 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3562
 
                               2023-2024 Regular Sessions
 
                    IN SENATE
 
                                    February 1, 2023
                                       ___________
 
        Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue
 
        AN ACT to amend the tax law, in relation  to  the  deduction  for  stock
          options
 
          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)  in  the  case  of property transferred to a person in connection
     4  with the performance  of  services,  any  deduction  relating  to  stock
     5  options pursuant to the Internal Revenue Code section 83(h) for property
     6  described in subsection (a) of that section, in excess of the amount the
     7  taxpayer  was allowed to treat as compensation cost with respect to that
     8  property in the year  the  stock  option  was  granted  under  generally
     9  accepted  accounting  principles for the purpose of ascertaining income,
    10  profit, or loss in a report or statement to  shareholders,  partners  or
    11  other proprietors (or to beneficiaries).
    12    § 2. This act shall take effect immediately and shall apply to taxable
    13  years beginning on and after January 1, 2024.
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05532-01-3
Establishes a deduction for stock options

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