This table compares the major business-related revenue
measures included in the Executive Budget with the revenue
bill included in the Assembly budget proposal. Unless otherwise
noted, all Assembly provisions are in A.9810-B.
| BILL & SECTION |
ISSUE |
PROJECTED IMPACT |
ASSEMBLY ACTION
IN A.9810-B |
| NA |
Increase PIT rate to 7.7% for portions of incomes
over $1 million (thru tax year 2012) |
$1.5 billion annually |
PROPOSED IN PART U |
| S6810/A9810, Part R |
Four year extension of MTA surcharges for Article
9, 9-A, 32 and 33 taxpayers |
Approximately $892 million in continued revenues |
ACCEPTED - PART J |
| S6810/A9810, Part K |
Subjects for-profit HMOs taxation to Article 33 premium
tax |
-$269 million in FY 2009
-$310 million in FY 2010 |
ACCEPTED - PART D |
| S6810/A9810, Part J |
-Reduces Article 9-A capital base rate to 0.15%
-Eliminate the $1 million cap on capital base calculation
of Article 9-A (for non-mnfg) |
-$98 million in FY 2009
-$70 million in FY 2010 |
REJECTED |
| S6810/A9810, Part Y |
Establish nexus for credit card companies based on
number of customers or level of receipts in NY |
-$95 million in FY 2009
-$75 million in FY 2010 |
ACCEPTED - PART V
HOWEVER, AMENDED TO PRECLUDE INCLUSION IN COMBINED REPORTS
|
| S6810/A9810, Part V |
Increase first installment of MTA surcharge payment
to 30% (FY 2009 only) |
$100million (FY 2009 only) |
ACCEPTED - PART K |
| S6810/A9810, Part X |
Creates sales tax nexus for vendors compensating NY
residents for sales leads |
-$43 million in FY 2009
-$73 million in FY 2010 |
ACCEPTED - PART M |
| S6810/A9810, Part S |
-Repeals organization tax (Section 210)
-Amends fees and taxes for LLCs & partnerships
-Modifies Article 9-A fixed dollar minimum tax |
-$75 million annually |
LARGELY ACCEPTED - PART S; EXCLUDED REDUCTION IN ANNUAL
"MAINTENANCE" FEE |
| NA |
Allows expiration of ITC for financial Service industry
(Articles 9-A & 32) |
-$35 million in FY 2009
-$75 million in FY 2010 |
PART T - EXTENDS ITC THROUGH 10/1/2010 |
| S6810/A9810, Part I |
Decouple from federal qualifying production activity
income deduction |
$56 million in FY 2009 and 2010 |
ACCEPTED - PART C |
| S6810/A9810, Part H |
Restructure and integrate existing motor fuel taxes
(PBT, sales tax, fuel tax) |
-$13 million in FY 2009
-$55 million in FY 2010 |
REJECTED |
| S6810/A9810, Part Z |
-Creates statutory incentives to report deficiencies
file returns
-modifies certain enforcement provisions
-allows Commissioner to mandate electronic submissions
-updates sales tax registrations |
$50 million+ annually |
PARTIALLY ACCEPTS - PART Y; REJECTS NEW PENALTY &
ENFORCEMENT PROVISIONS |
| S6810/A9810, Part C |
-Creates new tax rate for flavored malt liquor
-Authorizes NYC to impose tax |
$15 million annually |
REJECTED |
| |
|
|
|
| S6810/A9810, Part T |
Includes gains from sale of partnerships as NY source
income if gains are from sale of NY property |
$10 million annually |
ACCEPTED - PART X |
| S6810/A9810, Part F |
Repeals private label credit card bad debt write-off |
-$9 million in FY 2009
-$7 million in FY 2010 |
REJECTED |
| S6810/A9810, Part L |
Apply sales tax to additional "remote" and auction
sales by not-for-profits |
-$7.5 million in FY 2009
-$15 million in FY 2010 |
ACCEPTED - PART E |
| S6810/A9810, Part EE |
-Eliminates sales & use tax exemption of aircraft
purchased for prime purpose of transporting personnel
of a business and/or affiliates
- eliminates new resident exemption for sales & use
taxes for aircraft, vessel or vehicle purchased out-of-state
by a business entity for in-state use |
-$4 million in FY 2009
-$6.3 million in FY 2010 |
ACCEPTED - PART R |
| S6810/A9810, Part U |
-Modifies combined reporting requirements for REITs
& RICs
- creates 50% stock ownership threshold for defining
a captive REIT and RIC |
No new revenues projected; Propose changes will "preserve"
revenues included in state financial plan |
REJECTED |
| S6810/A9810, Parts D & E |
Modifies eligibility for, restructures, and imposes
caps on brownfield remediation and redevelopment tax
credits |
No estimate provided; projected "substantial savings"
in future fiscal years |
REJECTED |
| S6810/A9810, Part W |
Increases and amends the Film Production Tax Credit |
-$5 million tax savings in FY 2009
-$15 million in tax savings in FY 2010 |
ACCEPTED - PART L |
| S6810/A9810, Part BB |
Extends NYC's authority to impose 4% sales tax |
Continuation of current revenues |
ACCEPTED - PART P |
| S6808/A9808, Part B |
Increase HCRA taxes (covered life assessment) |
$140 million per year |
ACCEPTED - A9808-B, Part B |
| S6809/A9809, Part GG |
Expand "bottle bill" to most non-carbonated beverages;
state capture of unclaimed deposits |
-$25 million in FY 2009
$100 million in FY 2010 |
ACCEPTED - A9809-B, Part GG |
| S6806/A9806, Part P |
-Authorizes increase in county clerk fees
-includes mobile phones in local utility GRTs |
-$70 million for counties and $27 million for NYC
from recording fees
-$8 million in utility GRT |
REJECTED GRT CHANGES |
| S6806/A9806, Part T |
Authorize increase in real property transfer fees
for commercial properties over $175,000 |
$30 million annually |
ACCEPTED - A9806, Part T |
| S6806/A9806, Part H |
Extension/expansion of wireless surcharges |
$20 million |
REJECTED |
| S6809/A9809, Part EE |
Increases cap on Title V air permits to $80 per ton;
eliminate 6000 ton per contaminant cap |
Up to $19 million annually |
REJECTED |
| S6809/A9809, Part U |
Authorizes NYSERDA assessment on gas & electric utilities |
$18 million annually |
ACCEPTED - A9809-B, Part U |
| S6806/A9806, Parts K |
Authorizes nuclear plant security assessments to fund
NYS homeland security programs |
$12 million |
ACCEPTED - A9806-B, Parts K |
| S6809/A9809, Part S |
Authorizes annual utility and cable TV assessments |
None provided |
ACCEPTED - A9809-B, Part S |
