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Sponsors
2 Co-sponsors
History
- Print number 4723a
- Amend and recommit to investigations and government operations
- 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.
Relates to the state sales and compensating use tax on the retail sales of motor fuel and diesel motor fuel
In Assembly Committee · Ways And Means · Sponsor Fred Thiele
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 state sales and compensating use tax on the retail sales of motor fuel and diesel motor fuel
Purpose
This legislation would change the way that the State sales tax on motor fuel and diesel motor fuel is calculated.
Summary of provisions
Section 1. Subdivision m of Section 1111 of the tax law is amended with respect to the State sales and compensating use tax on the retail sales of motor fuel and diesel motor fuel.
Section 2. Effective date.
Justification
In 2006, the State Legislature changed the way that the sales tax on gasoline was calculated from four percent (4%) of the retail purchase price to a flat 8 cents a gallon. The well-meaning intent of the law was to cap the tax so that the State would not get a windfall when prices rose to $4.00 or $5.00 a gallon.
At a base price of $2.00 a gallon, the former 4% rate yields the current 8 cents per gallon.Currently, the base price for motor fuel is trending lower than $2.00 a gallon. This, of course, is a long overdue and welcome relief for taxpayers throughout the State. However, between federal, state and local taxes, New Yorkers continue to pay the highest gasoline taxes in the nation.
Amendments to the provisions of subdivision m of Section 1111 of the Tax law are necessary to provide that the state sales and compensating use tax on retail sales of motor fuel and diesel motor fuel can be more readily and easily be calculated at a rate of 8 cents a gallon, or revert back to the former 4%, whichever is less.This fluctuation in the way the rate is calculated would certainly ensure that regardless of swings in gasoline prices, consumers would be treated fairly and also reap the benefits of lower taxes.
Legislative history
2015: New Legislation
Fiscal implications
To be determined
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.