Senate Bill S7196B

Vetoed By Governor
2013-2014 Legislative Session

Relates to taxpayers filing under article twenty-two of the tax law to include for the purposes of the tax factor all business income attributable to a QEZE business

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Archive: Last Bill Status - Vetoed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Vetoed By Governor
  • Signed By Governor

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Bill Amendments

2013-S7196 - Details

See Assembly Version of this Bill:
A9220
Law Section:
Tax Law
Laws Affected:
Amd §16, Tax L
Versions Introduced in 2015-2016 Legislative Session:
A5545

2013-S7196 - Summary

Relates to taxpayers filing under article twenty-two of the tax law to include for the purposes of the tax factor all business income attributable to a QEZE business.

2013-S7196 - Sponsor Memo

2013-S7196 - Bill Text download pdf 

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

                                  7196

                            I N  S E N A T E

                               May 5, 2014
                               ___________

Introduced  by  Sen.  RANZENHOFER -- 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 QEZE tax reduction credits

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 1 of subdivision (f) of section  16  of  the  tax
law,  as  amended  by section 14 of part CC of chapter 85 of the laws of
2002, is amended to read as follows:
  (1) General. The tax factor shall be, in the case of article nine-A of
this chapter, the larger of the amounts of tax determined for the  taxa-
ble  year under paragraphs (a) and (c) of subdivision one of section two
hundred ten of such article. The tax factor shall be,  in  the  case  of
article  twenty-two  of this chapter, the tax determined for the taxable
year under subsections (a) through (d) of section  six  hundred  one  of
such article. FOR THE PURPOSES OF CALCULATING THE TAX FACTOR UNDER ARTI-
CLE TWENTY-TWO OF THIS CHAPTER, INCOME ALLOCATED TO NEW YORK STATE SHALL
INCLUDE  ALL  BUSINESS  INCOME.  The tax factor shall be, in the case of
article thirty-two of this chapter, the larger of  the  amounts  of  tax
determined  for  the taxable year under subsection (a) and paragraph two
of subsection (b) of section fourteen hundred fifty-five of  such  arti-
cle.  The  tax  factor  shall be, in the case of article thirty-three of
this chapter, the larger of the amounts of tax determined for the  taxa-
ble  year  under  paragraphs one and three of subdivision (a) of section
fifteen hundred two of such article.
  S 2. Paragraph 1 of subdivision (f) of section 16 of the tax  law,  as
amended  by  section  34 of part A of chapter 59 of the laws of 2014, is
amended to read as follows:
  (1) General. The tax factor shall be, in the case of article nine-A of
this chapter, the amount of tax determined for the  taxable  year  under
paragraph  (a)  of  subdivision  one  of section two hundred ten of such
article. The tax factor shall be, in the case of article  twenty-two  of
this  chapter, the tax determined for the taxable year under subsections
(a) through (d) of section six hundred one of such  article.    FOR  THE

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

2013-S7196A - Details

See Assembly Version of this Bill:
A9220
Law Section:
Tax Law
Laws Affected:
Amd §16, Tax L
Versions Introduced in 2015-2016 Legislative Session:
A5545

2013-S7196A - Summary

Relates to taxpayers filing under article twenty-two of the tax law to include for the purposes of the tax factor all business income attributable to a QEZE business.

2013-S7196A - Sponsor Memo

2013-S7196A - Bill Text download pdf 

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

                                 7196--A

                            I N  S E N A T E

                               May 5, 2014
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee  on  Investigations  and
  Government  Operations  -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation to QEZE tax reduction credits

