Terms Used In New York Laws > Tax > Article 30-A - City Income Tax Surcharge

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Decedent: A deceased person.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• limited liability company: means a domestic limited liability company or a foreign limited liability company, as defined in § 102 of the limited liability company law, a limited liability investment company formed pursuant to § 507 of the banking law, or a limited liability trust company formed pursuant to § 102-a of the banking law. See N.Y. Tax Law 1322
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• partnership: shall include , unless a different meaning is clearly required, a subchapter K limited liability company. See N.Y. Tax Law 1322