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S T A T E O F N E W Y O R K
________________________________________________________________________
11253
I N A S S E M B L Y
May 4, 2026
___________
Introduced by M. of A. SMULLEN -- read once and referred to the Commit-
tee on Ways and Means
AN ACT to amend the tax law, in relation to the personal income tax
rate; and to repeal certain provisions of such law relating thereto
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subsection (a) of section 601 of the tax law is REPEALED
2 and a new subsection (a) is added to read as follows:
3 (A) RESIDENT MARRIED INDIVIDUALS FILING JOINT RETURNS AND RESIDENT
4 SURVIVING SPOUSES. THERE IS HEREBY IMPOSED FOR EACH TAXABLE YEAR ON THE
5 NEW YORK TAXABLE INCOME OF EVERY RESIDENT MARRIED INDIVIDUAL WHO MAKES A
6 SINGLE RETURN JOINTLY WITH THEIR SPOUSE UNDER SUBSECTION (B) OF SECTION
7 SIX HUNDRED FIFTY-ONE OF THIS ARTICLE AND ON THE NEW YORK TAXABLE INCOME
8 OF EVERY RESIDENT SURVIVING SPOUSE A TAX DETERMINED IN ACCORDANCE WITH
9 THE FOLLOWING TABLES:
10 (1) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-SIX, THE
11 FOLLOWING RATES SHALL APPLY:
12 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
13 NOT OVER $10,000 $0
14 OVER $10,000 BUT NOT OVER $500,000 4% OF EXCESS OVER $10,000
15 OVER $500,000 BUT NOT OVER $19,600 PLUS 5% OF EXCESS OVER
16 $2,155,350 $500,000
17 OVER $2,155,350 BUT NOT OVER $102,367.50 PLUS 9.65% OF EXCESS
18 $5,000,000 OVER $2,155,350
19 OVER $5,000,000 BUT NOT OVER $376,876.23 PLUS 10.30% OF
20 $25,000,000 EXCESS OVER $5,000,000
21 OVER $25,000,000 $2,436,876.23 PLUS 10.90% OF
22 EXCESS OVER $25,000,000
23 (2) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-SEVEN, THE
24 FOLLOWING RATES SHALL APPLY:
25 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
26 NOT OVER $20,000 $0
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14609-02-6
A. 11253 2
1 OVER $20,000 BUT NOT OVER $500,000 4% OF EXCESS OVER $20,000
2 OVER $500,000 BUT NOT OVER $19,200 PLUS 5% OF EXCESS OVER
3 $2,155,350 $500,000
4 OVER $2,155,350 BUT NOT OVER $101,967.50 PLUS 9.65% OF EXCESS
5 $5,000,000 OVER $2,155,350
6 OVER $5,000,000 BUT NOT OVER $376,476.23 PLUS 10.30% OF
7 $25,000,000 EXCESS OVER $5,000,000
8 OVER $25,000,000 $2,436,476.23 PLUS 10.90% OF
9 EXCESS OVER $25,000,000
10 (3) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-EIGHT, THE
11 FOLLOWING RATES SHALL APPLY:
12 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
13 NOT OVER $30,000 $0
14 OVER $30,000 BUT NOT OVER 4% OF EXCESS OVER
15 $500,000 $30,000
16 OVER $500,000 BUT NOT OVER $18,800 PLUS 5% OF EXCESS
17 $2,155,350 OVER $500,000
18 OVER $2,155,350 BUT NOT OVER $101,567.50 PLUS 9.65% OF EXCESS
19 $5,000,000 OVER $2,155,350
20 OVER $5,000,000 BUT NOT OVER $376,076.23 PLUS 10.30% OF
21 $25,000,000 EXCESS OVER $5,000,000
22 OVER $25,000,000 $2,436,076.23 PLUS 10.90% OF
23 EXCESS OVER $25,000,000
24 (4) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-NINE, THE
25 FOLLOWING RATES SHALL APPLY:
26 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
27 NOT OVER $40,000 $0
28 OVER $40,000 BUT NOT OVER 4% OF EXCESS OVER
