2006 New York Code - Separate Tax On The Ordinary Income Portion Of Lump Sum Distributions.

 
    §  603.  Separate  tax  on  the  ordinary  income  portion of lump sum
  distributions. * (a) Imposition of separate  tax.  In  addition  to  any
  other  tax  imposed  by  this  article, there is hereby imposed for each
  taxable year a separate tax on the ordinary income portion of a lump sum
  distribution of every individual, estate and trust  which  has  made  an
  election  of  lump  sum  treatment  under subsection (e) of section four
  hundred two of the internal revenue code. The recipient of  a  lump  sum
  distribution  shall  be  liable for the tax imposed by this section. The
  credits against tax under this article, except  for  the  credits  under
  paragraphs  two and four of subsection (d) and subsection (e) of section
  six hundred six, section six hundred twenty-A and  section  six  hundred
  seventy-three,  shall  not  be  allowed  against the tax imposed by this
  section.
    * NB Applicable to taxable years beginning after 1986.
    * (a) Imposition of separate tax. In addition to any other tax imposed
  by this article, there  is  hereby  imposed  for  each  taxable  year  a
  separate  tax  on the ordinary income portion of a lump sum distribution
  of every individual, estate and trust which has made an election of lump
  sum treatment under subsection (e) of section four hundred  two  of  the
  internal revenue code. The recipient of a lump sum distribution shall be
  liable  for  the  tax  imposed  by this section. The credits against tax
  under this article, except for the credits under paragraphs two and four
  of subsection (c),  paragraphs  two  and  four  of  subsection  (d)  and
  subsection  (e) of section six hundred six, section six hundred twenty-A
  and section six hundred seventy-three, shall not be allowed against  the
  tax imposed by this section.
    * NB Applies to taxable years beginning on or after January 1, 1996
    * (b) Cross reference. For computation of tax, see section six hundred
  twenty-four  with respect to residents and section six hundred forty-two
  with respect to nonresidents.
    * NB Applies to taxable years prior to 1988
    * (b) Cross reference. For computation of tax, see section six hundred
  twenty-four  with  respect  to  residents  and   section   six   hundred
  thirty-seven with respect to nonresidents and part-year residents.
    * NB Applies to taxable years beginning after 1987