Bill > S05004

This bill establishes the New York State Foreign Dependent Children Tax Inclusion Act, which authorizes a tax deduction for support provided to children residing outside the United States. The bill defines "dependent children" as any child of the individual who is 18 years old or younger and resides outside the U.S. It provides a $1,000 exemption for each foreign dependent child, and requires the taxpayer to provide proof of the legal relationship and the amount of money provided to the dependent child. The bill also imposes penalties for submitting false or fraudulent documents to the Department of Taxation and Finance.