| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Apr 11, 2012 |
referred to investigations and government operations |
Senate Bill S6922
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
2011-S6922 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยงยง658 & 1304-C, Tax L
2011-S6922 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6922 REVISED 04/16/12
TITLE OF BILL:
An act
to amend the tax law, in relation to filing fees for partnerships
PURPOSE:
This bill would eliminate the filing fee imposed in 2009
which serves as a deterrent to job creation. Passage of the bill
would eliminate this onerous fee and would facilitate a more
favorable business climate within New York State.
SUMMARY OF PROVISIONS:
Section 1 - Amends Subparagraphs (A) and (B) of paragraph 3 of
subsection (c) of section 658 of the tax law, subparagraph (A) as
amended by section 18 of part U of Chapter 61 of the laws of 2011 and
subparagraph (b) as amended by Section 1 of part H-1 of Chapter 57 of
the laws of 2009. Amends the law to change the definition to limited
liability partnerships under article eight-B of the partnership law
and every foreign limited liability partnership.
Section 2 - Amends Subsection (a) of section 1304-C of the tax law, as
amended by section 2 of part H-1 of Chapter 57 of the laws of 2009.
Amends the law to change definition to limited liability partnerships
under article eight-B of the partnership law and every foreign
limited liability partnership.
2011-S6922 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
6922
I N S E N A T E
April 11, 2012
___________
Introduced by Sen. DeFRANCISCO -- read twice and ordered printed, and
when printed to be committed to the Committee on Investigations and
Government Operations
AN ACT to amend the tax law, in relation to filing fees for partnerships
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subparagraphs (A) and (B) of paragraph 3 of subsection (c)
of section 658 of the tax law, subparagraph (A) as amended by section 18
of part U of chapter 61 of the laws of 2011 and subparagraph (B) as
amended by section 1 of part H-1 of chapter 57 of the laws of 2009, are
amended to read as follows:
(A) Every subchapter K limited liability company, every limited
liability company that is a disregarded entity for federal income tax
purposes, and every LIMITED LIABILITY partnership UNDER ARTICLE EIGHT-B
OF THE PARTNERSHIP LAW AND EVERY FOREIGN LIMITED LIABILITY PARTNERSHIP
which has any income derived from New York sources, determined in
accordance with the applicable rules of section six hundred thirty-one
of this article as in the case of a nonresident individual, shall, with-
in sixty days after the last day of the taxable year, make a payment of
a filing fee. The amount of the filing fee is the amount set forth in
subparagraph (B) of this paragraph. The minimum filing fee is twenty-
five dollars for taxable years beginning in two thousand eight and ther-
eafter. Limited liability companies that are disregarded entities for
federal income tax purposes must pay a filing fee of twenty-five dollars
for taxable years beginning on or after January first, two thousand
eight.
(B) The filing fee will be based on the New York source gross income
of the limited liability company or LIMITED LIABILITY partnership for
the taxable year immediately preceding the taxable year for which the
fee is due. If the limited liability company or LIMITED LIABILITY part-
nership does not have any New York source gross income for the taxable
year immediately preceding the taxable year for which the fee is due,
the limited liability company or LIMITED LIABILITY partnership shall pay
the minimum filing fee. [Partnerships, other than limited liability
partnerships under article eight-B of the partnership law and foreign
limited liability partnerships, with less than one million dollars in
New York source gross income are exempt from the filing fee.] New York
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