29 $500,000 $40,000
30 OVER $500,000 BUT NOT OVER $18,400 PLUS 5% OF EXCESS
31 $2,155,350 OVER $500,000
32 OVER $2,155,350 BUT NOT OVER $101,167.50 PLUS 9.65% OF EXCESS
33 $5,000,000 OVER $2,155,350
34 OVER $5,000,000 BUT NOT OVER $375,676.23 PLUS 10.30% OF
35 $25,000,000 EXCESS OVER $5,000,000
36 OVER $25,000,000 $2,435,676.23 PLUS 10.90% OF
37 EXCESS OVER $25,000,000
38 (5) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY, THE FOLLOWING
39 RATES SHALL APPLY:
40 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
41 NOT OVER $50,000 $0
42 OVER $50,000 BUT NOT OVER $500,000 4% OF EXCESS OVER $50,000
43 OVER $500,000 BUT NOT OVER $18,000 PLUS 5% OF EXCESS
44 $2,155,350 OVER $500,000
45 OVER $2,155,350 BUT NOT OVER $100,767.50 PLUS 9.65% OF
46 $5,000,000 EXCESS OVER $2,155,350
47 OVER $5,000,000 BUT NOT OVER $375,276.23 PLUS 10.30% OF EXCESS OVER
48 $25,000,000 $5,000,000
49 OVER $25,000,000 $2,435,276.23 PLUS 10.90% OF
50 EXCESS OVER $25,000,000
51 (6) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-ONE, THE
52 FOLLOWING RATES SHALL APPLY:
A. 11253 3
1 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
2 NOT OVER $60,000 $0
3 OVER $60,000 BUT NOT OVER 4% OF EXCESS OVER
4 $500,000 $60,000
5 OVER $500,000 BUT NOT OVER $17,600 PLUS 5% OF EXCESS
6 $2,155,350 OVER $500,000
7 OVER $2,155,350 BUT NOT OVER $100,367.50 PLUS 9.65% OF
8 $5,000,000 EXCESS OVER $2,155,350
9 OVER $5,000,000 BUT NOT OVER $374,876.23 PLUS 10.30% OF
10 $25,000,000 EXCESS OVER $5,000,000
11 OVER $25,000,000 $2,434,876.23 PLUS 10.90% OF
12 EXCESS OVER $25,000,000
13 (7) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-TWO, THE
14 FOLLOWING RATES SHALL APPLY:
15 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
16 NOT OVER $70,000 $0
17 OVER $70,000 BUT NOT OVER 4% OF EXCESS OVER
18 $500,000 $70,000
19 OVER $500,000 BUT NOT OVER $17,200 PLUS 5% OF EXCESS
20 $2,155,350 OVER $500,000
21 OVER $2,155,350 BUT NOT OVER $99,967.50 PLUS 9.65% OF
22 $5,000,000 EXCESS OVER $2,155,350
23 OVER $5,000,000 BUT NOT OVER $374,476.23 PLUS 10.30% OF
24 $25,000,000 EXCESS OVER $5,000,000
25 OVER $25,000,000 $2,434,476.23 PLUS 10.90% OF
26 EXCESS OVER $25,000,000
27 (8) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-THREE, THE
28 FOLLOWING RATES SHALL APPLY:
29 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
30 NOT OVER $80,000 $0
31 OVER $80,000 BUT NOT OVER 4% OF EXCESS OVER
32 $500,000 $80,000
33 OVER $500,000 BUT NOT OVER $16,800 PLUS 5% OF EXCESS
34 $2,155,350 OVER $500,000
35 OVER $2,155,350 $99,567.50 PLUS 8.82% OF
36 EXCESS OVER $2,155,350
37 (9) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-FOUR, THE
38 FOLLOWING RATES SHALL APPLY:
39 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
40 NOT OVER $90,000 $0
41 OVER $90,000 BUT NOT OVER 4% OF EXCESS OVER
42 $500,000 $90,000
43 OVER $500,000 BUT NOT OVER $16,400 PLUS 5% OF EXCESS
44 $2,155,350 OVER $500,000
45 OVER $2,155,350 $99,167.50 PLUS 8.82% OF
46 EXCESS OVER $2,155,350
47 (10) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-FIVE, THE
48 FOLLOWING RATES SHALL APPLY:
49 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
50 NOT OVER $100,000 $0
