Senate Bill S6885

2011-2012 Legislative Session

Establishes a deduction for stock options

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-S6885 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd ยง208, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S3276
2015-2016: S3431
2017-2018: S4581
2019-2020: S2725
2021-2022: S1476
2023-2024: S3562

2011-S6885 (ACTIVE) - Summary

Establishes a deduction for stock options.

2011-S6885 (ACTIVE) - Sponsor Memo

2011-S6885 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6885

                            I N  S E N A T E

                              April 4, 2012
                               ___________

Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation  to  the  deduction  for  stock
  options

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (b) of subdivision 9 of section 208  of  the  tax
law is amended by adding new subparagraph 21 to read as follows:
  (21)  IN  THE  CASE  OF PROPERTY TRANSFERRED TO A PERSON IN CONNECTION
WITH THE PERFORMANCE  OF  SERVICES,  ANY  DEDUCTION  RELATING  TO  STOCK
OPTIONS PURSUANT TO THE INTERNAL REVENUE CODE SECTION 83(H) FOR PROPERTY
DESCRIBED IN SUBSECTION (A) OF THAT SECTION, IN EXCESS OF THE AMOUNT THE
TAXPAYER  WAS ALLOWED TO TREAT AS COMPENSATION COST WITH RESPECT TO THAT
PROPERTY IN THE YEAR  THE  STOCK  OPTION  WAS  GRANTED  UNDER  GENERALLY
ACCEPTED  ACCOUNTING  PRINCIPLES FOR THE PURPOSE OF ASCERTAINING INCOME,
PROFIT, OR LOSS IN A REPORT OR STATEMENT TO  SHAREHOLDERS,  PARTNERS  OR
OTHER PROPRIETORS (OR TO BENEFICIARIES).
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on and after January 1, 2012.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14889-01-2

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