Assembly Bill A8166

2011-2012 Legislative Session

Creates capital gains tax exemptions

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

co-Sponsors

multi-Sponsors

2011-A8166 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง640, Tax L

2011-A8166 (ACTIVE) - Summary

Amend the tax law, in relation to exempting certain individuals for capital gains taxes.

2011-A8166 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8166

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              June 3, 2011
                               ___________

Introduced  by  M.  of  A.  D. MILLER  --  read once and referred to the
  Committee on Ways and Means

AN ACT to amend the tax law, in relation to exempting  certain  individ-
  uals for capital gains taxes

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The tax law is amended by adding a new section 640 to  read
as follows:
  S  640.  NEW  YORK  STATE RESIDENT INDIVIDUAL TAX EXEMPTION ON CAPITAL
GAINS. ANY GAINS FROM THE SALE OR EXCHANGE OF A CAPITAL ASSET AS DEFINED
IN S 1221 AND S 1222 SUBDIVISIONS (1), (3), (5), (7), (9)  AND  (11)  OF
THE INTERNAL REVENUE CODE SHALL NOT BE TAXABLE UNDER THIS CHAPTER.
  S  2.  This  act shall take effect immediately and shall apply only to
tax returns filed after such date.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10134-01-1

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.