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Paragraph  1  of subdivision (f) of section 16 of the tax
law, as amended by section 14 of part CC of chapter 85 of  the  laws  of
2002, is amended to read as follows:
  (1) General. The tax factor shall be, in the case of article nine-A of
this  chapter, the larger of the amounts of tax determined for the taxa-
ble year under paragraphs (a) and (c) of subdivision one of section  two
hundred  ten  of  such  article. The tax factor shall be, in the case of
article twenty-two of this chapter, the tax determined for  the  taxable
year  under  subsections  (a)  through (d) of section six hundred one of
such article. FOR THE PURPOSES OF CALCULATING THE TAX FACTOR UNDER ARTI-
CLE TWENTY-TWO OF THIS CHAPTER, INCOME ALLOCATED TO NEW YORK STATE SHALL
INCLUDE ALL BUSINESS INCOME. The tax factor shall be,  in  the  case  of
article  thirty-two  of  this  chapter, the larger of the amounts of tax
determined for the taxable year under subsection (a) and  paragraph  two
of  subsection  (b) of section fourteen hundred fifty-five of such arti-
cle. The tax factor shall be, in the case  of  article  thirty-three  of
this  chapter, the larger of the amounts of tax determined for the taxa-
ble year under paragraphs one and three of subdivision  (a)  of  section
fifteen hundred two of such article.
  S  2.  Paragraph 1 of subdivision (f) of section 16 of the tax law, as
amended by section 34 of part A of chapter 59 of the laws  of  2014,  is
amended to read as follows:
  (1) General. The tax factor shall be, in the case of article nine-A of
this  chapter,  the  amount of tax determined for the taxable year under
paragraph (a) of subdivision one of section  two  hundred  ten  of  such
article.  The  tax factor shall be, in the case of article twenty-two of
this chapter, the tax determined for the taxable year under  subsections

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

co-Sponsors

2013-S7196B (ACTIVE) - Details

See Assembly Version of this Bill:
A9220
Law Section:
Tax Law
Laws Affected:
Amd §16, Tax L
Versions Introduced in 2015-2016 Legislative Session:
A5545

2013-S7196B (ACTIVE) - Summary

Relates to taxpayers filing under article twenty-two of the tax law to include for the purposes of the tax factor all business income attributable to a QEZE business.

2013-S7196B (ACTIVE) - Sponsor Memo

2013-S7196B (ACTIVE) - Bill Text download pdf 

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

                                 7196--B

                            I N  S E N A T E

                               May 5, 2014
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee  on  Investigations  and
  Government  Operations  -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to  said  committee  --  reported
  favorably  from  said  committee  and  committed  to  the Committee on
  Finance -- committee discharged, bill amended,  ordered  reprinted  as
  amended and recommitted to said committee

AN ACT to amend the tax law, in relation to QEZE tax reduction credits

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 1 of subdivision (f) of section  16  of  the  tax
law,  as  amended  by section 14 of part CC of chapter 85 of the laws of
2002, is amended to read as follows:
  (1) General. The tax factor shall be, in the case of article nine-A of
this chapter, the larger of the amounts of tax determined for the  taxa-
ble  year under paragraphs (a) and (c) of subdivision one of section two
hundred ten of such article. The tax factor shall be,  in  the  case  of
article  twenty-two  of this chapter, the tax determined for the taxable
year under subsections (a) through (d) of section  six  hundred  one  of
such   article.   PROVIDED   HOWEVER,  TAXPAYERS  FILING  UNDER  ARTICLE
TWENTY-TWO OF THIS CHAPTER SHALL INCLUDE FOR THE  PURPOSES  OF  THE  TAX
FACTOR  ALL  BUSINESS  INCOME  ATTRIBUTABLE  TO A QEZE BUSINESS WHICH IS
TAXABLE UNDER ARTICLE TWENTY-TWO OF THIS CHAPTER. The tax  factor  shall
be, in the case of article thirty-two of this chapter, the larger of the
amounts  of tax determined for the taxable year under subsection (a) and
paragraph two of subsection (b) of section fourteen  hundred  fifty-five
of  such  article. The tax factor shall be, in the case of article thir-
ty-three of this chapter, the larger of the amounts  of  tax  determined
for  the  taxable year under paragraphs one and three of subdivision (a)
of section fifteen hundred two of such article.
  S 2. Paragraph 1 of subdivision (f) of section 16 of the tax  law,  as
amended  by  section  34 of part A of chapter 59 of the laws of 2014, is
amended to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14537-07-4

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