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Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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|---|---|
| Jan 03, 2024 |
referred to budget and revenue |
| Feb 01, 2023 |
referred to budget and revenue |
Senate Bill S3562
2023-2024 Legislative Session
Sponsored By
(D, WF) 28th Senate District
Current 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
2023-S3562 (ACTIVE) - Details
2023-S3562 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3562
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 28 to paragraph (b) of
subdivision 9 of section 208.
JUSTIFICATION:
2023-S3562 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3562
2023-2024 Regular Sessions
I N S E N A T E
February 1, 2023
___________
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 28 to read as follows:
(28) 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, 2024.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05532-01-3
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