For taxable years beginning after 1987, a resident individual is allowed a New York exemption of $1,000 for each dependent exemption properly allowable to such individual under section 151(c) of the Internal Revenue Code. Such individual, or such individual's spouse, is not allowed a New York exemption for a personal exemption allowable under section 151(b) of the Internal Revenue Code.

Where a husband and wife file a joint Federal income tax return and also a joint New York State personal income tax return, they are allowed the same number of dependent exemptions on their joint New York State personal income tax return as they are allowed under section 151(c) of the Internal Revenue Code on their joint Federal income tax return. Likewise, where a husband and wife file separate Federal income tax returns, the same number of dependent exemptions are allowed on each separate New York State personal income tax return as are allowed under section 151(c) of the Internal Revenue Code on their respective separate Federal income tax returns. However, where a husband and wife file a joint Federal income tax return, but are required to file separate New York State personal income tax returns, each spouse is entitled to one New York dependent exemption for each Federal exemption he or she would have been entitled to under section 151(c) of the Internal Revenue Code of they had filed separate Federal income tax returns.