51 OVER $100,000 BUT NOT OVER 4% OF EXCESS OVER
52 $500,000 $100,000
A. 11253 4
1 OVER $500,000 BUT NOT OVER $16,000 PLUS 5% OF EXCESS
2 $2,155,350 OVER $500,000
3 OVER $2,155,350 $98,767.50 PLUS 8.82% OF
4 EXCESS OVER $2,155,350
5 § 2. Subsection (b) of section 601 of the tax law is REPEALED and a
6 new subsection (b) is added to read as follows:
7 (B) RESIDENT HEADS OF HOUSEHOLDS. THERE IS HEREBY IMPOSED FOR EACH
8 TAXABLE YEAR ON THE NEW YORK TAXABLE INCOME OF EVERY RESIDENT HEAD OF A
9 HOUSEHOLD A TAX DETERMINED IN ACCORDANCE WITH THE FOLLOWING TABLES:
10 (1) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-SIX, THE
11 FOLLOWING RATES SHALL APPLY:
12 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
13 NOT OVER $7,500 $0
14 OVER $7,500 BUT NOT OVER 4% OF EXCESS OVER
15 $300,000 $7,500
16 OVER $300,000 BUT NOT OVER $11,700 PLUS 5% OF EXCESS
17 $1,616,450 OVER $300,000
18 OVER $1,616,450 BUT NOT OVER $77,522.50 PLUS 9.65% OF
19 $5,000,000 EXCESS OVER $1,616,450
20 OVER $5,000,000 BUT NOT OVER $404,035.08 PLUS 10.30% OF
21 $25,000,000 EXCESS OVER $5,000,000
22 OVER $25,000,000 $2,464,035.08 PLUS 10.90% OF
23 EXCESS OVER $25,000,000
24 (2) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-SEVEN, THE
25 FOLLOWING RATES SHALL APPLY:
26 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
27 NOT OVER $15,000 $0
28 OVER $15,000 BUT NOT OVER 4% OF EXCESS OVER
29 $300,000 $15,000
30 OVER $300,000 BUT NOT OVER $11,400 PLUS 5% OF EXCESS
31 $1,616,450 OVER $300,000
32 OVER $1,616,450 BUT NOT OVER $77,222.50 PLUS 9.65% OF
33 $5,000,000 EXCESS OVER $1,616,450
34 OVER $5,000,000 BUT NOT OVER $403,735.08 PLUS 10.30% OF
35 $25,000,000 EXCESS OVER $5,000,000
36 OVER $25,000,000 $2,463,735.08 PLUS 10.90% OF
37 EXCESS OVER $25,000,000
38 (3) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-EIGHT, THE
39 FOLLOWING RATES SHALL APPLY:
40 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
41 NOT OVER $22,500 $0
42 OVER $22,500 BUT NOT OVER 4% OF EXCESS OVER
43 $300,000 $22,500
44 OVER $300,000 BUT NOT OVER $11,100 PLUS 5% OF EXCESS
45 $1,616,450 OVER $300,000
46 OVER $1,616,450 BUT NOT OVER $76,922.50 PLUS 9.65% OF
47 $5,000,000 EXCESS OVER $1,616,450
48 OVER $5,000,000 BUT NOT OVER $403,435.08 PLUS 10.30% OF
49 $25,000,000 EXCESS OVER $5,000,000
50 OVER $25,000,000 $2,463,435.08 PLUS 10.90% OF
51 EXCESS OVER $25,000,000
52 (4) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-NINE, THE
53 FOLLOWING RATES SHALL APPLY:
A. 11253 5
1 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
2 NOT OVER $30,000 $0
3 OVER $30,000 BUT NOT OVER 4% OF EXCESS OVER
4 $300,000 $30,000
5 OVER $300,000 BUT NOT OVER $10,800 PLUS 5% OF EXCESS
6 $1,616,450 OVER $300,000
7 OVER $1,616,450 BUT NOT OVER $76,622.50 PLUS 9.65% OF
8 $5,000,000 EXCESS OVER $1,616,450
9 OVER $5,000,000 BUT NOT OVER $403,135.08 PLUS 10.30% OF
10 $25,000,000 EXCESS OVER $5,000,000
11 OVER $25,000,000 $2,463,135.08 PLUS 10.90% OF
12 EXCESS OVER $25,000,000
13 (5) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY, THE FOLLOWING
14 RATES SHALL APPLY:
15 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
16 NOT OVER $37,500 $0
