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NY A04635

Bill

Official Source

Status

Introduced

2/7/2013

Primary Sponsor

Brian Curran

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Adds a new modification to New York tax law allowing eligible taxpayers to reduce federal adjusted gross income by interest and dividend income
  • Limits the modification to interest and dividend income not exceeding $20,000 paid during the taxable year
  • Applies only to taxpayers who do not qualify for a modification reducing federal adjusted gross income for pension income
  • Takes effect immediately and applies to taxable years beginning on or after January 1, 2013

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

6/17/2014

Committee Referrals

Ways and Means2/7/2013

Full Bill Text

No bill text available