S T A T E O F N E W Y O R K
2013-2014 Regular Sessions
I N S E N A T E
January 31, 2013
Introduced by Sen. KRUEGER -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
AN ACT to amend the tax law, in relation to the deduction for stock
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, 2013.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.