Senate Bill S3971

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

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A5545 - 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-S3971 (ACTIVE) - Details

See Assembly Version of this Bill:
A5545
Law Section:
Tax Law
Laws Affected:
Amd ยง16, Tax L
Versions Introduced in 2013-2014 Legislative Session:
A9220

2015-S3971 (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-S3971 (ACTIVE) - Sponsor Memo

2015-S3971 (ACTIVE) - Bill Text download pdf 

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

                                  3971

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 25, 2015
                               ___________

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 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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