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NY A06505

Bill

Official Source

Status

Introduced

3/21/2011

Primary Sponsor

Brian Kolb

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Amends Tax Law Section 951(a) to increase the unified credit against estate tax from one million dollars to two million dollars for New York State purposes
  • Changes the applicable exclusion amount used to calculate the unified credit against the estate tax to two million dollars
  • Applies to the Internal Revenue Code of 1986 with all amendments enacted on or before July 22, 1998
  • Takes effect on January 1 of the year following enactment

Legislative Description

Raises threshold for estate tax from one million to two million dollars under applicable internal revenue code provisions.

Last Action

held for consideration in ways and means

6/19/2012

Committee Referrals

Ways and Means3/21/2011

Full Bill Text

No bill text available