Senate Bill S7386

Signed By Governor
2023-2024 Legislative Session

Relates to personal income taxes in the city of New York

download bill text pdf

Sponsored By

Current Bill Status - Signed by Governor


  • 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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2023-S7386 (ACTIVE) - Details

See Assembly Version of this Bill:
A7667
Law Section:
Tax Law
Laws Affected:
Amd §§1212-a, 1301, 1304 & 1304-B, Tax L; amd §§11-604, 11-1701, 11-1704.1, 11-2002 & 11-2040, NYC Ad Cd; amd §4, Chap 877 of 1975; amd §6, Chap 884 of 1975; amd §2, Chap 882 of 1977

2023-S7386 (ACTIVE) - Summary

Extends certain provisions of law relating to tax rates and the imposition of income taxes in the city of New York.

2023-S7386 (ACTIVE) - Sponsor Memo

2023-S7386 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7386
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 22, 2023
                                ___________
 
 Introduced by Sen. SEPULVEDA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN  ACT to amend the tax law, the administrative code of the city of New
   York, chapter 877 of the laws of 1975, chapter 884 of the laws of 1975
   and chapter 882 of the laws of 1977, relating  to  the  imposition  of
   certain  taxes  in the city of New York, in relation to postponing the
   expiration of certain tax rates and taxes in the city of New York
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 3 of subdivision (a) of section 1212-a of the tax
 law,  as  amended by section 1 of subpart G of part XXX of chapter 58 of
 the laws of 2020, is amended to read as follows:
   (3) a tax, at the same uniform rate, but at a rate not to exceed  four
 and  one-half per centum, in multiples of one-half of one per centum, on
 the receipts from every sale of any or all of the following services  in
 whole or in part: credit rating, credit reporting, credit adjustment and
 collection  services,  including,  but  not  limited  to, those services
 provided by mercantile and consumer credit rating or  reporting  bureaus
 or  agencies  and  credit  adjustment or collection bureaus or agencies,
 whether rendered in written or oral form or in any other manner,  except
 to the extent otherwise taxable under article twenty-eight of this chap-
 ter;  notwithstanding  the  foregoing,  collection  services  shall  not
 include those services performed by a law office or a law and collection
 office, the maintenance or conduct of which constitutes the practice  of
 law,  if  the  services are performed by an attorney at law who has been
 duly licensed and admitted to practice law in this state. The local  law
 imposing  the  taxes authorized by this paragraph may provide for exclu-
 sions and exemptions in addition to those provided  for  in  such  para-
 graph.  Provided,  however,  that the tax hereby authorized shall not be
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11209-01-3
 S. 7386                             2
              

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