senate Bill S6153

2013-2014 Legislative Session

Relates to raising the amount of the New York state estate tax exemption from one million dollars to five million dollars

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee

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

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view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations

S6153 - Details

See Assembly Version of this Bill:
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยง951, Tax L

S6153 - Summary

Relates to raising the amount of the New York state estate tax exemption from one million to five million dollars.

S6153 - Sponsor Memo

S6153 - Bill Text download pdf

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


                            I N  S E N A T E


                             January 8, 2014

Introduced  by  Sen.  AVELLA -- 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 raising the  amount  of  the
  New  York  state estate tax exemption from one million dollars to five
  million dollars


  Section 1. Subsection (a) of section 951 of the tax law, as amended by
section  1  of  part  T of chapter 57 of the laws of 2010, is amended to
read as follows:
  (a) Dates. For purposes of this article, any reference to the internal
revenue code means the United States Internal Revenue Code of 1986, with
all amendments enacted on or before July twenty-second, nineteen hundred
ninety-eight, and, unless specifically provided otherwise in this  arti-
cle,  any  reference to December thirty-first, nineteen hundred seventy-
six or January first, nineteen hundred seventy-seven  contained  in  the
provisions of such code which are applicable to the determination of the
tax imposed by this article shall be read as a reference to June thirti-
eth,  nineteen  hundred  seventy-eight  or  July first, nineteen hundred
seventy-eight, respectively. Notwithstanding the foregoing, the  unified
credit  against  the  estate tax provided in section two thousand ten of
the internal revenue code shall, for purposes of this  article,  be  the
amount  allowable  as  if  the  federal applicable exclusion amount were
[one] FIVE million dollars.
  S 2. This act shall take effect immediately and  shall  apply  to  all
estates submitted to probate after this act shall have become a law.

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


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