Multiple distributions and distributions of annuity contracts.
(f) Multiple distributions and distributions of annuity contracts. For purposes of this section, the rules concerning multiple distributions and distributions of annuity contracts as set forth in paragraph (2) of subsection (e) of section 402 of the Internal Revenue Code are applicable, except that:
(1)references therein to “paragraph (1)(A)” are deemed to be references to this section;#
(1) references therein to “paragraph (1)(A)” are deemed to be references to this section;
(2)reference therein to the “Secretary” are deemed to be references to the Tax Commission; and#
(2) reference therein to the “Secretary” are deemed to be references to the Tax Commission; and
(3)only lump sum distributions (or portions thereof) and distributions of annuity contracts subject to tax under section 601-C of the Tax Law ( i.e., lump sum distributions, or portions thereof, and distributions of annuity contracts received#
(3) only lump sum distributions (or portions thereof) and distributions of annuity contracts subject to tax under section 601-C of the Tax Law ( i.e., lump sum distributions, or portions thereof, and distributions of annuity contracts received by resident taxpayers on or after January 1, 1977) are to be included.