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NY A02862
Bill
Status
Introduced
1/20/2015
Primary Sponsor
Steve Katz
Click for details
AI Summary
- Exempts capital gains and investment income from state taxation for New York residents who invest in technology or science start-up companies incorporated in New York
- Applies only to start-up companies that have been in operation for no more than three years and conduct business in New York State
- Defines eligible technology or science companies to include those working in biology, chemistry, computer science, physics, biochemistry, environmental science, neuroscience, nanoscience, and related fields
- Takes effect immediately upon enactment and applies to tax returns filed after the effective date
- Requires both the investor and the start-up company to be New York State residents for the exemption to apply
Legislative Description
Provides a capital gains and investment income tax exemption for resident New Yorkers investing in a New York resident technology or science start-up company.
Last Action
held for consideration in ways and means
6/14/2016
Committee Referrals
Ways and Means1/20/2015
Full Bill Text
No bill text available