Income tax advisory opinions - 2024 (TSB-A)

TSB-A-24(1)I,(7)S

Petitioner asks whether a charge for service of organizing group travel exclusively for solo female travelers is subject to sales tax or personal income tax. 

TSB-A-24(2)I

Petitioner asks whether a payment he received from his former employer is tax-exempt retirement income.

TSB-A-24(3)I

Petitioner asks about the New York State ("NYS") tax consequences where a withdrawal is made from the New York City Superior Officers Council Annuity Trust Fund ("SOCA Fund") that contains a rollover from the Police Superior Officers' Variable Supplements Fund ("VSF") Deferred Retirement Option Plan ("VSF DROP Fund"); and the NYS taxation of a withdrawal from an Individual Retirement Account ("IRA") that contains a rollover from the SOCA Fund that contains a rollover from the VSF DROP Fund.

TSB-A-24(4)I

Petitioner asks whether distribution from Petitioner’s Thrift Savings Plan (“TSP”) is subject to New York State income tax; and, whether a distribution from an Individual Retirement Account (“IRA”) funded solely with funds from Petitioner’s TSP after retirement by a rollover distribution from the TSP into the IRA may be subtracted from federal adjusted gross income (“FAGI”) in determining New York adjusted gross income ("NYAGI”) under Tax Law § 612(c)(3)(ii).

TSB-A-24(5)I

Petitioner asks whether he and his wife are allowed to carry over charitable deductions that exceed limits based on their New York State adjusted gross income (NYAGI) to subsequent tax years on their personal income tax returns.

TSB-A-24(6)I

TSB-A-24(7)I

Petitioner asks whether it is subject to withholding New York State personal income tax on payments made to an Italian citizen and resident, who is a non-employee member of the company’s board of directors (“Foreign Board Member”).

TSB-A-24(8)I

Petitioner asks whether a distribution of funds from a tax deferred annuity (TDA), administered by the Teachers’ Retirement System of New York City (TRS NYC), is exempt from New York State and New York City income taxes under two scenarios: (1) the beneficiaries take a lump sum distribution from the TRS NYC TDA after the death of the annuity owner, and (2) the beneficiaries take distributions after rolling over TRS NYC TDA funds from the decedent account owner to an inherited individual retirement account (IRA), which distributions may include earnings accrued after TDA funds are rolled over to the IRA.

TSB-A-24(9)I

Petitioner asks 1) how much compensation, if any, should be sourced to New York State and New York City (“NYS/NYC”) in taxable year 2018, for bonus compensation received by Petitioner in February 2019, for services performed in 2018 when Petitioner was a NYS/NYC part-year resident; and 2) how much compensation, if any, should be sourced to NYS/NYC in 2018, for restricted stock units granted to Petitioner when Petitioner was a nonresident of NYS/NYC, but vested when Petitioner was a resident of NYS/NYC.

TSB-A-24(10)I

Petitioner asks whether a distribution from an Individual Retirement Account (“IRA”) funded solely with funds from Petitioner’s Thrift Savings Plan (“TSP”) after retirement by a rollover distribution from the TSP into the IRA may be subtracted from federal adjusted gross income (“FAGI”) in determining New York adjusted gross income ("NYAGI”) under Tax Law § 612(c)(3)(ii).

TSB-A-24(11)I

The issue is whether distributions to Petitioner from a partnership agreement are: 1) “retirement income” under 4 USC § 114(b)(1); 2) annuity payments; or 3) exempt from New York personal income tax under the Tax Law.

TSB-A-24(12)I

Petitioners ask whether the Department can waive the statute of limitations with respect to refund claims filed by Petitioners more than three years after their returns were filed.

TSB-A-24(13)I

Petitioner asks if its individual resident members/partners are allowed a subtraction modification when computing their New York adjusted gross income (“NYAGI”) for their distributive share of payroll expenses that were required to be added back on Petitioner’s Form 1065 U.S. Return for Partnership Income (“Form 1065”) when Petitioner claimed an Internal Revenue Code (“IRC”) § 41(d) increasing research activities credit (“research credit”).

TSB-A-24(14)I

Petitioner asks if distributions from Petitioner’s Federal Employees’ Retirement Thrift Savings Plan (“TSP”) attributable to contributions made by the Federal Government and Petitioner are allowed to be subtracted from federal adjusted gross income (“FAGI”) in determining New York adjusted gross income (“NYAGI”) under Tax Law § 612(c)(3)(ii) when Petitioner receives distributions, other than by a lump sum, from the TSP.