Bill S70A-2011

Relates to the calculation of gross income for state income tax purposes

Relates to the calculation of gross income for state income tax purposes.

Details

Actions

  • Jan 4, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • Dec 21, 2011: PRINT NUMBER 70A
  • Dec 21, 2011: AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • Jan 5, 2011: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Memo

BILL NUMBER:S70A

TITLE OF BILL: An act to amend the tax law, in relation to the computation of gross income for state income tax purposes

PURPOSE: Relates to the calculation of gross income for state income tax purposes.

SUMMARY OF PROVISIONS: Amends subsection (c) of section 612 of the tax law by adding a new paragraph 39 to read as follows: (38) Compensation, to the extent includable in gross income for federal income tax purposes, attributable to employer-provided benefits to domestic partners.

JUSTIFICATION: Currently, because of federal tax regulations, any domestic partner benefits are calculated as compensation and are taxed by the federal government. This legislation would allow individuals whose domestic partners are receiving, say health insurance benefits, to deduct the cost of that benefit from their taxable income for state tax purposes.

Married couples are not treated in this fashion. The cost of employer provided benefits for family members is not treated as compensation. This bill will level the playing field in this one area and remove this added tax for domestic partners. This only addresses state income tax, the federal inequity would remain.

LEGISLATIVE HISTORY: 2009/2010: Died in Senate Committee on Investigations and Government Operations; Passed Assembly

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: This act shall take effect immediately and shall apply to taxable years commencing on or after January 1, 2014.


Text

STATE OF NEW YORK ________________________________________________________________________ 70--A 2011-2012 Regular Sessions IN SENATE (PREFILED) January 5, 2011 ___________
Introduced by Sen. MONTGOMERY -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to the computation of gross income for state income tax purposes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 39 to read as follows: (39) COMPENSATION, TO THE EXTENT INCLUDABLE IN GROSS INCOME FOR FEDER- AL INCOME TAX PURPOSES, ATTRIBUTABLE TO EMPLOYER-PROVIDED BENEFITS TO DOMESTIC PARTNERS. S 2. This act shall take effect immediately and shall apply to taxable years commencing on or after January 1, 2014.

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