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Senate Bill S9063

2017-2018 Legislative Session

Authorizes taxpayers to deduct from their personal income taxes, that amount in excess of $10,000 paid in state and local tax during the taxable year

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules Committee

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2017-S9063 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Amd §615, Tax L

2017-S9063 (ACTIVE) - Summary

Authorizes taxpayers having a federal adjusted gross income of $300,000 or less, to deduct from their incomes, that amount of state and local taxes paid by the taxpayer which exceeds $10,000.

2017-S9063 (ACTIVE) - Sponsor Memo

2017-S9063 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9063
 
                             I N  S E N A T E
 
                               June 15, 2018
                                ___________
 
 Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the tax law, in relation to granting a  personal  income
   tax  itemized deduction for a certain portion of state and local taxes
   paid by a resident taxpayer
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision (d) of section 615 of the tax law is amended by
 adding a new paragraph 6 to read as follows:
   (6)  FOR  TAXPAYERS  HAVING  A  FEDERAL ADJUSTED GROSS INCOME OF THREE
 HUNDRED THOUSAND DOLLARS OR LESS, THAT AMOUNT OF STATE AND  LOCAL  TAXES
 PAID  BY  THE TAXPAYER DURING THE TAXABLE YEAR WHICH IS IN EXCESS OF TEN
 THOUSAND DOLLARS.
   § 2. This act shall take effect immediately and  shall  apply  to  tax
 years commencing on or after January 1, 2018.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14398-01-8

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