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NY A02681

Bill

Official Source

Status

Introduced

1/17/2013

Primary Sponsor

Clifford Crouch

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Amends New York State tax law (section 612) to allow subtraction of pensions from other U.S. states from adjusted gross income for state income tax purposes
  • Amends New York City administrative code (section 11-1712) with the same pension subtraction provision for city income tax purposes
  • Applies to pensions paid to officers and employees of any U.S. state or state agencies/instrumentalities, limited to amounts includible in federal gross income
  • Excludes New York state pensions from this deduction
  • Takes effect immediately and applies to pension benefits received in taxable years beginning January 1, 2014 or later

Legislative Description

Subtracts pensions to officers and employees of any state of the United States, or any agency or instrumentality of any such state, to the extent includible in gross income for federal income tax purposes, from adjusted gross income.

Last Action

held for consideration in ways and means

6/17/2014

Committee Referrals

Ways and Means1/17/2013

Full Bill Text

No bill text available