17 OVER $37,500 BUT NOT OVER 4% OF EXCESS OVER
18 $300,000 $37,500
19 OVER $300,000 BUT NOT OVER $10,500 PLUS 5% OF EXCESS
20 $1,616,450 OVER $300,000
21 OVER $1,616,450 BUT NOT OVER $76,322.50 PLUS 9.65% OF
22 $5,000,000 EXCESS OVER $1,616,450
23 OVER $5,000,000 BUT NOT OVER $402,835.08 PLUS 10.30% OF
24 $25,000,000 EXCESS OVER $5,000,000
25 OVER $25,000,000 $2,462,835.08 PLUS 10.90% OF
26 EXCESS OVER $25,000,000
27 (6) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-ONE, THE
28 FOLLOWING RATES SHALL APPLY:
29 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
30 NOT OVER $45,000 $0
31 OVER $45,000 BUT NOT OVER 4% OF EXCESS OVER
32 $300,000 $45,000
33 OVER $300,000 BUT NOT OVER $10,200 PLUS 5% OF EXCESS
34 $1,616,450 OVER $300,000
35 OVER $1,616,450 BUT NOT OVER $76,022.50 PLUS 9.65% OF
36 $5,000,000 EXCESS OVER $1,616,450
37 OVER $5,000,000 BUT NOT OVER $402,535.08 PLUS 10.30% OF
38 $25,000,000 EXCESS OVER $5,000,000
39 OVER $25,000,000 $2,462,535.08 PLUS 10.90% OF
40 EXCESS OVER $25,000,000
41 (7) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-TWO, THE
42 FOLLOWING RATES SHALL APPLY:
43 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
44 NOT OVER $52,500 $0
45 OVER $52,500 BUT NOT OVER 4% OF EXCESS OVER
46 $300,000 $52,500
47 OVER $300,000 BUT NOT OVER $9,900 PLUS 5% OF EXCESS
48 $1,616,450 OVER $300,000
49 OVER $1,616,450 BUT NOT OVER $75,722.50 PLUS 9.65% OF
50 $5,000,000 EXCESS OVER $1,616,450
51 OVER $5,000,000 BUT NOT OVER $402,235.08 PLUS 10.30% OF
52 $25,000,000 EXCESS OVER $5,000,000
53 OVER $25,000,000 $2,462,235.08 PLUS 10.90% OF
A. 11253 6
1 EXCESS OVER $25,000,000
2 (8) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-THREE, THE
3 FOLLOWING RATES SHALL APPLY:
4 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
5 NOT OVER $60,000 $0
6 OVER $60,000 BUT NOT OVER 4% OF EXCESS OVER
7 $300,000 $60,000
8 OVER $300,000 BUT NOT OVER $9,600 PLUS 5% OF EXCESS
9 $1,616,450 OVER $300,000
10 OVER $1,616,450 $75,422.50 PLUS 8.82% OF
11 EXCESS OVER $1,616,450
12 (9) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-FOUR, THE
13 FOLLOWING RATES SHALL APPLY:
14 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
15 NOT OVER $67,500 $0
16 OVER $67,500 BUT NOT OVER 4% OF EXCESS OVER
17 $300,000 $67,500
18 OVER $300,000 BUT NOT OVER $9,300 PLUS 5% OF EXCESS
19 $1,616,450 OVER $300,000
20 OVER $1,616,450 $75,122.50 PLUS 8.82% OF
21 EXCESS OVER $1,616,450
22 (10) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-FIVE, THE
23 FOLLOWING RATES SHALL APPLY:
24 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
25 NOT OVER $75,000 $0
26 OVER $75,000 BUT NOT OVER 4% OF EXCESS OVER
27 $300,000 $75,000
28 OVER $300,000 BUT NOT OVER $9,000 PLUS 5% OF EXCESS
29 $1,616,450 OVER $300,000
30 OVER $1,616,450 $74,822.50 PLUS 8.82% OF
31 EXCESS OVER $1,616,450
32 § 3. Subsection (c) of section 601 of the tax law is REPEALED and a
33 new subsection (c) is added to read as follows:
34 (C) RESIDENT UNMARRIED INDIVIDUALS, ESTATES AND TRUSTS. THERE IS HERE-
35 BY IMPOSED FOR EACH TAXABLE YEAR ON THE NEW YORK TAXABLE INCOME OF EVERY
36 RESIDENT INDIVIDUAL WHO IS NOT A MARRIED INDIVIDUAL OR A HEAD OF A
