Relates to a study on requiring credit card companies to collect certain taxes and requires the results of the study to be submitted to the legislature.
STATE OF NEW YORK ________________________________________________________________________ 7611--A 2011-2012 Regular Sessions IN ASSEMBLY May 11, 2011 ___________Introduced by M. of A. CRESPO -- read once and referred to the Committee on Ways and Means -- recommitted to the Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT requiring the commissioner of taxation and finance to conduct a study on requiring issuers of credit cards and debit cards to pay and collect sales and use taxes and to pay such taxes directly to such commissioner THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Study on credit card companies collecting certain taxes. The commissioner of taxation and finance is authorized and directed to conduct a study on requiring issuers of credit cards and debit cards to pay and collect sales and use taxes and pay such taxes directly to such commissioner. 2. Such study shall include but not be limited to an investigation of the current system which relies solely upon the thousands of vendors to voluntarily remit such sales taxes, methods to improve the collection of sales taxes from credit card and debit card issuers, the technology that would be required to implement a system of direct payment to the commis- sioner of taxation and finance, and the cost of implementing such a system. 3. Such study shall be submitted to the legislature on or before April 15, 2013. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11104-03-1