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Bill > S03810


NY S03810

NY S03810
Creates a tax deduction for certain capital gains.


summary

Introduced
01/30/2021
In Committee
01/05/2022
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

2021-2022 General Assembly

Bill Summary

AN ACT to amend the tax law, in relation to creating a tax deduction for certain capital gains

AI Summary

This bill creates a tax deduction for capital gains from the sale of stock or member interest in a New York corporation or limited liability company to an "employee-owned enterprise" (defined as an entity that complies with federal requirements for an "employee stock ownership plan"). The deduction applies if the employee-owned enterprise has its commercial domicile in New York.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

REFERRED TO BUDGET AND REVENUE (on 01/05/2022)

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