Eliminates a number of filing fees imposed on businesses by the department of state pursuant to the business corporation law, the executive law and the not-for-profit corporation law; eliminates fees related to start up, merger, consolidation or dissolution of a corporation.

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S4429A-2011 Actions

• Apr 17, 2012: REPORTED AND COMMITTED TO FINANCE
• Jan 17, 2012: PRINT NUMBER 4429A
• Jan 17, 2012: AMEND AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
• Jan 4, 2012: REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
• May 18, 2011: REPORTED AND COMMITTED TO FINANCE
• Apr 5, 2011: REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

S4429A-2011 Meetings

Corporations, Authorities and Commissions: Apr 17, 2012

S4429A-2011 Votes

S4429A-2011 Memo

BILL NUMBER:S4429A

TITLE OF BILL:
An act
to repeal certain provisions of the business corporation law, the
executive law and the not-for-profit corporation law, in relation
to certain fees collected by the department of state

PURPOSE OR GENERAL IDEA OF BILL:
To relieve businesses from the
"hidden" taxes associated with fees required for various
administrative filings with the state.

SUMMARY OF SPECIFIC PROVISIONS:
This legislation will repeal certain
filing fees paid to the Secretary of State, related to the start up,
merger, consolidation or dissolution of a corporation under the
Business Corporation Law, the Executive Law and the Not-For-Profit
Corporation Law.

JUSTIFICATION:
Currently, businesses in New York State are hampered by
the high cost of doing business in New York. One problem area
recognized by business is the number of "small" filing fees imposed
by the state for which no service is received in return, the
so-called "nickel and dime" fees. These fees were initially enacted
to cover the costs involved in processing and storing the forms.
However, the business receives no benefit from paying these fees. The
only benefit is revenue to the state. Therefore, these fees are
nothing but an additional tax on the business community. To that end,
fees will be eliminated in instances where the business receives no
benefit from the fee paid.

PRIOR LEGISLATIVE HISTORY:
2009-2010: S.6689/A.1757 CORPS/Corporations
2011:      S.4429/A.1760 -- FINANCE/Corporations

FISCAL IMPLICATIONS:
The elimination of these fees will result in a
loss of revenue to the state of approximately $8 to $10 million.

EFFECTIVE DATE:
January 1, 2014.

S4429A-2011 Text

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

                                   4429--A

                         2011-2012 Regular Sessions

                              I N  SENATE

                                April 5, 2011
                                 ___________

  Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
    when printed to be committed to the Committee on Corporations, Author-
    ities and Commissions -- recommitted to the Committee on Corporations,
    Authorities and Commissions in accordance with Senate Rule 6,  sec.  8
    --  committee  discharged,  bill amended, ordered reprinted as amended
    and recommitted to said committee

  AN ACT to repeal certain provisions of the business corporation law, the
    executive law and the not-for-profit corporation law, in  relation  to
    certain fees collected by the department of state

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


    Section 1. Paragraphs (d), (e), (f), (g), (h),  (i),  (j),  (k),  (l),
  (m),  (n),  (o),  (p), (q), (r) and (s) of section 104-A of the business
  corporation law are REPEALED.
    S 2. Subdivisions 9 and 12 of section 96  of  the  executive  law  are
  REPEALED.
    S 3. Paragraphs (a), (e), (f), (g), (h), (i), (j), (k), (l), (m), (n),
  (o), (p), (q), (r) and (s) of section 104-A of the not-for-profit corpo-
  ration law are REPEALED.
    S 4. This act shall take effect January 1, 2014.




   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD05706-02-2