37 HOUSEHOLD, AND ON THE NEW YORK TAXABLE INCOME OF EVERY ESTATE AND TRUST
38 A TAX DETERMINED IN ACCORDANCE WITH THE FOLLOWING TABLES:
39 (1) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-SIX, THE
40 FOLLOWING RATES SHALL APPLY:
41 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
42 NOT OVER $5,000 $0
43 OVER $5,000 BUT NOT OVER 4% OF EXCESS OVER $5,000
44 $250,000
45 OVER $250,000 BUT NOT OVER $9,800 PLUS 5% OF EXCESS
46 $1,077,550 OVER $250,000
47 OVER $1,077,550 BUT NOT OVER $51,177.50 PLUS 9.65% OF EXCESS
48 $5,000,000 OVER $1,077,550
49 OVER $5,000,000 BUT NOT OVER $429,693.93 PLUS 10.30% OF
50 $25,000,000 EXCESS OVER $5,000,000
51 OVER $25,000,000 $2,489,693.92 PLUS 10.90% OF
52 EXCESS OVER $25,000,000
A. 11253 7
1 (2) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-SEVEN, THE
2 FOLLOWING RATES SHALL APPLY:
3 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
4 NOT OVER $10,000 $0
5 OVER $10,000 BUT NOT OVER 4% OF EXCESS OVER
6 $250,000 $10,000
7 OVER $250,000 BUT NOT OVER $9,600 PLUS 5% OF EXCESS
8 $1,077,550 OVER $250,000
9 OVER $1,077,550 BUT NOT OVER $50,977.50 PLUS 9.65% OF EXCESS
10 $5,000,000 OVER $1,077,550
11 OVER $5,000,000 BUT NOT OVER $429,493.93 PLUS 10.30% OF
12 $25,000,000 EXCESS OVER $5,000,000
13 OVER $25,000,000 $2,489,493.92 PLUS 10.90% OF
14 EXCESS OVER $25,000,000
15 (3) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-EIGHT, THE
16 FOLLOWING RATES SHALL APPLY:
17 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
18 NOT OVER $15,000 $0
19 OVER $15,000 BUT NOT OVER 4% OF EXCESS OVER
20 $250,000 $15,000
21 OVER $250,000 BUT NOT OVER $9,400 PLUS 5% OF EXCESS
22 $1,077,550 OVER $250,000
23 OVER $1,077,550 BUT NOT OVER $50,777.50 PLUS 9.65% OF EXCESS
24 $5,000,000 OVER $1,077,550
25 OVER $5,000,000 BUT NOT OVER $429,293.93 PLUS 10.30% OF
26 $25,000,000 EXCESS OVER $5,000,000
27 OVER $25,000,000 $2,489,293.92 PLUS 10.90% OF
28 EXCESS OVER $25,000,000
29 (4) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-NINE, THE
30 FOLLOWING RATES SHALL APPLY:
31 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
32 NOT OVER $20,000 $0
33 OVER $20,000 BUT NOT OVER 4% OF EXCESS OVER
34 $250,000 $20,000
35 OVER $250,000 BUT NOT OVER $9,200 PLUS 5% OF EXCESS
36 $1,077,550 OVER $250,000
37 OVER $1,077,550 BUT NOT OVER $50,577.50 PLUS 9.65% OF EXCESS
38 $5,000,000 OVER $1,077,550
39 OVER $5,000,000 BUT NOT OVER $429,093.93 PLUS 10.30% OF
40 $25,000,000 EXCESS OVER $5,000,000
41 OVER $25,000,000 $2,489,093.92 PLUS 10.90% OF
42 EXCESS OVER $25,000,000
43 (5) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY, THE FOLLOWING
44 RATES SHALL APPLY:
45 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
46 NOT OVER $25,000 $0
47 OVER $25,000 BUT NOT OVER 4% OF EXCESS OVER
48 $250,000 $25,000
49 OVER $250,000 BUT NOT OVER $9,000 PLUS 5% OF EXCESS
50 $1,077,550 OVER $250,000
51 OVER $1,077,550 BUT NOT OVER $50,377.50 PLUS 9.65% OF EXCESS
52 $5,000,000 OVER $1,077,550
A. 11253 8
1 OVER $5,000,000 BUT NOT OVER $428,893.93 PLUS 10.30% OF
2 $25,000,000 EXCESS OVER $5,000,000
3 OVER $25,000,000 $2,488,893.92 PLUS 10.90% OF
4 EXCESS OVER $25,000,000
