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Bill > S00670


NY S00670

NY S00670
Repeals the estate tax.


summary

Introduced
01/05/2023
In Committee
01/03/2024
Crossed Over
Passed
Dead
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)

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