Bill
Bill > A10318
NY A10318
NY A10318Adds certain gains with respect to small business stock excluded pursuant to section 1202 of the Internal Revenue Code as an increase to adjusted gross income.
summary
Introduced
02/20/2026
02/20/2026
In Committee
02/20/2026
02/20/2026
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to modifications increasing federal adjusted gross income
AI Summary
This bill, effective for taxable years beginning on or after January 1, 2025, amends tax law to require that certain gains from the sale of small business stock, which are currently excluded from federal taxation under Section 1202 of the Internal Revenue Code, be added back as an increase to a taxpayer's adjusted gross income for New York State tax purposes. This means that while these gains might not be taxed by the federal government, New York State will now tax them, effectively reducing the benefit of the federal exclusion for New York taxpayers.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
referred to ways and means (on 02/20/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2025/A10318 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A10318&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A10318 |
Loading...