5 (6) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-ONE, THE
6 FOLLOWING RATES SHALL APPLY:
7 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
8 NOT OVER $30,000 $0
9 OVER $30,000 BUT NOT OVER 4% OF EXCESS OVER
10 $250,000 $30,000
11 OVER $250,000 BUT NOT OVER $8,800 PLUS 5% OF EXCESS
12 $1,077,550 OVER $250,000
13 OVER $1,077,550 BUT NOT OVER $50,177.50 PLUS 9.65% OF EXCESS
14 $5,000,000 OVER $1,077,550
15 OVER $5,000,000 BUT NOT OVER $428,693.93 PLUS 10.30% OF
16 $25,000,000 EXCESS OVER $5,000,000
17 OVER $25,000,000 $2,488,693.92 PLUS 10.90% OF
18 EXCESS OVER $25,000,000
19 (7) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-TWO, THE
20 FOLLOWING RATES SHALL APPLY:
21 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
22 NOT OVER $35,000 $0
23 OVER $35,000 BUT NOT OVER 4% OF EXCESS OVER
24 $250,000 $35,000
25 OVER $250,000 BUT NOT OVER $8,600 PLUS 5% OF EXCESS
26 $1,077,550 OVER $250,000
27 OVER $1,077,550 BUT NOT OVER $49,977.50 PLUS 9.65% OF EXCESS
28 $5,000,000 OVER $1,077,550
29 OVER $5,000,000 BUT NOT OVER $428,493.93 PLUS 10.30% OF
30 $25,000,000 EXCESS OVER $5,000,000
31 OVER $25,000,000 $2,488,493.92 PLUS 10.90% OF
32 EXCESS OVER $25,000,000
33 (8) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-THREE, THE
34 FOLLOWING RATES SHALL APPLY:
35 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
36 NOT OVER $40,000 $0
37 OVER $40,000 BUT NOT OVER 4% OF EXCESS OVER
38 $250,000 $40,000
39 OVER $250,000 BUT NOT OVER $8,400 PLUS 5% OF EXCESS
40 $1,077,550 OVER $250,000
41 OVER $1,077,550 $49,777.50 PLUS 8.82% OF EXCESS
42 OVER $1,077,550
43 (9) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-FOUR, THE
44 FOLLOWING RATES SHALL APPLY:
45 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
46 NOT OVER $45,000 $0
47 OVER $45,000 BUT NOT OVER 4% OF EXCESS OVER
48 $250,000 $45,000
49 OVER $250,000 BUT NOT OVER $8,200 PLUS 5% OF EXCESS
50 $1,077,550 OVER $250,000
51 OVER $1,077,550 $49,577.50 PLUS 8.82% OF EXCESS
52 OVER $1,077,550
A. 11253 9
1 (10) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-FIVE, THE
2 FOLLOWING RATES SHALL APPLY:
3 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
4 NOT OVER $50,000 $0
5 OVER $50,000 BUT NOT OVER 4% OF EXCESS OVER
6 $250,000 $50,000
7 OVER $250,000 BUT NOT OVER $8,000 PLUS 5% OF EXCESS
8 $1,077,550 OVER $250,000
9 OVER $1,077,550 $49,377.50 PLUS 8.82% OF EXCESS
10 OVER $1,077,550
11 § 4. Subsection (d) of section 601 of the tax law is REPEALED and a
12 new subsection (d) is added to read as follows:
13 (D) RESIDENT MARRIED INDIVIDUALS FILING SEPARATE RETURNS. THERE IS
14 HEREBY IMPOSED FOR EACH TAXABLE YEAR ON THE NEW YORK TAXABLE INCOME OF
15 EVERY MARRIED INDIVIDUAL WHO IS A RESIDENT AND WHO DOES NOT MAKE A
16 SINGLE RETURN JOINTLY WITH THEIR SPOUSE UNDER SUBSECTION (B) OF SECTION
17 SIX HUNDRED FIFTY-ONE OF THIS ARTICLE A TAX DETERMINED IN ACCORDANCE
18 WITH THE FOLLOWING TABLES:
19 (1) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-SIX, THE
20 FOLLOWING RATES SHALL APPLY:
21 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
22 NOT OVER $5,000 $0
23 OVER $5,000 BUT NOT OVER 4% OF EXCESS OVER
24 $250,000 $5,000
25 OVER $250,000 BUT NOT OVER $9,800 PLUS 5% OF EXCESS
