Assembly Bill A636

2019-2020 Legislative Session

Relates to pass-through manufacturers zero percent tax rate

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

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Bill Amendments

co-Sponsors

2019-A636 - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§612 & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10121
2021-2022: A3734
2023-2024: A4168

2019-A636 - Summary

Relates to pass-through manufacturers zero percent tax rate.

2019-A636 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    636
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced  by  M. of A. STIRPE, PALMESANO, SCHIMMINGER, WOERNER -- read
   once and referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to tax  credits  for  qualified
   pass-through manufacturers

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subsection (b) of section 612 of the tax law is amended  by
 adding a new paragraph 43 to read as follows:
   (43)  ANY  INCOME,  GAIN,  LOSS  AND  DEDUCTION,  TO  THE EXTENT IT IS
 INCLUDED IN FEDERAL ADJUSTED GROSS INCOME AND IS,  COMBINED,  LESS  THAN
 ZERO,  OF  AN INDIVIDUAL OR TRUST FROM A QUALIFIED PASS-THROUGH MANUFAC-
 TURER, AS DEFINED IN PARAGRAPH FORTY-FOUR  OF  SUBSECTION  (C)  OF  THIS
 SECTION.
   §  2. Paragraph 39 of subsection (c) of section 612 of the tax law, as
 added by section 1 of part Y of chapter 59  of  the  laws  of  2013,  is
 amended and a new paragraph 44 is added to read as follows:
   (39)  In  the case of a taxpayer who is a small business who has busi-
 ness income and/or farm income as defined in  the  laws  of  the  United
 States,  an  amount  equal  to three percent of the net items of income,
 gain, loss and deduction attributable to such business or farm  entering
 into  federal adjusted gross income, but not less than zero, for taxable
 years beginning after two thousand thirteen, an amount  equal  to  three
 and  three-quarters  percent  of the net items of income, gain, loss and
 deduction attributable to such business or farm  entering  into  federal
 adjusted  gross income, but not less than zero, for taxable years begin-
 ning after two thousand fourteen, and an amount equal to five percent of
 the net items of income, gain, loss and deduction attributable  to  such
 business  or  farm  entering into federal adjusted gross income, but not
 less than zero, for taxable years beginning after two thousand  fifteen.
 For the purposes of this paragraph, the term small business shall mean a
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

co-Sponsors

multi-Sponsors

2019-A636A - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§612 & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10121
2021-2022: A3734
2023-2024: A4168

2019-A636A - Summary

Relates to pass-through manufacturers zero percent tax rate.

2019-A636A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  636--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced by M. of A. STIRPE, PALMESANO, SCHIMMINGER, WOERNER, McDONALD
   --  read  once  and  referred  to  the  Committee on Ways and Means --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee

 AN  ACT  to amend the tax law, in relation to pass-through manufacturers
   zero percent tax rate
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subsection (b) of section 612 of the tax law is amended by
 adding a new paragraph 42 to read as follows:
   (42) ANY INCOME, GAIN,  LOSS  AND  DEDUCTION,  TO  THE  EXTENT  IT  IS
 INCLUDED  IN  FEDERAL  ADJUSTED  GROSS  INCOME AND IS, WHEN COMBINED AND
 COMBINED WITH ADDITIONS FOR FEDERAL DEPRECATION  REQUIRED  BY  PARAGRAPH
 EIGHT  OF  THIS  SUBSECTION  AND  SUBTRACTIONS  FOR  NEW YORK ALLOWED BY
 SUBSECTION (K) OF THIS SECTION, LESS THAN  ZERO,  OF  AN  INDIVIDUAL  OR
 TRUST  FROM  A  QUALIFIED PASS-THROUGH MANUFACTURER, AS DEFINED IN PARA-
 GRAPH FORTY-THREE OF SUBSECTION (C) OF THIS SECTION.
   § 2. Paragraph 39 of subsection (c) of section 612 of the tax law,  as
 added  by  section  1  of  part  Y of chapter 59 of the laws of 2013, is
 amended and a new paragraph 43 is added to read as follows:
   (39) In the case of a taxpayer who is a small business who  has  busi-
 ness  income  and/or  farm  income  as defined in the laws of the United
 States, an amount equal to three percent of the  net  items  of  income,
 gain,  loss and deduction attributable to such business or farm entering
 into federal adjusted gross income, but not less than zero, for  taxable
 years  beginning  after  two thousand thirteen, an amount equal to three
 and three-quarters percent of the net items of income,  gain,  loss  and
 deduction  attributable  to  such business or farm entering into federal
 adjusted gross income, but not less than zero, for taxable years  begin-
 ning after two thousand fourteen, and an amount equal to five percent of
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

co-Sponsors

multi-Sponsors

2019-A636B (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§612 & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10121
2021-2022: A3734
2023-2024: A4168

2019-A636B (ACTIVE) - Summary

Relates to pass-through manufacturers zero percent tax rate.

2019-A636B (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  636--B
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced  by  M.  of A. STIRPE, PALMESANO, SCHIMMINGER, WOERNER, McDO-
   NALD, WALLACE -- Multi-Sponsored by -- M. of A. MANKTELOW -- read once
   and  referred  to  the  Committee  on  Ways  and  Means  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  -- again reported from said committee with amend-
   ments, ordered reprinted as amended and recommitted to said committee
 
 AN ACT to amend the tax law, in relation to  pass-through  manufacturers
   zero percent tax rate
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subsection (b) of section 612 of the tax law is amended  by
 adding a new paragraph 42 to read as follows:
   (42)  ANY  INCOME,  GAIN,  LOSS  AND  DEDUCTION,  TO  THE EXTENT IT IS
 INCLUDED IN FEDERAL ADJUSTED GROSS INCOME  AND  IS,  WHEN  COMBINED  AND
 COMBINED  WITH  ADDITIONS  FOR FEDERAL DEPRECATION REQUIRED BY PARAGRAPH
 EIGHT OF THIS SUBSECTION  AND  SUBTRACTIONS  FOR  NEW  YORK  ALLOWED  BY
 SUBSECTION  (K)  OF  THIS  SECTION,  LESS THAN ZERO, OF AN INDIVIDUAL OR
 TRUST FROM A QUALIFIED PASS-THROUGH MANUFACTURER, AS  DEFINED  IN  PARA-
 GRAPH FORTY-THREE OF SUBSECTION (C) OF THIS SECTION.
   §  2. Paragraph 39 of subsection (c) of section 612 of the tax law, as
 added by section 1 of part Y of chapter 59  of  the  laws  of  2013,  is
 amended and a new paragraph 43 is added to read as follows:
   (39)  In  the case of a taxpayer who is a small business who has busi-
 ness income and/or farm income as defined in  the  laws  of  the  United
 States,  an  amount  equal  to three percent of the net items of income,
 gain, loss and deduction attributable to such business or farm  entering
 into  federal adjusted gross income, but not less than zero, for taxable
 years beginning after two thousand thirteen, an amount  equal  to  three
 and  three-quarters  percent  of the net items of income, gain, loss and
 deduction attributable to such business or farm  entering  into  federal
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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