Relates to the liability of a person who makes or uses a false record or statement material to an obligation to pay money to the state or a local government under the tax law, or who conceals or improperly avoids or decreases an obligation to pay money to the state or a local government under the tax law.
Summary
Bill S00944 amends the New York State Finance Law to establish liability for individuals who create or utilize false records or statements related to tax obligations owed to the state or local governments. It specifically targets those who conceal or improperly reduce their tax liabilities, holding them accountable for any damages incurred by the state or local government as a result of such actions. The bill also clarifies that proof of specific intent to defraud is not necessary for liability, although mistakes or negligence are not included under this provision.
Impact
The bill significantly strengthens the enforcement of tax compliance in New York by allowing the state to pursue damages from individuals who engage in deceptive practices regarding their tax obligations. It broadens the scope of liability to include not just direct actions by individuals but also actions taken by entities they control, thereby enhancing accountability. This amendment is expected to deter fraudulent activities related to tax payments and improve revenue collection for state and local governments.
Sentiment
The sentiment surrounding Bill S00944 appears to be generally supportive among lawmakers, as it addresses the critical issue of tax fraud and aims to protect state and local revenues. However, there may be concerns regarding the implications for individuals and businesses who might inadvertently fall under the bill's provisions due to its broad language.
Contention
Notable points of contention may arise regarding the lack of requirement for proof of specific intent to defraud, which some stakeholders argue could lead to unjust penalties for individuals who make honest mistakes. Additionally, there may be discussions about the balance between enforcing tax compliance and ensuring that taxpayers are not unduly punished for minor infractions or misunderstandings of tax law.
Relates to the liability of a person who makes or uses a false record or statement material to an obligation to pay money to the state or a local government under the tax law, or who conceals or improperly avoids or decreases an obligation to pay money to the state or a local government under the tax law.
Relates to the liability of a person who makes or uses a false record or statement material to an obligation to pay money to the state or a local government under the tax law, or who conceals or improperly avoids or decreases an obligation to pay money to the state or a local government under the tax law.
Establishes Bureau of Short-Term Local Government Note Investments and requires bureau to bid on or offer to purchase certain short term obligations issued by local governments.
Relating to the date and requirements regarding an election to authorize the issuance of general obligation bonds or other debt obligations payable from ad valorem taxes or to approve an increase in an ad valorem tax rate.
Repealing provisions relating to inheritance tax; in procedure and administration, further providing for petition for reassessment; and, in governmental obligations, further providing for taxability of government obligations.
Repealing provisions relating to inheritance tax; in procedure and administration, further providing for petition for reassessment; and, in governmental obligations, further providing for taxability of government obligations.
A bill for an act relating to the rights and obligations of certain state and local government entities in erecting, rebuilding, or repairing partition fences, including the allocation of moneys from accounts in the Iowa resources enhancement and protection fund.(Formerly SF 597, SF 432.)