senate Bill S4740A

2013-2014 Legislative Session

Allows the subtraction from adjusted gross income of gambling losses incurred during a taxable year for state personal income tax purposes

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Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 21, 2014 print number 4740a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
Apr 19, 2013 referred to investigations and government operations

S4740 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §612, Tax L

S4740 - Summary

Allows the subtraction from adjusted gross income of gambling losses incurred during a taxable year for state personal income tax purposes.

S4740 - Sponsor Memo

S4740 - Bill Text download pdf

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

                                  4740

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 19, 2013
                               ___________

Introduced  by  Sen. ADDABBO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation  to  allowing  the  subtraction
  from  adjusted gross income of gambling losses incurred during a taxa-
  ble year for state personal income tax purposes

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

  Section  1. Subsection (c) of section 612 of the tax law is amended by
adding a new paragraph 40 to read as follows:
  (40) GAMBLING LOSSES INCURRED DURING A TAXABLE YEAR.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2013.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10312-01-3

S4740A (ACTIVE) - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §612, Tax L

S4740A (ACTIVE) - Summary

Allows the subtraction from adjusted gross income of gambling losses incurred during a taxable year for state personal income tax purposes.

S4740A (ACTIVE) - Sponsor Memo

S4740A (ACTIVE) - Bill Text download pdf

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

                                 4740--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 19, 2013
                               ___________

Introduced  by  Sen. ADDABBO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to  amend  the tax law, in relation to allowing the subtraction
  from adjusted gross income of gambling losses incurred during a  taxa-
  ble year for state personal income tax purposes

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

  Section 1. Subsection (c) of section 612 of the tax law is amended  by
adding a new paragraph 41 to read as follows:
  (41) GAMBLING LOSSES INCURRED DURING A TAXABLE YEAR.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2014.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10312-02-4

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