Bill Text: NY S09359 | 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 2-0)

Status: (Introduced) 2024-06-06 - SUBSTITUTED BY A10196 [S09359 Detail]

Download: New_York-2023-S09359-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9359

                    IN SENATE

                                      May 14, 2024
                                       ___________

        Introduced  by  Sens. COONEY, HINCHEY -- read twice and ordered printed,
          and when printed to be committed to the  Committee  on  Investigations
          and Government Operations

        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