Assembly Bill A11051

Signed By Governor
2017-2018 Legislative Session

Relates to unrelated business taxable income of a taxpayer

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Sponsored By

Archive: Last Bill Status - Signed by Governor

  • 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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2017-A11051 (ACTIVE) - Details

See Senate Version of this Bill:
S8831
Law Section:
Tax Law
Laws Affected:
Amd §292, Tax L

2017-A11051 (ACTIVE) - Summary

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.

2017-A11051 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   11051
 
                           I N  A S S E M B L Y
 
                               June 1, 2018
                                ___________
 
 Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Paulin) --
   read once and referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to unrelated  business  taxable
   income of a taxpayer
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph 4 of subdivision (a) of section 292  of  the  tax
 law,  as added by chapter 547 of the laws of 1987, is amended to read as
 follows:
   (4) There shall be subtracted from federal unrelated business  taxable
 income  any  amount  which  is  included therein solely by reason of the
 application of section 501(m)(2)(A) OR 512(A)(7) of the internal revenue
 code.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2018.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16036-01-8

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