Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 08, 2016 |
print number 3016a |
Feb 08, 2016 |
amend and recommit to investigations and government operations |
Jan 06, 2016 |
referred to investigations and government operations |
Feb 02, 2015 |
referred to investigations and government operations |
Senate Bill S3016A
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
Bill Amendments
co-Sponsors
(R, C, IP) Senate District
(R, C) 60th Senate District
(R, C, IP) 62nd Senate District
(R, C, IP) Senate District
2015-S3016 - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§658 & 210, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S2482
2011-2012: S846
2013-2014: S2684
2017-2018: S445
2015-S3016 - Sponsor Memo
BILL NUMBER:S3016 TITLE OF BILL: An act to amend the tax law, in relation to limited liability company fees and business corporation franchise taxes for farms and commercial horse boarding operations PURPOSE: To exempt farm or commercial horse boarding operations from limited liability filing fees and certain business franchise taxes. SUMMARY OF PROVISIONS: This legislation amends the Tax law to exempt farm operations from filing fees for limited liability (LLC) and S corporations. JUSTIFICATION: In recently enacted state budgets, LLC and S corporation filing fees increases were proposed which negatively impacted farms. These fees were increased incrementally as a LLC or S corporation's total gross income, or New York receipts, reached certain thresholds. This legislation would mitigate the financial burden from these filing fee increases for farm operations by using net farm income as reported for federal tax purposes to determine New York receipts. Because New
2015-S3016 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3016 2015-2016 Regular Sessions I N S E N A T E February 2, 2015 ___________ Introduced by Sens. YOUNG, BONACIC, GALLIVAN, RANZENHOFER -- 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 limited liability company fees and business corporation franchise taxes for farms and commercial horse boarding operations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subsection (c) of section 658 of the tax law, as amended by section 1 of part H-1 of chapter 57 of the laws of 2009, subparagraph (A) as amended by section 18 of part U of chapter 61 of the laws of 2011, is amended to read as follows: (3) Filing fees. (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 OR COMMERCIAL HORSE BOARDING OPERATIONS, WHICH SHALL, WITHIN ONE HUNDRED TWENTY DAYS AFTER THE LAST DAY OF THE TAXABLE YEAR, MAKE PAYMENT OF A 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 entities for federal income tax purposes must pay a filing fee of twenty-five dollars for taxable years beginning on or after Janu- ary 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. LBD06021-01-5
co-Sponsors
(R, C, IP) Senate District
(R, C) 60th Senate District
(R, C, IP) 62nd Senate District
(R, C, IP) Senate District
2015-S3016A (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§658 & 210, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S2482
2011-2012: S846
2013-2014: S2684
2017-2018: S445
2015-S3016A (ACTIVE) - Sponsor Memo
BILL NUMBER: S3016A TITLE OF BILL : An act to amend the tax law, in relation to limited liability company fees and business corporation franchise taxes for farms and commercial horse boarding operations PURPOSE : To exempt farm or commercial horse boarding operations from limited liability filing fees and certain business franchise taxes. SUMMARY OF PROVISIONS : This legislation amends the Tax law to exempt farm operations from filing fees for limited liability (LLC) and S corporations. JUSTIFICATION : In recently enacted state budgets, LLC and S corporation filing fees increases were proposed which negatively impacted farms. These fees were increased incrementally as a LLC or S corporation's total gross income, or New York receipts, reached certain thresholds. This legislation would mitigate the financial burden from these filing fee increases for farm operations by using net farm income as reported for federal tax purposes to determine New York receipts. Because New
2015-S3016A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3016--A 2015-2016 Regular Sessions I N S E N A T E February 2, 2015 ___________ Introduced by Sens. YOUNG, BONACIC, GALLIVAN, ORTT, RANZENHOFER -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- recommitted to the Committee on Investigations and Government Operations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the tax law, in relation to limited liability company fees and business corporation franchise taxes for farms and commercial horse boarding operations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subsection (c) of section 658 of the tax law, as amended by section 1 of part H-1 of chapter 57 of the laws of 2009, subparagraph (A) as amended by section 18 of part U of chapter 61 of the laws of 2011, subparagraph (E) as added by section 13 of part S of chapter 59 of the laws of 2015, is amended to read as follows: (3) Filing fees. (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 OR COMMERCIAL HORSE BOARDING OPERATIONS, WHICH SHALL, WITHIN ONE HUNDRED TWENTY DAYS AFTER THE LAST DAY OF THE TAXABLE YEAR, MAKE PAYMENT OF A 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 entities for federal income tax purposes must pay a filing EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06021-02-6
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. 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.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.