Bill Text: NY A04607 | 2019-2020 | General Assembly | Introduced

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Bill Title: Increases the threshold of employer's withheld taxes.

Spectrum: Partisan Bill (Republican 7-0)

Status: (Introduced - Dead) 2020-07-17 - held for consideration in ways and means [A04607 Detail]

Download: New_York-2019-A04607-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          4607
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 4, 2019
                                       ___________
        Introduced by M. of A. B. MILLER, FINCH, HAWLEY, KOLB -- Multi-Sponsored
          by  --  M. of A. BLANKENBUSH, GOODELL -- read once and referred to the
          Committee on Ways and Means
        AN ACT to amend the tax law, in relation to increasing the threshold for
          employer's return and payment of withheld taxes
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Paragraphs 1 and 2 of subsection (a) of section 674 of the
     2  tax law, paragraph 1 as added by chapter 166 of the  laws  of  1991  and
     3  paragraph  2  as amended by chapter 477 of the laws of 1998, are amended
     4  to read as follows:
     5    (1) If, after having made a payroll, an employer has been required  to
     6  deduct  and  withhold,  but  has  not  paid over, a cumulative aggregate
     7  amount of [seven hundred] one thousand dollars or more of tax  during  a
     8  calendar  quarter,  such  employer  shall file a return and pay over the
     9  tax. If an employer was required to remit a cumulative aggregate  amount
    10  of  less  than  fifteen  thousand  dollars in withholding tax during the
    11  calendar year which precedes the previous calendar year, the  tax  shall
    12  be  paid  over on or before the fifth business day following the date of
    13  making such a payroll. If an employer was required to remit a cumulative
    14  aggregate amount more than or equal to fifteen thousand dollars in with-
    15  holding tax during the calendar year which precedes the previous  calen-
    16  dar year, the tax shall be paid over on or before the third business day
    17  following  the  date of making such a payroll. In the case of an "educa-
    18  tional organization" as defined in paragraph two of  subsection  (a)  of
    19  section  nine  of this chapter or a "health care provider" as defined in
    20  paragraph four of subsection (a) of section nine of  this  chapter,  the
    21  tax shall be paid over on or before the fifth business day following the
    22  date of making such a payroll.
    23    (2)  If,  at  the  close of any calendar quarter, an employer has been
    24  required to deduct and withhold, but has not  paid  over,  a  cumulative
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06582-01-9
        A. 4607                             2
     1  aggregate  amount  of  less than [seven hundred] one thousand dollars of
     2  tax during such calendar quarter, such employer shall pay over  the  tax
     3  with the quarterly combined withholding, wage reporting and unemployment
     4  insurance return required to be filed for such quarter by paragraph four
     5  of  this subsection, on or before the last date prescribed by such para-
     6  graph for filing such return.
     7    § 2. This act shall take effect January 1, 2020, and  shall  apply  to
     8  all taxes required to be deducted and withheld on and after such date.