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NY A08480

Bill

Official Source

Status

Introduced

10/9/2015

Primary Sponsor

Michelle Schimel

Click for details

Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Creates a sales and use tax exemption for tangible personal property manufactured and sold by veterans as defined in New York Executive Law Section 364
  • Exemption applies only when the veteran or household member does not conduct a trade or business selling similar items
  • Limits the exemption to the first $2,500 of receipts from such sales in a calendar year
  • Property must be sold for the benefit of a veteran's service organization to qualify
  • Effective on the first day of a quarterly sales tax period occurring at least 30 days after the bill becomes law

Legislative Description

Provides an exemption from sales and use taxes for certain personal property manufactured and sold by veterans.

Last Action

substituted by s4986

6/16/2016

Committee Referrals

Rules6/16/2016
Ways and Means10/9/2015

Full Bill Text

No bill text available