N.Y. Tax Law Section 13
Exemption from taxation for victims or targets of Nazi persecution


§ 13.

(a)

Exemption from taxation for victims or targets of Nazi persecution. Notwithstanding any provision of law to the contrary, amounts received (including accumulated interest) by victims or targets of Nazi persecution from an eligible settlement fund, or from an eligible grantor trust established for the benefit of such victims or targets as set forth in this section, whether or not includable in income for federal income tax purposes, shall be exempt from all state and local taxes imposed on or measured by income. Provided however, that this exemption shall not apply to amounts received from assets acquired with such assets or with the proceeds from the sale of such assets. For the purposes of this section, “victims or targets of Nazi persecution” means any individual, corporation, partnership, sole proprietorship, unincorporated association, community, congregation, group, organization, or other entity persecuted or targeted for persecution by the Nazi Regime because of race, religion, ethnicity, sexual orientation, national origin, or physical or mental disability or handicap, or the heirs, successors, administrators, executors, affiliates, or assignees of such victims or targets, or any other claimant receiving funds from an eligible settlement fund, or from an eligible grantor trust established for the benefit of such victims or targets. An eligible settlement fund is an entity that is treated for federal income tax purposes as a designated or qualified settlement fund, as such term is defined in section 468B of the internal revenue code and the regulations thereunder, which is established for the principal purpose of resolving and satisfying claims arising from or in connection with any act or omission in any way relating to the Holocaust, World War II and its prelude and aftermath, victims or targets of Nazi persecution, transactions with or actions of the Nazi Regime, or treatment of refugees fleeing Nazi persecution by or in the Swiss Confederation. An eligible grantor trust is a grantor trust which is established for the principal purpose of resolving and satisfying such claims.

(b)

Exemption from taxation for qualified settlement funds established for the benefit of victims or targets of Nazi persecution by or in the Swiss Confederation. Notwithstanding any other provision of law to the contrary, an entity that is treated for federal income tax purposes as a designated or qualified settlement fund, as such term is defined in section 468B of the internal revenue code and the regulations thereunder, or a grantor trust, either of which is established for the principal purpose of resolving and satisfying claims arising from or in connection with any act or omission in any way relating to the Holocaust, World War II and its prelude and aftermath, victims or targets of Nazi persecution, transactions with or actions of the Nazi Regime, treatment of refugees fleeing Nazi persecution, by or in the Swiss Confederation, shall be exempt from all taxes imposed on or measured by income, the commercial rent tax imposed by the city of New York and all sales and use taxes whether imposed by the State or any local jurisdiction or municipality.

Source: Section 13 — Exemption from taxation for victims or targets of Nazi persecution, https://www.­nysenate.­gov/legislation/laws/TAX/13 (updated Sep. 22, 2014; accessed Jul. 20, 2024).

1
Short title
2
Definitions
3
Exemption from certain taxes granted to certain corporations engaged in the operation of vessels in foreign commerce
4
Exemption from certain excise and sales taxes granted to the United Nations
5
Obtaining and furnishing taxpayer identification information
5‑A
Certification of registration to collect sales and compensating use taxes by certain contractors, affiliates and subcontractors
6
Filing of warrants in the department of state
7
Inapplicability of certain money judgment enforcement procedures
8
Exemption from taxes granted to REMICs
9
Electronic funds transfer by certain taxpayers remitting withholding taxes
10
Electronic funds transfer by certain taxpayers remitting sales and compensating use taxes, prepaid sales and compensating use taxes on mo...
11
Certified capital companies
12
Internet
13
Exemption from taxation for victims or targets of Nazi persecution
14
Empire zones program
14‑A
IMB credit for energy taxes
15
QEZE credit for real property taxes
16
QEZE tax reduction credit
17
Empire zones tax benefits report
18
Low-income housing credit
19
Green building credit
20
Credit for transportation improvement contributions
21
Brownfield redevelopment tax credit
21*2
Disclosure of taxpayer information in cases involving abandoned property
22
Tax credit for remediated brownfields
23
Environmental remediation insurance credit
24
Empire state film production credit
24‑A
Musical and theatrical production credit
24‑B
Television writers’ and directors’ fees and salaries credit
24‑C
New York city musical and theatrical production tax credit
25
Disclosure of certain transactions and related information
26
Security training tax credit
27
Suspension of tax-exempt status of terrorist organizations
28
Empire state commercial production credit
28*2
Biofuel production credit
29
Mandatory electronic filing and payment
30
Bad check or failed electronic funds withdrawal fee
31
Excelsior jobs program credit
31*2
Empire state film post production credit
32
Registration of tax return preparers
33
Correction periods for electronic tax documents and payments
33*2
Temporary deferral of certain tax credits
34
Tax return preparers and software companies not to charge separately for New York e-file services
34*2
Temporary deferral payout credits
35
Use of electronic means of communication
35*2
Economic transformation and facility redevelopment program tax credit
36
Empire state jobs retention program credit
37
Alcoholic beverage production credit
38
New York innovation hot spot program tax benefits
38*2
Minimum wage reimbursement credit
39
Tax benefits for businesses located in tax-free NY areas and employees of such businesses
39‑A
Penalties for fraud in the START-UP NY program
40
The tax-free NY area tax elimination credit
41
Limitations on tax credit eligibility
42
Farm workforce retention credit
42‑A
Farm employer overtime credit
43
Life sciences research and development tax credit
43*2
Single member limited liability companies and eligibility for tax credits
44
Employer-provided child care credit
45
Empire state digital gaming media production credit
46
Restaurant return-to-work tax credit
46‑A
Additional restaurant return-to-work tax credit
47
COVID-19 capital costs tax credit
47*2
Grade no
47*3
Suspension of certain taxes on motor fuel and Diesel motor fuel
48
Child care creation and expansion tax credit
49
Newspaper and broadcast media jobs tax credit
49*2
Commercial security tax credit

Accessed:
Jul. 20, 2024

Last modified:
Sep. 22, 2014

§ 13’s source at nysenate​.gov

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