Bill Text: NY S02648 | 2013-2014 | General Assembly | Introduced

---

Bill Title: Limits imposition of the metropolitan commuter transportation tax on self-employment earnings to annual earnings over $250,000, and establishes tax rates for the taxation of such earnings.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2014-06-10 - referred to ways and means [S02648 Detail]

Download: New_York-2013-S02648-Introduced.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2648
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   January 23, 2013
                                      ___________
       Introduced  by  Sen.  BALL  --  read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations
       AN ACT to amend the tax law, in relation to  the  metropolitan  commuter
         transportation mobility tax rates on earnings from self-employment
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph 2 of subsection (a) of section  801  of  the  tax
    2  law,  as  amended  by  section  1 of part N of chapter 59 of the laws of
    3  2012, is amended to read as follows:
    4    (2) For individuals[, the tax is imposed  at  a  rate  of  thirty-four
    5  hundredths (.34) percent of the] WITH net earnings THAT ARE ATTRIBUTABLE
    6  TO  THE  MCTD from self-employment of individuals [that are attributable
    7  to the MCTD] if such  earnings  attributable  to  the  MCTD  exceed  TWO
    8  HUNDRED fifty thousand dollars for the tax year, THE TAX IS IMPOSED AT A
    9  RATE  OF  (A)  ELEVEN  HUNDREDTHS (.11) PERCENT OF THE NET EARNINGS FROM
   10  SELF-EMPLOYMENT IF SUCH EARNINGS ATTRIBUTABLE TO THE  MCTD  ARE  GREATER
   11  THAN  TWO HUNDRED FIFTY THOUSAND DOLLARS BUT DO NOT EXCEED THREE HUNDRED
   12  THOUSAND DOLLARS IN ANY TAX  YEAR,  (B)  TWENTY-THREE  HUNDREDTHS  (.23)
   13  PERCENT  OF  THE  NET  EARNINGS  FROM  SELF-EMPLOYMENT  IF SUCH EARNINGS
   14  ATTRIBUTABLE TO THE MCTD ARE GREATER THAN THREE HUNDRED THOUSAND DOLLARS
   15  BUT DO NOT EXCEED THREE HUNDRED FIFTY THOUSAND DOLLARS IN ANY TAX  YEAR,
   16  AND  (C)  THIRTY-FOUR  HUNDREDTHS (.34) PERCENT OF THE NET EARNINGS FROM
   17  SELF-EMPLOYMENT IF SUCH EARNINGS ATTRIBUTABLE TO THE  MCTD  ARE  GREATER
   18  THAN THREE HUNDRED FIFTY THOUSAND DOLLARS IN ANY TAX YEAR.
   19    S  2.  This act shall take effect on the first of July next succeeding
   20  the date on which it shall have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07360-01-3