summary
Introduced
01/05/2023
01/05/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the administrative code of the city of New York, in relation to taxable estates; and to repeal article 26 of the tax law relating thereto
AI Summary
This bill repeals the estate tax in the state of New York and amends the administrative code of the city of New York to remove references to the estate tax, which is levied on the transfer of property from a deceased individual to their heirs. The bill eliminates the requirement to file a federal estate tax return for estates that are not large enough to require such a filing, thus simplifying the process for smaller estates.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/03/2024)
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/2023/S670 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S00670&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S00670 |
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