" and "principally engaged." § 2- Amends § 209 of the Tax Law by adding a new subdivision 11 to provide that (a) for any taxable year beginning on or after January 1, 2011, a manufacturer shall be exempt from 50% of the corporate franchise tax, and (b) for any taxable year beginning on or after January 1, 2012, a manufacturer shall be exempt from all of the corporate franchise tax.
2011-S4172 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4172 2011-2012 Regular Sessions I N S E N A T E March 22, 2011 ___________ Introduced by Sen. ALESI -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to phasing out the franchise tax on business corporations that are manufacturers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 208 of the tax law is amended by adding two new subdivisions 20 and 21 to read as follows: 20. THE TERM "MANUFACTURER" SHALL MEAN A TAXPAYER WHICH DURING THE TAXABLE YEAR IS PRINCIPALLY ENGAGED IN THE PRODUCTION OF GOODS BY MANU- FACTURING, PROCESSING, ASSEMBLING, REFINING, MINING, EXTRACTING, FARM- ING, AGRICULTURE, HORTICULTURE, FLORICULTURE, VITICULTURE OR COMMERCIAL FISHING. MOREOVER, FOR PURPOSES OF COMPUTING THE CAPITAL BASE IN A COMBINED REPORT, THE GROUP SHALL BE CONSIDERED A "MANUFACTURER" FOR PURPOSES OF THIS ARTICLE ONLY IF THE COMBINED GROUP DURING THE TAXABLE YEAR IS PRINCIPALLY ENGAGED IN THE ACTIVITIES SET FORTH IN THIS SUBDI- VISION, OR ANY COMBINATION THEREOF. 21. THE TERM "PRINCIPALLY ENGAGED" SHALL INCLUDE A TAXPAYER OR A COMBINED GROUP IF, DURING THE TAXABLE YEAR, MORE THAN FIFTY PERCENT OF THE GROSS RECEIPTS OF THE TAXPAYER OR COMBINED GROUP, RESPECTIVELY, ARE DERIVED FROM RECEIPTS FROM THE SALE OF GOODS PRODUCED BY MANUFACTURING. IN COMPUTING A COMBINED GROUP'S GROSS RECEIPTS, INTERCORPORATE RECEIPTS SHALL BE ELIMINATED. S 2. Section 209 of the tax law is amended by adding a new subdivision 11 to read as follows: 11. (A) FOR ANY TAXABLE YEAR BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWELVE, A TAXPAYER WHO IS A MANUFACTURER SHALL BE EXEMPT FROM FIFTY PERCENT OF ALL TAXES IMPOSED BY THIS ARTICLE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06163-01-1 S. 4172 2
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