Assembly Bill A8256

2023-2024 Legislative Session

Establishes a reduced sales tax rate for certain small businesses

download bill text pdf

Sponsored By

Current 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

2023-A8256 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add §1105-C, Tax L

2023-A8256 (ACTIVE) - Summary

Establishes a reduced sales tax rate for small businesses which reside in the state and are independently owned and operated, not dominant in its field and employs fifty or less persons.

2023-A8256 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8256
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 15, 2023
                                ___________
 
 Introduced  by M. of A. VANEL -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing a reduced sales
   tax rate for certain small businesses
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  The  tax law is amended by adding a new section 1105-C to
 read as follows:
   § 1105-C. REDUCED TAX RATE FOR SMALL BUSINESSES.  (A)  NOTWITHSTANDING
 ANY  PROVISION  OF  THIS  ARTICLE  TO THE CONTRARY, THE TAXES IMPOSED BY
 SUBDIVISION (A) OF SECTION ELEVEN HUNDRED  FIVE  OF  THIS  PART  ON  THE
 RECEIPTS  FROM  EVERY RETAIL SALE OF TANGIBLE PERSONAL PROPERTY SHALL BE
 PAID AT THE RATE OF TWO AND ONE-HALF PERCENT WHERE SUCH SALE IS MADE  BY
 A QUALIFIED SMALL BUSINESS. THE PROVISIONS OF THIS SUBDIVISION SHALL NOT
 APPLY  TO  THE  SALE  OF  ALCOHOLIC  BEVERAGES,  CIGARETTES  AND TOBACCO
 PRODUCTS AS DEFINED IN SECTION FOUR HUNDRED  SEVENTY  OF  THIS  CHAPTER,
 FIREARMS,  RIFLES  AND  SHOTGUNS  AS SUCH TERMS ARE DEFINED IN 18 U.S.C.
 921, MOTOR FUEL OR DIESEL MOTOR FUEL, AND ANY OTHER PRODUCT OR CLASS  OF
 PRODUCT WHICH HAVE A RATE OF TAX SET EXPLICITLY BY THIS CHAPTER FOR SUCH
 PRODUCT OR CLASS OF PRODUCTS.
   (B) AS USED IN THIS SECTION, THE TERM "QUALIFIED SMALL BUSINESS" SHALL
 MEAN A BUSINESS WHICH IS RESIDENT IN THIS STATE, INDEPENDENTLY OWNED AND
 OPERATED,  NOT DOMINANT IN ITS FIELD, EMPLOYS FIFTY OR LESS PERSONS, AND
 EARNED LESS THAN AN AMOUNT IN GROSS SALES REVENUE, AS TO  BE  DETERMINED
 BY THE COMMISSIONER, IN THE PRECEDING YEAR.
   §  2. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a  law  and  shall  apply  to
 taxable years commencing on and after such date.
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13525-02-3

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.