New York bill A01381 amends the tax law to reduce the sales tax rate to two percent for goods or services purchased from small businesses.

New York bill A01381 amends the tax law to reduce the sales tax rate to two percent for goods or services purchased from small businesses. This change applies to businesses that employ twenty or fewer persons, are resident in the state, are independently owned and operated, and are not dominant in their field. The amendment to section 1105 of the tax law specifies that the reduced tax rate takes effect on the first day of the sales tax quarterly period, as described in subdivision (b) of section 1136 of the tax law.

New York bill A01381 amends the tax law to reduce the sales tax rate to two percent for goods or services purchased from small businesses.

New York bill A01381 amends the tax law to reduce the sales tax rate to two percent for goods or services purchased from small businesses. This change applies to businesses that employ twenty or fewer persons, are resident in the state, are independently owned and operated, and are not dominant in their field. The amendment to section 1105 of the tax law specifies that the reduced tax rate takes effect on the first day of the sales tax quarterly period, as described in subdivision (b) of section 1136 of the tax law.