Bill
Bill > A09748
NY A09748
NY A09748Relates to imposing a tax of one-half of one percent on all corporate stock buybacks of issued shares.
summary
Introduced
02/07/2020
02/07/2020
In Committee
02/07/2020
02/07/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to imposing a specific tax on all corporate stock buybacks of issued shares
AI Summary
This bill amends the New York tax law to impose a tax of one-half of one percent on all corporate stock buybacks of issued shares. The bill specifies that this tax applies regardless of whether the shares are cancelled on reacquisition or within one year of the purchase. This new tax provision is added as a new subdivision to the existing tax law section that governs the taxation of stock transactions.
Committee Categories
Budget and Finance
Sponsors (24)
Yuh-Line Niou (D)*,
Thomas Abinanti (D),
Carmen Arroyo (OTHER),
Charles Barron (D),
Michael Blake (D),
Robert Carroll (D),
Taylor Darling (D),
Inez Dickens (D),
Harvey Epstein (D),
Patricia Fahy (D),
Nathalia Ferna´ndez (D),
Deborah Glick (D),
Richard Gottfried (D),
Ellen Jaffee (D),
Michael Miller (D),
Walter Mosley (D),
Félix Ortiz (D),
Dan Quart (D),
Karines Reyes (D),
José Rivera (D),
Linda Rosenthal (D),
Rebecca Seawright (D),
Jo Anne Simon (D),
Aravella Simotas (D),
Last Action
referred to ways and means (on 02/07/2020)
Official Document
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