Senate Bill S8831

Signed By Governor
2017-2018 Legislative Session

Relates to unrelated business taxable income of a taxpayer

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Sponsored By

Archive: Last Bill Status Via A11051 - Signed by Governor


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-S8831 (ACTIVE) - Details

See Assembly Version of this Bill:
A11051
Law Section:
Tax Law
Laws Affected:
Amd §292, Tax L

2017-S8831 (ACTIVE) - Summary

Establishes that any income included pursuant to section 512(a)(7) of the internal revenue code shall be subtracted from federal unrelated business taxable income.

2017-S8831 (ACTIVE) - Sponsor Memo

2017-S8831 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8831
 
                             I N  S E N A T E
 
                               May 23, 2018
                                ___________
 
 Introduced  by  Sen.  RANZENHOFER -- 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 unrelated business taxable
   income of a taxpayer
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Paragraph  4 of subdivision (a) of section 292 of the tax
 law, as added by chapter 547 of the laws of 1987, is amended to read  as
 follows:
   (4)  There shall be subtracted from federal unrelated business taxable
 income any amount which is included therein  solely  by  reason  of  the
 application of section 501(m)(2)(A) OR 512(A)(7) of the internal revenue
 code.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2018.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16036-01-8



              

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