SB331 HFIN AM 2-27                                           McO

    The Committee on Finance moves to amend the bill on page five, section sixteen, beginning on line fifty-eight through line seventy-three, by striking out subdivision (1) in its entirety and inserting in lieu thereof a new subdivision (1) to read as follows:

    (1) Taxpayers Notwithstanding any other provision of this code to the contrary, after June 30, 2014, taxpayers whose average monthly payment of the taxes levied by this article and article fifteen-a of this chapter during the previous calendar year exceeds $100,000, shall remit the tax attributable to the first fifteen days of June each year on or before by June 20: Provided, That on and after June 1, 2007, the provisions of this subsection that require the accelerated payment on or before June 20 of the tax imposed by this article and article fifteen-a of this chapter are no longer effective and any such tax due and owing shall be payable in accordance with subsection (a) of this section.”;

    And,

    On page twelve, section seventy-four, beginning on line ninety-five through line one hundred twelve, following the words “Accelerated payment. -- ”, by striking out subdivision (1) in its entirety and inserting in lieu thereof a new subdivision (1) to read as follows:

“(1) Notwithstanding the provisions of subsections (a) and (b) of this section, for calendar years beginning after December 31, 1990 after June 30, 2014, every employer required to deduct and withhold tax whose average payment per calendar month for the preceding calendar year under subsection (b) of this section exceeded $100,000 shall remit the tax attributable to the first fifteen days of June each year on or before by June 23: Provided, That on and after June 1, 2007, the provisions of this subsection that require the accelerated payment on or before June 23 of the tax imposed by this article are no longer effective and any tax due and owing shall be payable in accordance with subsection (a) of this section.”.

Adopted

Rejected