Legislation would require credit card companies to pay all sales taxes collected directly to the state

ALBANY – State Senator Rev. Ruben Diaz Wednesday urged Governor Paterson to support legislation to amend the tax law, in relation to requiring issuers of credit cards and debit cards to pay and collect sales and use taxes and pay those taxes directly to the state Department of Taxation and Finance.

“While the Governor is now pressuring small business owners to properly remit their business taxes in an effort to balance the state’s fiscal needs, Governor Paterson has had an opportunity to do this all session by supporting my legislation, Senate Bill 774, which will ensure that New York State will receive over 500 million dollars in uncollected sales taxes,” said Diaz.

The only ones who are opposed to this legislation are the credit card companies, said Diaz. “They are not going to like this, because it will tell the state how much money they are making in New York. There is no additional cost to the retailer’s or consumers, just an end to sales tax scofflaws.”

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