New York A11503 imposes a 100% tax on distributions from the federal anti-weaponization fund, with no reductions allowed.

New York A11503 amends the tax law to impose a separate tax on distributions from the federal anti-weaponization fund. The tax is equal to 100% of the gross amount of such distributions and cannot be reduced by any deduction, exemption, or credit. The fund in question is the federal anti-weaponization fund established under the settlement agreement in Trump v. Internal Revenue Service, No. 1:26-cv-20609 (S.D. Fla.). The tax applies to distributions received by resident individuals, estates, or trusts.

New York A11503 imposes a 100% tax on distributions from the federal anti-weaponization fund, with no reductions allowed.

New York A11503 amends the tax law to impose a separate tax on distributions from the federal anti-weaponization fund. The tax is equal to 100% of the gross amount of such distributions and cannot be reduced by any deduction, exemption, or credit. The fund in question is the federal anti-weaponization fund established under the settlement agreement in Trump v. Internal Revenue Service, No. 1:26-cv-20609 (S.D. Fla.). The tax applies to distributions received by resident individuals, estates, or trusts.