Assembly Bill A5358

2021-2022 Legislative Session

Relates to exemptions from sales and use taxes for gift certificates, electronic gift cards and magnetic gift cards

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

multi-Sponsors

2021-A5358 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1115, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A1775
2017-2018: A5519
2019-2020: A4801
2023-2024: A2754

2021-A5358 (ACTIVE) - Summary

Relates to exemptions from sales and use taxes for gift certificates, electronic gift cards and magnetic gift cards.

2021-A5358 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5358
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 12, 2021
                                ___________
 
 Introduced  by  M.  of  A.  GANDOLFO  --  Multi-Sponsored by -- M. of A.
   BARCLAY, BRABENEC, DiPIETRO, FRIEND, HAWLEY, LALOR, McDONOUGH, MONTES-
   ANO, PALMESANO, STECK, THIELE -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in relation to exemptions  from  sales  and
   use  taxes  for  gift certificates, electronic gift cards and magnetic
   gift cards
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision (a) of section 1115 of the tax law is amended
 by adding a new paragraph 46 to read as follows:
   (46)(A) GIFT CERTIFICATES, ELECTRONIC GIFT  CARDS  AND  MAGNETIC  GIFT
 CARDS.
   (B) FOR THE PURPOSE OF THIS PARAGRAPH: (I) THE TERM "GIFT CERTIFICATE"
 MEANS A WRITING IDENTIFIED AS A GIFT CERTIFICATE BY AN ISSUER FOR USE BY
 A  CUSTOMER, WHETHER OR NOT REDEEMABLE FOR CASH, AND USABLE FOR ITS FACE
 AMOUNT IN LIEU OF CASH FOR THE EXCHANGE OF GOODS OR SERVICES SUPPLIED BY
 THE SELLER. GIFT CERTIFICATES SHALL INCLUDE ELECTRONIC OR MAGNETIC CARDS
 WITH A BANKED DOLLAR VALUE, A MERCHANDISE CREDIT,  A  CERTIFICATE  WHERE
 THE  ISSUER  HAS RECEIVED PAYMENT FOR THE FULL FACE VALUE FOR THE FUTURE
 PURCHASE OR DELIVERY OF GOODS OR SERVICES, AND  ANY  OTHER  MEDIUM  THAT
 EVIDENCES  THE  GIVING  OF  CONSIDERATION  IN  EXCHANGE FOR THE RIGHT TO
 REDEEM IT FOR GOODS OR SERVICES OF AT LEAST AN EQUAL  VALUE.    PRE-PAID
 CALLING  ARRANGEMENTS,  SUCH AS PRE-PAID PHONE CARDS, ARE NOT CONSIDERED
 GIFT CERTIFICATES; (II) THE TERM "ELECTRONIC  GIFT  CARD"  OR  "MAGNETIC
 GIFT  CARD" MEANS A CARD WITH A BANKED DOLLAR VALUE THAT MAY BE REDEEMED
 FOR GOODS OR SERVICES WHEREBY THE DOLLAR AMOUNT OF THE CARD  IS  REDUCED
 ACCORDINGLY.
   §  2. This act shall take effect on the first day of a quarterly sales
 tax period, as set forth in subdivision (b) of section 1136 of  the  tax
 law, next succeeding the thirtieth day after it shall have become a law.
 Provided,  however  that  the commissioner of taxation and finance shall
 take any action necessary for the timely implementation of this  act  on
 or before the date on which it shall have become a law.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.