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Department of Taxation and Finance

Resident Credit Against Separate Tax on Lump-Sum Distributions

Who is eligible?

You are entitled to this nonrefundable credit if:

  • you were a full-year or part-year resident individual of New York State, or a New York State resident estate or trust, or a part-year resident trust; 
  • the ordinary income portion of a lump-sum distribution you received (for example, from your employer's pension, stock bonus, or profit-sharing plan) was from a business, trade, profession, or occupation carried on in another state, a local government within another state, the District of Columbia, or a province of Canada; and
  • the distribution was taxed by that other jurisdiction.

Additional information

  • see Form IT-112.1, New York State Resident Credit Against Separate Tax on Lump-Sum Distributions.
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