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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to investigations and government operations
- Referred to investigations and government operations
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 exempting a taxpayer from paying personal income tax under certain circumstances
Purpose
This bill would exempt a taxpayer from paying personal income tax when the tax due is equal to or less than $1.00
Summary of provisions
Section 1: amends section 651 of the tax law adding a new subsection (h-1) exempts an individual from paying personal income tax if the amount due and owing is equal to or less than $1.00.
Existing law
Currently, there is no exemption when the amount owed the state is less than or equal to a nominal amount such as $1.00.
Justification
Currently, the tax department sends out notices when any amount of tax may be due or owing to the State. One Rochester area resident received two separate notices for $.07 and $.28. The Department of Taxation and Finance spent $.84 to send two pieces of mail to collect $.35. This is just one example. Since there is no exemption for taxation due under a dollar it is possible that the State is losing more money than they are collecting by not adjusting this policy.
Legislative history
new legislation
Fiscal implications
to be determined
Effective date
immediately
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.