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NY A09035
Bill
Status
Introduced
1/17/2012
Primary Sponsor
Robert Reilly
Click for details
AI Summary
- Defines "gift certificate" as a writing or card (including electronic or magnetic cards) with a banked dollar value redeemable for goods or services, excluding pre-paid phone cards
- Classifies gift certificates, electronic gift cards, and magnetic gift cards as tangible personal property subject to sales tax
- Exempts purchases made with gift certificates, electronic gift cards, or magnetic gift cards from sales tax
- Becomes effective on the first day of a quarterly sales tax period occurring at least 30 days after the bill becomes law
Legislative Description
Imposes sales tax at the time of the sale of a gift certificate and exempts purchases made with a gift certificate.
Last Action
held for consideration in ways and means
6/19/2012
Committee Referrals
Ways and Means1/17/2012
Full Bill Text
No bill text available