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NY A10318
Bill
Status
2/20/2026
Primary Sponsor
Micah Lasher
Click for details
AI Summary
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Requires gains excluded under federal IRC Section 1202 (qualified small business stock exclusion) to be added back to New York adjusted gross income for state tax purposes
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Applies to corporate franchise tax (Section 208), personal income tax (Section 612), and New York City personal income tax (Section 1503)
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Effective for taxable years beginning on or after January 1, 2025
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Introduced by Assembly Member Lasher on February 20, 2026, and referred to the Ways and Means Committee
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Eliminates New York's conformity with the federal tax break that allows investors to exclude up to 100% of capital gains from selling qualifying small business stock held more than 5 years
Legislative Description
Adds certain gains with respect to small business stock excluded pursuant to section 1202 of the Internal Revenue Code as an increase to adjusted gross income.
Last Action
referred to ways and means
2/20/2026