Bill > S06301

This bill codifies existing guidance on the application of sales and use tax and amends the definition of "receipt" to include consideration received by a vendor from third parties in certain circumstances. Specifically, the bill states that "receipt" shall include consideration received by the vendor from third parties if the vendor is required to pass on the consideration to the purchaser in the form of a rebate, discount, or similar price reduction, and certain other criteria are met. The bill excludes from this definition of "receipt" rebates, discounts, or similar price reductions that are reimbursed by a third party on sales of motor vehicles. The bill takes effect on the first day of a sales tax quarterly period at least 90 days after it becomes law and applies to sales occurring on and after that date.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2021/S6301