Restores conformity with certain provisions of the Internal Revenue Code relating to business expensing; repealer

Summary

The bill would bring New York’s tax statutes back into conformity with certain sections of the Internal Revenue Code that govern business expense deductions. It also repeals any state provisions that conflict with those federal rules. This change primarily impacts businesses and individual taxpayers who claim such deductions.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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