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- Referred to investigations and government operations
Full text
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Sponsor's memo
BILL NUMBER:S2109
Title of bill
An act to amend the tax law, in relation to providing for refund of or credit against petroleum business taxes, for sales on accounts included in gross receipts and ascertained to be uncollectible
Purpose of bill
The purpose of this legislation is to amend the tax law to conform the petroleum business tax to the sales tax regarding uncollected accounts.
Summary of provisions
This bill adds section 304 to the tax law.
Justification
This legislation will amend the tax law to provide for a refund or credit to petroleum vendors for petroleum business taxes paid by the vendors who are then unable to recoup the taxes from the consumer because the account becomes uncollectible. Under current law, vendors of petroleum presently receive refunds of or credits against sales taxes on uncollected accounts. This legislation will allow for that same procedure for the petroleum business tax. Fairness dictates that the same procedure should be available with regard to uncollectible petroleum business taxes.
Fiscal implications
This legislation has little or no fiscal implications.
Effective date
September first following enactment.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.