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Bill > S07231
NY S07231
NY S07231Provides a deduction for repayment of item amounts reported in a taxpayer's income in a previous tax year because it was established after the close of such previous taxable year that the taxpayer did not have an unrestricted right to such item or to a portion of such item.
summary
Introduced
06/07/2021
06/07/2021
In Committee
06/10/2021
06/10/2021
Crossed Over
06/10/2021
06/10/2021
Passed
06/11/2021
06/11/2021
Dead
Signed/Enacted/Adopted
06/11/2021
06/11/2021
Introduced Session
2021-2022 General Assembly
Bill Summary
Provides a deduction for repayment of item amounts reported in a taxpayer's income in a previous tax year because it was established after the close of such previous taxable year that the taxpayer did not have an unrestricted right to such item or to a portion of such item.
AI Summary
This bill provides a deduction for taxpayers who had to repay an item that was previously included in their New York adjusted gross income. The deduction applies if the taxpayer established after the close of the prior tax year that they did not have an unrestricted right to the item or a portion of it. The deduction cannot be claimed if the repayment amount is already included in a deduction or credit under other provisions of the tax law.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
SIGNED CHAP.149 (on 06/11/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/S7231 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S07231&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S07231 |
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