NY State Senate Bill 2015-S2312

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

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Actions

View Actions

	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

Votes

- May 5, 2015 - Investigations And Government Operations Committee Vote
  S2312
  
  6
  
  Aye
  
  2
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Investigations And Government Operations Committee Vote: May 5, 2015
      
      aye (6)
      
      Carlucci
      
      Diaz
      
      Golden
      
      Marcellino
      
      Nozzolio
      
      O'Mara
      
      nay (2)
      
      Hoylman-Sigal
      
      Squadron
      
      aye wr (1)
      
      Murphy
  May 19, 2015 - Finance Committee Vote
  S2312
  
  29
  
  Aye
  
  6
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Finance Committee Vote: May 19, 2015
      
      aye (29)
      
      Bonacic
      
      Breslin
      
      DeFrancisco
      
      Diaz
      
      Farley
      
      Gallivan
      
      Golden
      
      Griffo
      
      Hannon
      
      Hassell-Thompson
      
      Kennedy
      
      LaValle
      
      Lanza
      
      Larkin
      
      Little
      
      Marcellino
      
      Martins
      
      Montgomery
      
      Nozzolio
      
      O'Mara
      
      Perkins
      
      Ranzenhofer
      
      Ritchie
      
      Robach
      
      Savino
      
      Seward
      
      Stavisky
      
      Valesky
      
      Young
      
      nay (6)
      
      Dilan
      
      Espaillat
      
      Krueger
      
      Parker
      
      Rivera
      
      Squadron
      
      aye wr (1)
      
      Peralta

co-Sponsors

View additional co-sponsors

2015-S2312 (ACTIVE) - Details

See Assembly Version of this Bill:: A4415
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§658 & 210, Tax L
Versions Introduced in Other Legislative Sessions:: 2013-2014: S6223, A8995
2017-2018: A4649
2019-2020: A5445
2021-2022: A5316

2015-S2312 (ACTIVE) - Summary

Relates to reducing farm-based taxes.

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

to have the term New York receipts refer to net farm income as
reported for federal tax purposes.

Section 3 provides the effective date.

JUSTIFICATION:

This bill is necessary because the current tax system uses gross
income instead of net income. Gross income does not take into account
the high expenses farms and other agricultural operations incur to
yield their products. Only by using net income are the unusually high
expenses of an agricultural business taken into account, thereby
allowing a more accurate filing of their income.

Additionally, this bill will remove a few of the many onerous and
burdensome requirements that are imposed on farms and agricultural
businesses in New York State. By lifting a few of these requirements,
farms will begin to experience some relief This will make New York
State a place where farms and businesses can grow and create jobs.

LEGISLATIVE HISTORY:

2013-2014: S.6223/A. 8995

FISCAL IMPLICATIONS:

Minimal.

EFFECTIVE DATE:

This act shall take effect immediately.

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

S. 2312                             2

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
limited liability partnerships under article eight-B of the  partnership
law  and  foreign  limited  liability  partnerships,  with less than one
million dollars in New York source gross  income  are  exempt  from  the
filing  fee. New York source gross income is the sum of the partners' or
members' shares of federal gross income from the partnership or  limited
liability  company  derived  from  or  connected  with New York sources,
determined in accordance with the  provisions  of  section  six  hundred
thirty-one  of  this  article  as  if  those  provisions and any related
provisions expressly referred to a computation of federal  gross  income
from  New  York  sources.  For  this  purpose,  federal  gross income is
computed without any allowance or deduction  for  cost  of  goods  sold,
EXCEPT THAT FOR COMPANIES ENGAGED PRIMARILY IN FARMING, COMMERCIAL HORSE
BOARDING  OR  AGRICULTURAL  SERVICE  PROVIDERS,  THE  TERM FEDERAL GROSS
INCOME SHALL MEAN NET INCOME AS REPORTED FOR FEDERAL TAX PURPOSES.
  The amount of the filing fee for taxable years beginning on  or  after
January  first, two thousand eight will be determined in accordance with
the following table:

If the New York source gross income is:         The fee is:
not more than $100,000                          $25
more than $100,000 but not over $250,000        $50
more than $250,000 but not over $500,000        $175
more than $500,000 but not over $1,000,000      $500
more than $1,000,000 but not over $5,000,000    $1,500
more than $5,000,000 but not over $25,000,000   $3,000
Over $25,000,000                                $4,500

  S 2. Subparagraph 1 of paragraph (d) of subdivision 1 of  section  210
of  the tax law, as amended by section 12 of part A of chapter 59 of the
laws of 2014, is amended to read as follows:
  (1) The amount prescribed by this paragraph  for  New  York  S  corpo-
rations will be determined in accordance with the following table:

