New York A 10318: Relates to modifications increasing federal adjusted gross income

Bill Text

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A10318 Summary:

BILL NOA10318 

&nbsp

SAME ASSAME AS S08921-A

&nbsp

SPONSORLasher

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §§208, 612 & 1503, Tax L

&nbsp

Adds certain gains with respect to small business stock excluded pursuant to section 1202 of the Internal Revenue Code as an increase to adjusted gross income.

Go to top A10318 Actions:

BILL NOA10318 

&nbsp

02/20/2026referred to ways and means

Go to topA10318 Committee&nbspVotes:

Go to topA10318 Floor&nbspVotes:

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

Go to topA10318 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10318

 IN ASSEMBLY

 February 20, 2026
 ___________

 Introduced by M. of A. LASHER -- read once and referred to the Committee
 on Ways and Means

 AN ACT to amend the tax law, in relation to modifications increasing
 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 (b) of subdivision 9 of section 208 of the tax
 2 law is amended by adding a new subparagraph 28 to read as follows:
 3 (28) For taxable years beginning on or after January first, two thou-
 4 sand twenty-five, the amount of any gain excluded pursuant to section
 5 1202 of the Internal Revenue Code, with respect to such exclusion the
 6 amount of the deduction allowable under section 1202 of the Internal
 7 Revenue Code.
 8 § 2. Subsection (b) of section 612 of the tax law is amended by adding
 9 a new paragraph 44 to read as follows:
 10 (44) For taxable years beginning on or after January first, two thou-
 11 sand twenty-five, the amount of any gain excluded pursuant to section
 12 1202 of the Internal Revenue Code, with respect to such exclusion the
 13 amount of the deduction allowable under section 1202 of the Internal
 14 Revenue Code.
 15 § 3. Paragraph 2 of subdivision (b) of section 1503 of the tax law is
 16 amended by adding a new subparagraph (AA) to read as follows:
 17 (AA) For taxable years beginning on or after January first, two thou-
 18 sand twenty-five, the amount of any gain excluded pursuant to section
 19 1202 of the Internal Revenue Code, with respect to such exclusion the
 20 amount of the deduction allowable under section 1202 of the Internal
 21 Revenue Code.
 22 § 4. This act shall take effect immediately, and shall apply to taxa-
 23 ble years beginning on or after January 1, 2025.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14477-04-6

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