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NY A06588

Bill

Official Source

Status

Introduced

3/6/2009

Primary Sponsor

Daniel Burling

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Origin

Assembly

2009-2010 General Assembly

AI Summary

  • Makes permanent provisions of chapters 298 (1985), 817 (1987), and 525 (1988) relating to franchise tax on banking corporations by eliminating January 1, 2010 expiration dates
  • Removes sunset provisions that would have terminated certain tax provisions for banking corporations and savings banks/loan associations after December 31, 2009
  • Continues to apply alternative minimum tax provisions measured by taxable assets to all taxpayers indefinitely
  • Effective immediately upon enactment

Legislative Description

Eliminates expiration of and makes permanent the provisions of the tax law authorizing the imposition by city of New York of a franchise tax on banking corporations.

Last Action

held for consideration in ways and means

7/1/2010

Committee Referrals

Ways and Means3/6/2009

Full Bill Text

No bill text available