New York bill A00797 prohibits certain itemized deductions for charitable contributions for residents with an adjusted gross income over $10 million.

New York bill A00797 amends the tax law to eliminate itemized deductions for charitable contributions for individuals with a New York adjusted gross income exceeding $10 million. This change applies to taxable years beginning on and after the effective date of the bill. The bill specifies that no deduction shall be allowed for charitable contributions under section one hundred seventy of the Internal Revenue Code.

New York bill A00797 prohibits certain itemized deductions for charitable contributions for residents with an adjusted gross income over $10 million.

New York bill A00797 amends the tax law to eliminate itemized deductions for charitable contributions for individuals with a New York adjusted gross income exceeding $10 million. This change applies to taxable years beginning on and after the effective date of the bill. The bill specifies that no deduction shall be allowed for charitable contributions under section one hundred seventy of the Internal Revenue Code.