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Who cares
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Sponsors
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History
- Referred to investigations and government operations
- Referred to rules
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend chapter 57 of the laws of 2009 amending the tax law relating to the annual information return providing the information about transactions with vendors, in relation to delaying the implementation of filing provisions
Purpose
This legislation delays the implementation of certain filing requirements relating to annual information returns providing information about transactions with vendors
Summary of provisions
Amends Section 3 of subpart G of part V-1 of chapter 57 of the laws of 2009 of the Tax Law to delay the implementation of certain filing requirements relating to annual information returns providing information about transactions with vendors.
Justification
Chapter 57 of the Laws of 2009 amends provisions of the tax law to require alcoholic beverage wholesalers, including the small, family owned beer wholesaler/retailers to file detailed electronic information tax returns beginning September 20, 2009. The law requires wholesalers to provide for every vendor to which they sell alcoholic beverages without collecting sales tax, the vendor's name, address. phone number, DBA, SLA license number, federal EIN (or SSAN if a sole proprietorship), NY State Sales Tax ID number, and total monthly amount of sales of alcoholic beverages. Penalties for non-compliance are severe (fines up to 510,000 and possible loss of license).
The law imposes complex and expensive requirements with little or no time for businesses to prepare to comply, many of which will need to hire and train extra staff, and purchase computer hardware and software to meet the requirements. These businesses need additional time to ensure compliance. This one year extender accomplishes this goal.
Legislative history
New bill.
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.