NY State Senate Bill 2013-S3624A

Senate Bill S3624A

2013-2014 Legislative Session

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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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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Feb 10, 2014	print number 3624a
Feb 10, 2014	amend and recommit to investigations and government operations
Jan 08, 2014	referred to investigations and government operations
Feb 07, 2013	referred to investigations and government operations

Bill Amendments

Original

A (Active)

co-Sponsors

2013-S3624 - Details

See Assembly Version of this Bill:: A4888
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §801, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S6330, A9314
2015-2016: S4616

2013-S3624 - Summary

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

2013-S3624 - Sponsor Memo

2013-S3624 - Bill Text download pdf

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

                                  3624

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 7, 2013
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

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.  Paragraph  2  of subsection (a) of section 801 of the tax
law, as amended by section 1 of part N of chapter  59  of  the  laws  of
2012, is amended to read as follows:
  (2)  For  individuals,  the  tax  is  imposed at a rate of thirty-four
hundredths (.34) percent of the net  earnings  from  self-employment  of
individuals that are attributable to the MCTD if such earnings attribut-
able  to  the MCTD exceed ONE MILLION TWO HUNDRED fifty thousand dollars
for the tax year.
  S 2. This act shall take effect April 1, 2014.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05529-01-3

co-Sponsors

2013-S3624A (ACTIVE) - Details

See Assembly Version of this Bill:: A4888
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §801, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S6330, A9314
2015-2016: S4616

2013-S3624A (ACTIVE) - Summary

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

2013-S3624A (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S3624A

TITLE OF BILL:  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

PURPOSE:

Exempts the first $1,250,000 of earnings from self-employment during
any tax year, from the Metropolitan Commuter Transportation Mobility
Tax in any calendar quarter.

SUMMARY OF SPECIFIC PROVISIONS:

Section one amends subsection (a) of section 801 of the tax law, as
amended by section 1 of part N of chapter 59 of the laws of 2012.

Section two is the effective date.

JUSTIFICATION:

This measure would create parity, for the self-employed, who still
have to pay the Metropolitan Commuter Transportation Mobility Tax
(MCTMT). Enactment of Chapter 56 of the Laws of 2011 eliminated this
tax for employers with payroll expenses less than $312,500. This tax

poses both a financial and administrative burden on New York's
self-employed, Currently, the self-employed pay a rate of .34% for
earnings exceeding $50,000.

Self-employed individuals pay their taxes as quarterly estimated taxes
throughout the year. This includes the self-employment tax, social
security and Medicare tax, at a rate of 15.3%. The year is divided
into four payment periods with specific due dates and penalties if
payments are made late. The MCTMT also has a quarterly tax due dates
but they do not correspond to the already established ones. This
creates a greater administrative burden for the individual and may
cause high accounting fees for those who are able to afford an
accountant.

This bill would level the playing field by treating the self-employed
with those employers with payroll expenses less than $312,500 in any
calendar quarter.

LEGISLATIVE HISTORY:

2013: referred to Investigations and Government Operations
2012: S.6330 - Referred to Investigations/A.9314 - Referred to Ways
and Means.

FISCAL IMPLICATIONS:

The Department of Taxation and Finance estimates that this proposal
will result in a $63 million revenue loss beginning in SFY 2013-14 and
$90 million in SFY 2014-15.

EFFECTIVE DATE:


This act shall take effect April 1, 2015.

2013-S3624A (ACTIVE) - Bill Text download pdf

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

                                 3624--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 7, 2013
                               ___________

Introduced  by  Sens. LANZA, SQUADRON -- read twice and ordered printed,
  and when printed to be committed to the  Committee  on  Investigations
  and  Government Operations -- recommitted to the Committee on Investi-
  gations and Government Operations in accordance with  Senate  Rule  6,
  sec.  8  --  committee  discharged, bill amended, 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.  Paragraph  2  of subsection (a) of section 801 of the tax
law, as amended by section 1 of part N of chapter  59  of  the  laws  of
2012, is amended to read as follows:
  (2)  For  individuals,  the  tax  is  imposed at a rate of thirty-four
hundredths (.34) percent of the net  earnings  from  self-employment  of
individuals that are attributable to the MCTD if such earnings attribut-
able  to  the MCTD exceed ONE MILLION TWO HUNDRED fifty thousand dollars
for the tax year.
  S 2. This act shall take effect April 1, 2015.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05529-02-4

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Senate Bill S3624A

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Sponsored By

Andrew J. Lanza

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

Bill Amendments

co-Sponsors

Daniel L. Squadron

2013-S3624 - Details

2013-S3624 - Summary

2013-S3624 - Sponsor Memo

2013-S3624 - Bill Text download pdf

co-Sponsors

Daniel L. Squadron

2013-S3624A (ACTIVE) - Details

2013-S3624A (ACTIVE) - Summary

2013-S3624A (ACTIVE) - Sponsor Memo

2013-S3624A (ACTIVE) - Bill Text download pdf

Comments