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S08991 Summary:
| BILL NO | S08991A |
| SAME AS | No Same As |
| SPONSOR | FLANAGAN |
| COSPNSR | |
| MLTSPNSR | |
| Amd §§208 & 1503, Tax L; amd §11-652, NYC Ad Cd | |
| Relates to the definitions of the terms "CFC income" and "entire net income"; provides that exempt CFC income shall include income required to be included in a taxpayer's federal gross income pursuant to subsection (a) of section 951A of the internal revenue code; excludes the amount of any federal deduction allowed pursuant to section 250(a)(1)(B)(i) of the IRC from being included in the calculation of entire net income. | |