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NY A06632

Bill

Official Source

Status

Introduced

3/23/2011

Primary Sponsor

Brian Curran

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Amends New York Tax Law Section 612(c) to add a new modification for personal income tax purposes
  • Allows taxpayers to exclude up to $20,000 in annual interest and dividend income from federal adjusted gross income calculation
  • Applies only to taxpayers who do not claim a modification for pension income under existing law
  • Takes effect immediately and applies to taxable years beginning on or after January 1, 2011

Legislative Description

Excludes from calculation of gross personal income tax any interest and dividends not in excess of $20,000 for taxpayers who do not take an adjustment with respect to pension income.

Last Action

held for consideration in ways and means

6/19/2012

Committee Referrals

Ways and Means3/23/2011

Full Bill Text

No bill text available