Adds certain gains from small business stock to adjusted gross income under New York tax law.

This bill amends the New York tax law to include certain gains from small business stock in adjusted gross income. Specifically, it modifies sections 208, 612, and 1503 of the tax law to add a new subparagraph that applies to taxable years beginning on or after January 1, 2025. This change aligns with the exclusion of gains under section 1202 of the Internal Revenue Code.

Adds certain gains from small business stock to adjusted gross income under New York tax law.

This bill amends the New York tax law to include certain gains from small business stock in adjusted gross income. Specifically, it modifies sections 208, 612, and 1503 of the tax law to add a new subparagraph that applies to taxable years beginning on or after January 1, 2025. This change aligns with the exclusion of gains under section 1202 of the Internal Revenue Code.