Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 09, 2018 |
referred to ways and means |
Assembly Bill A9795
2017-2018 Legislative Session
Sponsored By
ABBATE
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
Actions
2017-A9795 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7556
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§606 & 615, Tax L
2017-A9795 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9795 I N A S S E M B L Y February 9, 2018 ___________ Introduced by M. of A. ABBATE -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to implementing a union dues tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 606 of the tax law is amended by adding a new subsection (iii) to read as follows: (III) UNION DUES TAX CREDIT. (1) ALLOWANCE OF CREDIT. FOR TAXABLE YEARS BEGINNING ON AND AFTER JANUARY FIRST, TWO THOUSAND EIGHTEEN AND BEFORE JANUARY FIRST, TWO THOUSAND TWENTY-SIX, A RESIDENT TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN PARAGRAPH THREE OF THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR ALLOWABLE UNION DUES. (2) ALLOWABLE DUES. THE TERM "ALLOWABLE UNION DUES" SHALL MEAN THE FULL AMOUNT OF AGENCY SHOP FEES AND UNION DUES PAID BY THE TAXPAYER DURING THE TAXABLE YEAR THAT WOULD HAVE BEEN DEDUCTIBLE IN THE TAXABLE YEAR ENDING DECEMBER THIRTY-FIRST, TWO THOUSAND SEVENTEEN UNDER SECTION 187 OF THE INTERNAL REVENUE CODE WITHOUT REGARD TO THE LIMITATION IMPOSED BY SECTION 67 OF THE INTERNAL REVENUE CODE. (3) COMPUTATION OF CREDIT. THE AMOUNT OF CREDIT ALLOWABLE PURSUANT TO THIS SUBSECTION SHALL EQUAL THE ALLOWABLE UNION DUES MULTIPLIED BY THE RATE OF TAX IMPOSED ON THE TAXPAYER'S NEW YORK TAXABLE INCOME PURSUANT TO SECTION SIX HUNDRED ONE OF THIS PART. (4) REFUNDS. THE CREDIT UNDER THIS SUBSECTION SHALL BE ALLOWED AGAINST THE TAXES IMPOSED BY THIS ARTICLE FOR THE TAXABLE YEAR REDUCED BY THE CREDITS PERMITTED BY THIS ARTICLE. IF THE CREDIT EXCEEDS THE TAX AS SO REDUCED, THE TAXPAYER MAY RECEIVE, AND THE COMPTROLLER, SUBJECT TO A CERTIFICATE OF THE COMMISSIONER, SHALL PAY AS AN OVERPAYMENT, WITHOUT INTEREST, THE AMOUNT OF SUCH EXCESS. § 2. Paragraph 5 of subsection (d) of section 615 of the tax law, as added by section 1 of part OOO of chapter 59 of the laws of 2017, is amended to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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