Assembly Bill A11051

Signed By Governor
2017-2018 Legislative Session

Relates to unrelated business taxable income of a taxpayer

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • 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

2017-A11051 (ACTIVE) - Details

See Senate Version of this Bill:
S8831
Law Section:
Tax Law
Laws Affected:
Amd §292, Tax L

2017-A11051 (ACTIVE) - Summary

Establishes that any income included pursuant to section 512(a)(7) of the internal revenue code shall be subtracted from federal unrelated business taxable income.

2017-A11051 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   11051
 
                           I N  A S S E M B L Y
 
                               June 1, 2018
                                ___________
 
 Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Paulin) --
   read once and referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to unrelated  business  taxable
   income of a taxpayer
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph 4 of subdivision (a) of section 292  of  the  tax
 law,  as added by chapter 547 of the laws of 1987, is amended to read as
 follows:
   (4) There shall be subtracted from federal unrelated business  taxable
 income  any  amount  which  is  included therein solely by reason of the
 application of section 501(m)(2)(A) OR 512(A)(7) of the internal revenue
 code.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2018.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16036-01-8



              

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.