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S08041 Summary:

BILL NOS08041
 
SAME ASNo Same As
 
SPONSORDEFRANCISCO
 
COSPNSR
 
MLTSPNSR
 
Amd 208, Tax L
 
Relates to certain amounts not included in net income.
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S08041 Actions:

BILL NOS08041
 
03/22/2018REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
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S08041 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8041
 
                    IN SENATE
 
                                     March 22, 2018
                                       ___________
 
        Introduced  by  Sen.  DeFRANCISCO -- read twice and ordered printed, and
          when printed to be committed to the Committee  on  Investigations  and
          Government Operations
 
        AN ACT to amend the tax law, in relation to certain amounts not included
          in net income
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Paragraph (a) of subdivision 9 of section 208  of  the  tax
     2  law  is  amended  by  adding  two new subparagraphs 20 and 21 to read as
     3  follows:
     4    (20) the amount disallowed as a deduction pursuant to §  163(j)(1)  of
     5  the Internal Revenue Code.
     6    (21)  any  amount  deducted by reason of a carry forward of disallowed
     7  business interest pursuant to § 163(j)(2) of the Internal Revenue Code.
     8    § 2. This act shall take effect immediately and shall apply to taxable
     9  years beginning on or after January 1, 2019.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15220-01-8
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