Senate Bill S4003

2015-2016 Legislative Session

Provides an exemption for certain tangible property or services from the sales and compensating use tax

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Sponsored By

Archive: Last Bill Status - Stricken


  • 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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2015-S4003 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §1115, Tax L

2015-S4003 (ACTIVE) - Summary

Provides an exemption for certain tangible personal property or services from the sales and compensating use tax.

2015-S4003 (ACTIVE) - Sponsor Memo

2015-S4003 (ACTIVE) - Bill Text download pdf

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

                                  4003

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 25, 2015
                               ___________

Introduced  by  Sen.  DeFRANCISCO -- 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 providing an exemption for
  certain tangible personal property or  services  from  the  sales  and
  compensating use tax

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 1115 of the tax law is  amended  by  adding  a  new
subdivision (jj) to read as follows:
  (JJ)  TANGIBLE  PERSONAL  PROPERTY OR SERVICES OTHERWISE TAXABLE UNDER
THIS ARTICLE SOLD TO A RELATED PERSON SHALL NOT BE SUBJECT TO THE  TAXES
IMPOSED BY SECTION ELEVEN HUNDRED FIVE OF THIS ARTICLE OR THE COMPENSAT-
ING  USE  TAX  IMPOSED  UNDER SECTION ELEVEN HUNDRED TEN OF THIS ARTICLE
WHERE THE PURCHASER CAN SHOW THAT THE FOLLOWING CONDITIONS HAVE BEEN MET
TO THE EXTENT THEY ARE APPLICABLE: (1)(I) THE VENDOR AND  THE  PURCHASER
ARE REFERENCED AS EITHER A "COVERED COMPANY" AS DESCRIBED IN SUBDIVISION
(F)  OF SECTION 243.2 OR A "MATERIAL ENTITY" AS DESCRIBED IN SUBDIVISION
(L) OF SECTION 243.2 OF TITLE 12 OF THE CODE OF FEDERAL REGULATIONS IN A
RESOLUTION PLAN THAT HAS BEEN SUBMITTED  TO  AN  AGENCY  OF  THE  UNITED
STATES  FOR  THE PURPOSE OF SATISFYING SUBPARAGRAPH ONE OF PARAGRAPH (D)
OF SECTION ONE HUNDRED SIXTY-FIVE OF THE DODD-FRANK WALL  STREET  REFORM
AND  CONSUMER  PROTECTION  ACT (THE "ACT") OR ANY SUCCESSOR LAW, OR (II)
THE VENDOR AND THE PURCHASER ARE SEPARATE LEGAL ENTITIES PURSUANT  TO  A
DIVESTITURE  DIRECTED  PURSUANT TO SUBPARAGRAPH FIVE OF PARAGRAPH (D) OF
SECTION ONE HUNDRED SIXTY-FIVE OF SUCH ACT OR ANY SUCCESSOR LAW; (2) THE
SALE WOULD NOT HAVE OCCURRED BETWEEN SUCH RELATED PERSONS  WERE  IT  NOT
FOR SUCH RESOLUTION PLAN OR DIVESTITURE; AND (3) IN ACQUIRING SUCH PROP-
ERTY  OR  SERVICES,  THE  VENDOR DID NOT CLAIM AN EXEMPTION FROM THE TAX
IMPOSED BY THIS STATE OR ANOTHER STATE BASED ON THE VENDOR'S  INTENT  TO
RESELL  SUCH SERVICES OR PROPERTY. A PERSON IS RELATED TO ANOTHER PERSON

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09471-01-5
              

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