Exempts the first $1,250,000 of earnings from self-employment during any tax year, from the metropolitan commuter transportation mobility tax.

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A9314B-2011 Actions

• Jun 19, 2012: held for consideration in ways and means
• May 9, 2012: print number 9314c
• May 9, 2012: amend and recommit to ways and means
• Mar 28, 2012: print number 9314b
• Mar 28, 2012: amend (t) and recommit to ways and means
• Feb 23, 2012: print number 9314a
• Feb 23, 2012: amend (t) and recommit to ways and means
• Feb 16, 2012: referred to ways and means

A9314B-2011 Text

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

                                   9314--B

                            I N  ASSEMBLY

                              February 16, 2012
                                 ___________

  Introduced by M. of A. CUSICK, KAVANAGH, MILLMAN, M. MILLER -- read once
    and  referred  to  the  Committee  on  Ways  and  Means  --  committee
    discharged, bill amended, ordered reprinted as amended and recommitted
    to said committee -- again reported from said  committee  with  amend-
    ments, ordered reprinted as amended and recommitted to said committee

  AN  ACT  to  amend the tax law, in relation to exempting self-employment
    earnings of one million two hundred fifty  thousand  dollars  or  less
    from the metropolitan commuter transportation mobility tax

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


    Section 1. Subsection (a) of section 801 of the tax law, as amended by
  section 2 of part B of chapter 56 of the laws of  2011,  is  amended  to
  read as follows:

    (a)  For  the sole purpose of providing an additional stable and reli-
  able  dedicated  funding  source  for  the  metropolitan  transportation
  authority  and  its subsidiaries and affiliates to preserve, operate and
  improve essential transit and transportation services in  the  metropol-
  itan  commuter  transportation  district,  a  tax  is  hereby imposed on
  employers who engage in business within the MCTD (1) at a  rate  of  (A)
  eleven  hundredths  (.11)  percent for employers with payroll expense no
  greater than three hundred seventy-five thousand dollars in any calendar
  quarter, (B) twenty-three hundredths (.23) percent  for  employers  with
  payroll expense greater than three hundred seventy-five thousand dollars
  and  no  greater  than  four  hundred thirty-seven thousand five hundred
  dollars in any calendar quarter, and (C)  thirty-four  hundredths  (.34)
  percent  for  employers  with  payroll expense in excess of four hundred
  thirty-seven thousand five hundred dollars in any calendar quarter,  and
  (2)  at  a rate of thirty-four hundredths (.34) percent of the net earn-
  ings from self-employment of individuals that are  attributable  to  the
  MCTD  if  such  earnings attributable to the MCTD exceed ONE MILLION TWO
  HUNDRED fifty thousand dollars for the tax year.
    S 2. This act shall take effect April 1, 2012.

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD14142-05-2