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NY A03051
Bill
Status
Introduced
1/22/2009
Primary Sponsor
Jane Corwin
Click for details
AI Summary
- Amends section 951(a) of New York tax law to update references to the Internal Revenue Code, changing from amendments enacted by July 22, 1998 to allow for more current federal tax provisions
- Modifies the unified credit against estate tax to use the amount allowed under applicable federal law in effect on the decedent's date of death, rather than a fixed amount
- Caps the unified estate tax credit at the amount allowable on a federal taxable estate of two million dollars (increased from one million dollars)
- Takes effect January 1st of the year following enactment
Legislative Description
An act to amend the tax law, in relation to applicable internal revenue code provisions
Last Action
held for consideration in ways and means
7/1/2010
Committee Referrals
Ways and Means1/22/2009
Full Bill Text
No bill text available