N.Y. Tax Law 1553 – Exemptions
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§ 1553. Exemptions. This article shall not apply to:
Terms Used In N.Y. Tax Law 1553
- Contract: A legal written agreement that becomes binding when signed.
- taxable insurance contract: means a contract of insurance of the kind described in subsection (a) of § 2105 of the insurance law. See N.Y. Tax Law 1550
(a) the government of the United States or any instrumentality thereof;
(b) the state of New York or any political subdivision, as such term is defined for purposes of section one hundred three of the internal revenue code, thereof;
(c) the United Nations or any other international organization of which the United States is a member;
(d) any foreign government;
(e) any taxable insurance contract procured through a New York licensed excess line broker in accordance with § 2118 of the insurance law; and
(f) any taxable insurance contract of the type described in subsections (b), (c) and (d) of § 2117 of the insurance law.