Two Senator Defrancisco Tax Bills Become Law

John A. DeFrancisco

September 29, 2011

Property Tax

Senator John A. DeFrancisco (R-I-C Syracuse) has announced that Governor Cuomo signed into law two tax bills that he sponsored this year.

The first law amends an existing tax law to allow for a refund when a personal or corporate income tax overpayment is made instead of applying it to the following year.

“If New York State residents, when paying their taxes, make an overpayment, they should not be penalized by having the state keep their money until the following year,” said Senator DeFrancisco.

The second law allows the New York State Department of Taxation and Finance to collect an unpaid tax debt within 20 years of its issuance, or the tax liability will expire. The previous law provided no time frame in which the tax liability had to be collected. This resulted in manpower being wasted on old record maintenance and on attempts at unlikely collection of debt.

“Because successful debt collection usually occurs quickly, it makes sense to deploy as many resources as possible to the collection of the newest tax warrants. Currently resources are wasted on attempting to collect old debt, where the collection success rate is very low,” said Senator DeFrancisco.

Additionally, the Tax Department can run more efficiently by shifting resources and manpower to other more productive uses of time. “At a time when resources are scarce, all government agencies need to find ways to operate more efficiently,” said Senator DeFrancisco. Both laws take effect immediately.

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