S 6635: Imposes an additional two percent sales tax on retail sales of motor vehicles over $70,000, excluding commercial vehicles and electric vehicles, jewelry over $5,000 and articles of clothing, footwear, handbags, luggage, umbrellas, wallets or watches sold for over $1,000; provides that such tax shall be distributed equally to the credit of the state university of New York and the city university of New York.

  
  STATE OF NEW YORK ________________________________________________________________________ 6635 2025-2026 Regular Sessions  IN SENATE March 19, 2025 ___________ Introduced by Sen. JACKSON -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to imposing an additional two percent sales tax on certain retail sales The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The tax law is amended by adding a new section 1105-C to 2 read as follows: 3 § 1105-C. Additional sales tax on certain retail sales. (a) Notwith- 4 standing any other provisions of this article, on and after June first, 5 two thousand twenty-five, there is hereby imposed and shall be paid a 6 tax of two percent upon the receipts from every retail sale of tangible 7 personal property of: 8 (1) motor vehicles sold for over seventy thousand dollars excluding 9 commercial vehicles and electric vehicles; 10 (2) jewelry sold for over five thousand dollars; and 11 (3) any article of clothing or footwear intended to be worn on or 12 about the human body, any handbag, luggage, umbrella, wallet or watch 13 sold for over one thousand dollars. 14 (b) The tax imposed by subdivision (a) of this section shall be in 15 addition to the tax imposed on such receipts pursuant to section eleven 16 hundred five of this article. 17 § 2. Section 1148 of the tax law is amended by adding a new subdivi- 18 sion (d) to read as follows: 19 (d) Provided, however, before funds are distributed pursuant to subdi- 20 vision (a), (b) or (c) of this section, (1) fifty percent of all taxes, 21 interest and penalties collected or received by the commissioner pursu- 22 ant to section eleven hundred five-C of this article shall be deposited 23 to the credit of the state university of New York and (2) fifty percent 24 of all taxes, interest and penalties collected or received by the 25 commissioner pursuant to section eleven hundred five-C of this article 26 shall be deposited to the credit of the city university of New York. 27 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11127-01-5