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NY A05959
Bill
Status
Passed
8/5/2014
Primary Sponsor
Herman Farrell
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AI Summary
- Suspends the statute of limitations for income tax refunds for individual taxpayers who are financially disabled, affecting periods specified in existing tax law sections
- Defines financial disability as a medically determinable physical or mental impairment expected to result in death or last at least 12 continuous months, with proof required in form and manner determined by the Commissioner
- Eliminates financial disability status if the taxpayer's spouse or another person is authorized to act on the taxpayer's behalf in financial matters
- Applies to both New York State personal income tax and City of New York income tax administered by the Commissioner of Taxation and Finance
- Takes effect immediately and applies retroactively to periods of financial disability commencing before, on, or after enactment, except claims already barred by law as of the effective date
Legislative Description
Suspends the income tax refund statute of limitations for individuals who are financially disabled.
Last Action
signed chap.204
8/5/2014
Committee Referrals
Investigations and Government Operations6/5/2013
Ways and Means3/11/2013
Full Bill Text
No bill text available