Assembly Bill A3896A

2013-2014 Legislative Session

Provides for an additional franchise tax on certain life insurance policies

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

Bill Amendments

2013-A3896 - Details

See Senate Version of this Bill:
S388
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add §182-b, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9439, S6236
2011-2012: A1111, S262
2015-2016: A6732, S141
2017-2018: A6112, S4856
2019-2020: A6207

2013-A3896 - Summary

Provides for an additional franchise tax on life insurance policies obtained by companies on its employees and/or retirees.

2013-A3896 - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3896

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 29, 2013
                               ___________

Introduced by M. of A. CRESPO -- 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
SIXTEEN, 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, 2016.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00444-01-3

2013-A3896A (ACTIVE) - Details

See Senate Version of this Bill:
S388
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add §182-b, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9439, S6236
2011-2012: A1111, S262
2015-2016: A6732, S141
2017-2018: A6112, S4856
2019-2020: A6207

2013-A3896A (ACTIVE) - Summary

Provides for an additional franchise tax on life insurance policies obtained by companies on its employees and/or retirees.

2013-A3896A (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3896--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 29, 2013
                               ___________

Introduced by M. of A. CRESPO -- read once and referred to the Committee
  on Ways and Means -- recommitted to the Committee on Ways and Means in
  accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

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
SEVENTEEN, 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, 2017.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00444-03-4

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.