Bill Text: NY A10196 | 2023-2024 | General Assembly | Introduced

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Bill Title: Authorizes distributors of cannabis products to file electronic returns annually instead of quarterly.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-05-10 - referred to ways and means [A10196 Detail]

Download: New_York-2023-A10196-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10196

                   IN ASSEMBLY

                                      May 10, 2024
                                       ___________

        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Lupardo) --
          read once and referred to the Committee on Ways and Means

        AN ACT to amend the tax law, in relation to authorizing distributors  of
          cannabis products to file annual returns electronically

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1.  Subdivision (a) of section 495 of the tax law, as added by
     2  chapter 92 of the laws of 2021, is amended to read as follows:
     3    (a) Every person on whom tax is imposed under this article  shall,  on
     4  or before the twentieth day of the month following each quarterly period
     5  ending  on  the last day of February, May, August, and November, respec-
     6  tively, file electronically with the commissioner a return on  forms  to
     7  be  prescribed  by the commissioner, showing the total amount of tax due
     8  in such quarterly period, and including such other  information  as  the
     9  commissioner may require; provided, however, that a distributor for whom
    10  tax is imposed pursuant to this article may elect to file electronically
    11  with  the commissioner for an annual period instead of a quarterly peri-
    12  od.  If a distributor elects to file electronically for an annual  peri-
    13  od,  the  distributor shall file electronically before the twentieth day
    14  of the month following each year ending on the last day of December in a
    15  manner prescribed by the commissioner.
    16    § 2.  This act shall take effect immediately.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15460-01-4