Bill > S01083

This bill proposes to amend the New York Tax Law to provide a reduced sales tax rate of 2% on goods or services purchased from businesses that employ 20 or fewer persons, are resident in New York, are independently owned and operated, and are not dominant in their field. The current sales tax rate is 4%, but this bill would create an exception for these smaller, local businesses. The reduced rate would take effect 90 days after the bill becomes law and would apply in accordance with the applicable transitional provisions of the existing tax law.