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NY A11051

Bill

Official Source

Status

Passed

12/7/2018

Primary Sponsor

Amy Paulin

Click for details

Origin

Assembly

2017-2018 General Assembly

AI Summary

  • Amends Tax Law Section 292(a)(4) to allow subtraction of certain income from federal unrelated business taxable income
  • Expands the subtraction to include amounts included solely by reason of Internal Revenue Code Section 512(a)(7), in addition to the existing Section 501(m)(2)(A)
  • Takes effect immediately and applies to all taxable years beginning on or after January 1, 2018
  • Referred to the Committee on Ways and Means

Legislative Description

Establishes that any income included pursuant to section 512(a)(7) of the internal revenue code shall be subtracted from federal unrelated business taxable income.

Last Action

signed chap.369

12/7/2018

Committee Referrals

Rules6/18/2018
Rules6/13/2018
Ways and Means6/1/2018

Full Bill Text

No bill text available