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Who cares
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Sponsors
2 Co-sponsors
History
- Referred to investigations and government operations
- 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.
Provides that issuers of debit and credit cards shall pay sales and use taxes directly to the commissioner of taxation and finance
In Assembly Committee · Ways And Means · Sponsor Brian Kavanagh
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S785
Title of bill
An act to amend the tax law, in relation to requiring issuers of credit cards and debit cards to pay and collect sales and use taxes and pay such taxes to the commissioner of taxation and finance
Purpose
Provides that issuers of debit and credit cards shall pa sales and use taxes directly to the Commissioner of Taxation and Finance
Summary of provisions
Section 1. Amends the Tax Law by adding a new section 1168. Requires processors of credit and or debit card to collect and pay taxes directly to the Commissioner of Taxation and Finance.
Section 2. Effective Date.
Existing law
None.
Justification
A major source of failure to comply with New York State sales taxes being remitted to the state from vendors, who collect such taxes from their customers, is the current system which relies solely upon the thousands of vendors to voluntarily remit such sales taxes. New York State cannot possibly audit every vendor and the vendors know this. But the processors which are paid by vendors to deal with the issuers of credit and or debit cards, and who actually get the monies from the credit card issuers, are far less numerous. They know the true sales and actually get money from the credit card companies which includes the sales taxes. It is more efficient to have these processors remit the sales taxes directly to New York state instead of sending the taxes back to the vendors and then relying upon the vendors to timely and accurately submit the sales taxes.
Legislative history
2012: S.347 - Referred to Investigations and Government Operations/A.156- Referred to Ways and Means 2011: S.347 - Defeated in Investigations and Government Operations/A.156 - Referred to Ways and Means 2010: S.2550A - Notice of Committee Consideration Requested/A.7674A - Referred to Ways and Means 2009: S.2550A - Tabled/A.7674A - Amend and Recommit to Ways and Means 2008: S.774/Referred to Investigations and Government Operations/ A.9991 - Referred to Ways and Means 2007: S.774 Referred to Investigations and Government Operations 2005-06: S.827 Referred to Investigations and Government Operations 2003-04: S.4362 Referred to Investigations and Government Operations
Effective date
This law shall take effect on the first of October next succeeding the date on which it shall have become a law, with provisions.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.