A8166-2011 Actions

• Jan 4, 2012: referred to ways and means
• Jun 3, 2011: referred to ways and means

A8166-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         8166
 2011-2012 Regular Sessions
 I N  ASSEMBLY
 June 3, 2011
 
 Introduced  by  M.  of  A.  D. MILLER  --  read once and referred to the
 Committee on Ways and Means
 

AN ACT to amend the tax law, in relation to exempting  certain  individ
 uals for capital gains taxes
 

THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section 1. The tax law is amended by adding a new section 640 to  read
 as follows:

 

S  640.  NEW  YORK  STATE RESIDENT INDIVIDUAL TAX EXEMPTION ON CAPITAL
 GAINS. ANY GAINS FROM THE SALE OR EXCHANGE OF A CAPITAL ASSET AS DEFINED
 IN

S 1221 AND

S 1222 SUBDIVISIONS (1), (3), (5), (7), (9)  AND  (11)  OF
 THE INTERNAL REVENUE CODE SHALL NOT BE TAXABLE UNDER THIS CHAPTER.
 

S  2.  This  act shall take effect immediately and shall apply only to
 tax returns filed after such date.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10134-01-1

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