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NY A00140

Bill

Official Source

Status

Introduced

1/5/2011

Primary Sponsor

David McDonough

Click for details

Origin

Assembly

2009-2010 General Assembly

AI Summary

  • Amends New York Tax Law Section 612 to add a new paragraph 39 addressing property acquired from decedents
  • Requires recalculation of property basis for sales when the decedent died during the period when Internal Revenue Code Section 1022 applied federally
  • Directs use of Internal Revenue Code Section 1014 as it existed on December 31, 2009, rather than Section 1022 for determining gain or loss on such sales
  • Takes effect sixty days after becoming law
  • Referred to the Committee on Ways and Means

Legislative Description

Relates to adjusting the federal adjusted gross income for personal income tax purposes; applies IRC section 1014 as in effect 12/31/2009, not IRC section 1022.

Last Action

referred to ways and means

1/5/2011

Committee Referrals

Ways and Means1/5/2011

Full Bill Text

No bill text available