Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to investigations and government operations |
Jun 25, 2015 |
committed to rules |
May 27, 2015 |
advanced to third reading |
May 20, 2015 |
2nd report cal. |
May 19, 2015 |
1st report cal.865 |
May 05, 2015 |
reported and committed to finance |
Jan 22, 2015 |
referred to investigations and government operations |
Senate Bill S2312
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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
Actions
Votes
co-Sponsors
(R, C, IP) Senate District
(R, C) 60th Senate District
(R, C, IP) Senate District
(R, C, IP) Senate District
2015-S2312 (ACTIVE) - Details
2015-S2312 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2312 TITLE OF BILL: An act to amend the tax law, in relation to reducing farm-based taxes PURPOSE: To allow farms, commercial horse boarding operations, and agricultural service providers to use their net income, in place of their gross income, for tax purposes. SUMMARY OF PROVISIONS: Section 1 amends subparagraphs (A) and (B) of paragraph 3 of subsection (c) of section 658 of the Tax Law. Subparagraph (A) is amended to allow farms, commercial horse boarding operations or agricultural service providers 120 days after the last day of the taxable year to make payment of their required filing fee. Subparagraph (B) is amended to allow companies engaged primarily in farming, commercial horse boarding operations or agricultural service providers to use their net income as reported for federal tax purposes in place of their federal gross income. Section 2 amends subparagraph 1 of paragraph (d) of subdivision 1 of section 210 of the Tax Law to allow corporations engaged primarily in farming, commercial horse boarding or providing agricultural services
2015-S2312 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2312 2015-2016 Regular Sessions I N S E N A T E January 22, 2015 ___________ Introduced by Sens. RITCHIE, FUNKE, GALLIVAN, MARCHIONE, RANZENHOFER, SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07663-01-5
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