senate Bill S2725

2019-2020 Legislative Session

Establishes a deduction for stock options

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue 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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to budget and revenue
Jan 29, 2019 referred to budget and revenue

S2725 (ACTIVE) - Details

See Assembly Version of this Bill:
A7074
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §208, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6885
2013-2014: S3276
2015-2016: S3431
2017-2018: S4581
2021-2022: S1476, A6689

S2725 (ACTIVE) - Summary

Establishes a deduction for stock options.

S2725 (ACTIVE) - Sponsor Memo

S2725 (ACTIVE) - Bill Text download pdf


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

                                  2725

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 29, 2019
                               ___________

Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Budget and Revenue

AN ACT to amend the tax law, in relation  to  the  deduction  for  stock
  options

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

  Section 1. Paragraph (b) of subdivision 9 of section 208  of  the  tax
law is amended by adding a new subparagraph 25 to read as follows:
  (25)  IN  THE  CASE  OF PROPERTY TRANSFERRED TO A PERSON IN CONNECTION
WITH THE PERFORMANCE  OF  SERVICES,  ANY  DEDUCTION  RELATING  TO  STOCK
OPTIONS PURSUANT TO THE INTERNAL REVENUE CODE SECTION 83(H) FOR PROPERTY
DESCRIBED IN SUBSECTION (A) OF THAT SECTION, IN EXCESS OF THE AMOUNT THE
TAXPAYER  WAS ALLOWED TO TREAT AS COMPENSATION COST WITH RESPECT TO THAT
PROPERTY IN THE YEAR  THE  STOCK  OPTION  WAS  GRANTED  UNDER  GENERALLY
ACCEPTED  ACCOUNTING  PRINCIPLES FOR THE PURPOSE OF ASCERTAINING INCOME,
PROFIT, OR LOSS IN A REPORT OR STATEMENT TO  SHAREHOLDERS,  PARTNERS  OR
OTHER PROPRIETORS (OR TO BENEFICIARIES).
  § 2. This act shall take effect immediately and shall apply to taxable
years beginning on and after January 1, 2020.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06767-01-9

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