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History
- Print number 4280a
- Amend and recommit to investigations and government operations
- Referred to investigations and government operations
- Reported and committed to finance
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Increases the exemption from the sales and use tax for food and beverages sold from vending machines
In Assembly Committee · Ways And Means · Sponsor William Magee
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to the sale of food and beverages through vending machines
Purpose
The purpose of this legislation is to amend the tax law to exempt food and beverages sold through vending machines from New York State sales tax up to $1.50 (it is currently $.75).
Summary of provisions
Section one details the specific food and beverage items that would be exempt from New York State sales tax if sold through any vending machines activated by the use of coin, currency, credit card or debit card. The tax law is amended from an exemption for said food and beverage items sold for seventy-five cents or less to a total exemption from New York State sales tax.
Section two relates to the effective date.
Justification
In 2000, the Legislature exempted food and beverage items sold in vending machines for seventy five cents or less from New York State sales tax as a way to help the vending machine industry remain competitive with over the counter sales. Today, there are very few items sold in vending machines that cost 75 cents or less. These increases in product costs combined with the increased operating costs have made the value of the 75-cent exemption minimal. By increasing that exemption to $1.50 we will ensure that consumers continue to have access to products through the convenience of vending machines as well as through over the counter sales.
Legislative history
New bill.
Fiscal implications
It is estimated that this tax exemption will decrease state revenue by approximately $3.1 million annually.
Effective date
This act shall take effect June 1, 2011, except that Section Two of this act shall take effect December 1, 2011.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.