Assembly Bill A7074

2019-2020 Legislative Session

Establishes a deduction for stock options

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2019-A7074 (ACTIVE) - Details

See Senate Version of this Bill:
S2725
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §208, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6885
2013-2014: S3276
2015-2016: S3431
2017-2018: S4581
2021-2022: A6689, S1476
2023-2024: S3562

2019-A7074 (ACTIVE) - Summary

Establishes a deduction for stock options.

2019-A7074 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7074
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 4, 2019
                                ___________
 
 Introduced  by M. of A. GALEF -- read once and referred to the Committee
   on Ways and Means
 
 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 a new subparagraph 25 to read as follows:
   (25)  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).
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2020.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06767-01-9

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.