If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   25
 more than $100,000 but not over $250,000             $   50
 more than $250,000 but not over $500,000             $  175
 more than $500,000 but not over $1,000,000           $  300
 more than $1,000,000 but not over $5,000,000         $1,000
 more than $5,000,000 but not over $25,000,000        $3,000
 Over $25,000,000                                     $4,500

Provided  further,  the amount prescribed by this paragraph for a quali-
fied New York manufacturer, as defined in subparagraph (vi) of paragraph
(a) of this subdivision, and a  qualified  emerging  technology  company
under  paragraph  (c)  of  subdivision one of section thirty-one hundred
two-e of the public authorities law regardless of the ten million dollar
limitation expressed in subparagraph one of such paragraph (c)  will  be
determined in accordance with the following tables:
For  tax  years beginning on or after January 1, 2014 and before January
1, 2015:

S. 2312                             3

If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   23
 more than $100,000 but not over $250,000             $   68
 more than $250,000 but not over $500,000             $  159
 more than $500,000 but not over $1,000,000           $  454
 more than $1,000,000 but not over $5,000,000         $1,362
 more than $5,000,000 but not over $25,000,000        $3,178
 Over $25,000,000                                     $4,500

For  tax  years beginning on or after January 1, 2015 and before January
1, 2016:

If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   22
 more than $100,000 but not over $250,000             $   66
 more than $250,000 but not over $500,000             $  153
 more than $500,000 but not over $1,000,000           $  439
 more than $1,000,000 but not over $5,000,000         $1,316
 more than $5,000,000 but not over $25,000,000        $3,070
 Over $25,000,000                                     $4,385

For tax years beginning on or after January 1, 2016 and  before  January
1, 2018:

If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   21
 more than $100,000 but not over $250,000             $   63
 more than $250,000 but not over $500,000             $  148
 more than $500,000 but not over $1,000,000           $  423
 more than $1,000,000 but not over $5,000,000         $1,269
 more than $5,000,000 but not over $25,000,000        $2,961
 Over $25,000,000                                     $4,230

For tax years beginning on or after January 1, 2018:

If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   19
 more than $100,000 but not over $250,000             $   56
 more than $250,000 but not over $500,000             $  131
 more than $500,000 but not over $1,000,000           $  375
 more than $1,000,000 but not over $5,000,000         $1,125
 more than $5,000,000 but not over $25,000,000        $2,625
 Over $25,000,000                                     $3,750

Otherwise  the amount prescribed by this paragraph will be determined in
accordance with the following table:

If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   25
 more than $100,000 but not over $250,000             $   75
 more than $250,000 but not over $500,000             $  175
 more than $500,000 but not over $1,000,000           $  500
 more than $1,000,000 but not over $5,000,000         $1,500
 more than $5,000,000 but not over $25,000,000        $3,500
 more than $25,000,000
 but not over $50,000,000                             $5,000

S. 2312                             4

 more than $50,000,000 but not over $100,000,000      $10,000
 more than $100,000,000 but not over $250,000,000     $20,000
 more than $250,000,000 but not over $500,000,000     $50,000
 more than $500,000,000 but not over $1,000,000,000   $100,000
 Over $1,000,000,000                                  $200,000

For  purposes  of  this  paragraph,  New  York receipts are the receipts
included in the numerator of the apportionment factor  determined  under
section  two  hundred ten-A OF THIS ARTICLE for the taxable year, EXCEPT
THAT FOR CORPORATIONS ENGAGED PRIMARILY  IN  FARMING,  COMMERCIAL  HORSE
BOARDING, OR PROVIDING AGRICULTURAL SERVICES, THE TERM NEW YORK RECEIPTS
SHALL REFER TO NET FARM INCOME AS REPORTED FOR FEDERAL TAX PURPOSES.
  S 3. This act shall take effect immediately.

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Senate Bill S2312

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

May 5, 2015 - Investigations And Government Operations Committee Vote

Investigations And Government Operations Committee Vote: May 5, 2015

May 19, 2015 - Finance Committee Vote

Finance Committee Vote: May 19, 2015

co-Sponsors

2015-S2312 (ACTIVE) - Details

2015-S2312 (ACTIVE) - Summary

2015-S2312 (ACTIVE) - Sponsor Memo

2015-S2312 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S2312

Share this bill

Sponsored By

Patty Ritchie

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

co-Sponsors

Rich Funke

Patrick M. Gallivan

Kathleen A. Marchione

Michael H. Ranzenhofer

2015-S2312 (ACTIVE) - Details

2015-S2312 (ACTIVE) - Summary

2015-S2312 (ACTIVE) - Sponsor Memo

2015-S2312 (ACTIVE) - Bill Text download pdf

Comments