New York S 8631: Relates to the treatment of certain deductions allowable under the internal revenue code in calculating federal adjusted gross income

Bill Text

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S08631 Summary:

BILL NOS08631A

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SAME ASSAME AS A10273

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SPONSORGOUNARDES

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COSPNSR

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MLTSPNSR

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Amd §§208, 612 & 1503, Tax L

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Provides that certain deductions allowable under the internal revenue code related to certain types of property and domestic research or experimental expenditures shall be added to federal adjusted gross income.

Go to top S08631 Actions:

BILL NOS08631A

&nbsp

12/22/2025REFERRED TO RULES

01/07/2026REFERRED TO BUDGET AND REVENUE

02/10/2026AMEND AND RECOMMIT TO BUDGET AND REVENUE

02/10/2026PRINT NUMBER 8631A

Go to topS08631 Committee&nbspVotes:

Go to topS08631 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS08631 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8631--A

 2025-2026 Regular Sessions

 IN SENATE

 December 22, 2025
 ___________

 Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
 printed to be committed to the Committee on Rules -- recommitted to
 the Committee on Budget and Revenue in accordance with Senate Rule 6,
 sec. 8 -- committee discharged, bill amended, ordered reprinted as
 amended and recommitted to said committee

 AN ACT to amend the tax law, in relation to the treatment of certain
 deductions allowable under the internal revenue code in calculating
 federal adjusted gross 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 four new subparagraphs 24, 25, 26, and 27 to
 3 read as follows:
 4 (24) For taxable years beginning on or after January first, two thou-
 5 sand twenty-five, in the case of qualified production property described
 6 in paragraph two of subsection (n) of section one hundred sixty-eight of
 7 the internal revenue code, the amount of any deduction allowed pursuant
 8 to subsection (a) of section one hundred sixty-seven of the internal
 9 revenue code as if the taxpayer has not made an election pursuant to
 10 subsection (n) of section one hundred sixty-eight of the internal reven-
 11 ue code.
 12 (25) For taxable years beginning on or after January first, two thou-
 13 sand twenty-five, the amount of any foreign and domestic research or
 14 experimental expenditures, as defined in sections one hundred seventy-
 15 four and 174A of the internal revenue code, paid or incurred in each
 16 taxable year on and after January first, two thousand twenty-five, amor-
 17 tized over a sixty-month period as if the election in subsection (c) of
 18 section 174A of the internal revenue code applied to such foreign and
 19 domestic research or experimental expenditures.
 20 (26) For taxable years beginning on or after January first, two thou-
 21 sand twenty-five, the remaining amount of any foreign and domestic

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14215-03-6

 S. 8631--A 2

 1 research or experimental expenditures, as defined in sections one
 2 hundred seventy-four and 174A of the internal revenue code, paid or
 3 incurred prior to January first, two thousand twenty-five, determined as
 4 if section one hundred seventy-four of the internal revenue code in
 5 effect as of January first, two thousand twenty-two, applied to such
 6 expenditures.
 7 (27) For taxable years beginning on or after January first, two thou-
 8 sand twenty-five, in the case of section 179 property as described in
 9 subsection (d) of section one hundred seventy-nine of the internal
 10 revenue code with respect to such property the amount of any deduction
 11 made pursuant to section 179 of the internal revenue code as it shall
 12 have been in effect as of January first, two thousand twenty-two.
 13 § 2. Paragraph (b) of subdivision 9 of section 208 of the tax law is
 14 amended by adding three new subparagraphs 28, 29, and 30 to read as
 15 follows:
 16 (28) For taxable years beginning on or after January first, two thou-
 17 sand twenty-five, in the case of qualified production property described
 18 in paragraph two of subsection (n) of section one hundred sixty-eight of
 19 the internal revenue code, any amount which the taxpayer claimed