This bill has been amended

Bill S150-2013

Relates to a study on requiring credit card companies to collect certain taxes

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.

Details

Actions

  • Jan 8, 2014: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • Jan 9, 2013: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Memo

BILL NUMBER:S150

TITLE OF BILL: 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

PURPOSE: To require the Commissioner of Taxation and Finance to conduct a study regarding the steps necessary for issuers of credit and debit cards to submit sales and use taxes directly to the commissioner.

SUMMARY OF PROVISIONS: Section 1. Authorizes and directs the commissioner of taxation to conduct a study on requiring issuers of credit and debit cards to pay and collect sales and use taxes and to pay such taxes directly to the commissioner. Describes the contents of such study. Requires such study to be submitted to the legislature on or before April 15, 2015.

Section 2. Effective Date

JUSTIFICATION: A major source of failure to comply with New York State sales taxes being remitted to the State from vendors who collect such taxes from their customers, is the current system which relies solely upon the thousands of vendors to voluntarily remit such sales taxes. However, the companies that issue credit and debit cards have continuously opposed any attempts to change the current system.

This bill would require the Commissioner of Taxation and Finance to conduct a study of the current system, methods to improve the collection of sales taxes, the technology that would be required to implement a system of direct payment and the cost of implementing such a system.

LEGISLATIVE HISTORY: 2012: S.5310A - Amend and recommit to Investigations and Government Operations/A.7611A - Held for consideration in Ways and Means 2011 - S.5310 - Referred to Investigations and Government Operations/A.7611 Referred to Ways and Means

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 150 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________
Introduced by Sen. DIAZ -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations 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. 1. 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, 2015. S 2. This act shall take effect immediately.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Discuss!

blog comments powered by Disqus