|
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| Jan 05, 2022 |
referred to budget and revenue |
| Jan 12, 2021 |
referred to budget and revenue |
Senate Bill S1476
2021-2022 Legislative Session
Sponsored By
(D, WF) 28th Senate District
Archive: Last Bill Status - In Senate Committee Budget And Revenue 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
Actions
2021-S1476 (ACTIVE) - Details
2021-S1476 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1476
SPONSOR: KRUEGER
TITLE OF BILL:
An act to amend the tax law, in relation to the deduction for stock
options
PURPOSE:
This legislation would specify that the deduction can only be based on
the price of the stock at the time of issuance of the option, not the
price of the stock when sold.
SUMMARY OF PROVISIONS:
The Tax Law is amended by adding a new paragraph 27 to paragraph (b) of
subdivision 9 of section 208.
JUSTIFICATION:
2021-S1476 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
1476
2021-2022 Regular Sessions
I N S E N A T E
January 12, 2021
___________
Introduced by Sen. KRUEGER -- read twice and ordered printed, and when
printed to be committed to the Committee on Budget and Revenue
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 27 to read as follows:
(27) 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, 2022.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04952-01-1
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.