Assembly Bill A8995

2013-2014 Legislative Session

Relates to reducing farm-based taxes

download bill text pdf

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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

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2013-A8995 (ACTIVE) - Details

See Senate Version of this Bill:
S6223
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§658 & 210, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A4415, S2312
2017-2018: A4649
2019-2020: A5445
2021-2022: A5316

2013-A8995 (ACTIVE) - Summary

Relates to reducing farm-based taxes.

2013-A8995 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8995

                          I N  A S S E M B L Y

                              March 6, 2014
                               ___________

Introduced  by M. of A. MAGEE -- read once and referred to the Committee
  on Ways and Means

AN ACT to amend the tax law, in relation to reducing farm-based taxes

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Subparagraphs (A) and (B) of paragraph 3 of subsection (c)
of section 658 of the tax law, subparagraph (A) as amended by section 18
of part U of chapter 61 of the laws of  2011  and  subparagraph  (B)  as
amended  by section 1 of part H-1 of chapter 57 of the laws of 2009, are
amended to read as follows:
  (A) Every  subchapter  K  limited  liability  company,  every  limited
liability  company  that  is a disregarded entity for federal income tax
purposes, and every partnership which has any income  derived  from  New
York  sources,  determined  in  accordance  with the applicable rules of
section six hundred thirty-one of this article  as  in  the  case  of  a
nonresident  individual,  shall, within sixty days after the last day of
the taxable year, make a payment of a filing fee.  SUCH  DEADLINE  SHALL
NOT APPLY TO FARMS, COMMERCIAL HORSE BOARDING OPERATIONS OR AGRICULTURAL
SERVICE  PROVIDERS  SUBJECT  TO THE FEE, WHICH SHALL, WITHIN ONE HUNDRED
TWENTY DAYS AFTER THE LAST DAY OF THE TAXABLE YEAR, MAKE PAYMENT OF  ANY
REQUIRED  FILING  FEE.  The  amount  of the filing fee is the amount set
forth in subparagraph (B) of this paragraph. The minimum filing  fee  is
twenty-five  dollars  for  taxable years beginning in two thousand eight
and thereafter. Limited liability companies that are  disregarded  enti-
ties  for  federal  income tax purposes must pay a filing fee of twenty-
five dollars for taxable years beginning on or after January first,  two
thousand eight.
  (B)  The  filing fee will be based on the New York source gross income
of the limited liability company or partnership  for  the  taxable  year
immediately  preceding the taxable year for which the fee is due. If the
limited liability company or partnership does  not  have  any  New  York
source gross income for the taxable year immediately preceding the taxa-
ble  year  for  which  the  fee is due, the limited liability company or
partnership shall pay the minimum filing fee. Partnerships,  other  than

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

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