Assembly Bill A5545

Vetoed By Governor
2015-2016 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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2015-A5545 (ACTIVE) - Details

See Senate Version of this Bill:
S3971
Law Section:
Tax Law
Laws Affected:
Amd ยง16, Tax L
Versions Introduced in 2013-2014 Legislative Session:
A9220

2015-A5545 (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.

2015-A5545 (ACTIVE) - Bill Text download pdf 

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

                                  5545

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 27, 2015
                               ___________

Introduced  by M. of A. STECK -- read once and referred to the Committee
  on Ways and Means

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 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. PROVIDED
HOWEVER, TAXPAYERS FILING UNDER ARTICLE TWENTY-TWO OF THIS CHAPTER SHALL
INCLUDE FOR THE PURPOSES OF THE TAX FACTOR ALL BUSINESS INCOME ATTRIBUT-
ABLE 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-
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. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09283-01-5

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