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Research Center : Development

Nov 01,2006 | Deloitte

New York Update on Proposed Equity Incentive Sourcing Rules For New York Tax Treatment of Nonresidents

This is an update to [Deloitte's] Global Equity Update of September 2006. Responding to a recent decision in Matter of Stuckless, N.Y. Tax App. Trib. (8/17/06), which addressed the allocation of income from stock options exercised by a nonresident, on October 10, 2006 the New York State Department of Taxation & Finance issued a proposed allocation rule for certain nonresidents and part-year residents who are granted stock options, stock appreciation rights, or restricted stock. The regulations apply to 2006 and subsequent years. The Department has also announced its policy for 2005 and earlier years that are open under the statute of limitations.

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