26 $1,077,550 OVER $250,000
27 OVER $1,077,550 BUT NOT OVER $51,177.50 PLUS 9.65% OF EXCESS
28 $5,000,000 OVER $1,077,550
29 OVER $5,000,000 BUT NOT OVER $429,693.93 PLUS 10.30% OF
30 $25,000,000 EXCESS OVER $5,000,000
31 OVER $25,000,000 $2,489,693.92 PLUS 10.90% OF
32 EXCESS OVER $25,000,000
33 (2) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-SEVEN, THE
34 FOLLOWING RATES SHALL APPLY:
35 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
36 NOT OVER $10,000 $0
37 OVER $10,000 BUT NOT OVER 4% OF EXCESS OVER
38 $250,000 $10,000
39 OVER $250,000 BUT NOT OVER $9,600 PLUS 5% OF EXCESS
40 $1,077,550 OVER $250,000
41 OVER $1,077,550 BUT NOT OVER $50,977.50 PLUS 9.65% OF EXCESS
42 $5,000,000 OVER $1,077,550
43 OVER $5,000,000 BUT NOT OVER $429,493.93 PLUS 10.30% OF
44 $25,000,000 EXCESS OVER $5,000,000
45 OVER $25,000,000 $2,489,493.92 PLUS 10.90% OF
46 EXCESS OVER $25,000,000
47 (3) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-EIGHT, THE
48 FOLLOWING RATES SHALL APPLY:
49 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
50 NOT OVER $15,000 $0
51 OVER $15,000 BUT NOT OVER 4% OF EXCESS OVER
52 $250,000 $15,000
A. 11253 10
1 OVER $250,000 BUT NOT OVER $9,400 PLUS 5% OF EXCESS
2 $1,077,550 OVER $250,000
3 OVER $1,077,550 BUT NOT OVER $50,777.50 PLUS 9.65% OF EXCESS
4 $5,000,000 OVER $1,077,550
5 OVER $5,000,000 BUT NOT OVER $429,293.93 PLUS 10.30% OF
6 $25,000,000 EXCESS OVER $5,000,000
7 OVER $25,000,000 $2,489,293.92 PLUS 10.90% OF
8 EXCESS OVER $25,000,000
9 (4) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-NINE, THE
10 FOLLOWING RATES SHALL APPLY:
11 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
12 NOT OVER $20,000 $0
13 OVER $20,000 BUT NOT OVER 4% OF EXCESS OVER
14 $250,000 $20,000
15 OVER $250,000 BUT NOT OVER $9,200 PLUS 5% OF EXCESS
16 $1,077,550 OVER $250,000
17 OVER $1,077,550 BUT NOT OVER $50,577.50 PLUS 9.65% OF EXCESS
18 $5,000,000 OVER $1,077,550
19 OVER $5,000,000 BUT NOT OVER $429,093.93 PLUS 10.30% OF
20 $25,000,000 EXCESS OVER $5,000,000
21 OVER $25,000,000 $2,489,093.92 PLUS 10.90% OF
22 EXCESS OVER $25,000,000
23 (5) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY, THE FOLLOWING
24 RATES SHALL APPLY:
25 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
26 NOT OVER $25,000 $0
27 OVER $25,000 BUT NOT OVER 4% OF EXCESS OVER
28 $250,000 $25,000
29 OVER $250,000 BUT NOT OVER $9,000 PLUS 5% OF EXCESS
30 $1,077,550 OVER $250,000
31 OVER $1,077,550 BUT NOT OVER $50,377.50 PLUS 9.65% OF EXCESS
32 $5,000,000 OVER $1,077,550
33 OVER $5,000,000 BUT NOT OVER $428,893.93 PLUS 10.30% OF
34 $25,000,000 EXCESS OVER $5,000,000
35 OVER $25,000,000 $2,488,893.92 PLUS 10.90% OF
36 EXCESS OVER $25,000,000
37 (6) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-ONE, THE
38 FOLLOWING RATES SHALL APPLY:
39 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
40 NOT OVER $30,000 $0
41 OVER $30,000 BUT NOT OVER 4% OF EXCESS OVER
42 $250,000 $30,000
43 OVER $250,000 BUT NOT OVER $8,800 PLUS 5% OF EXCESS
44 $1,077,550 OVER $250,000
45 OVER $1,077,550 BUT NOT OVER $50,177.50 PLUS 9.65% OF EXCESS
46 $5,000,000 OVER $1,077,550
47 OVER $5,000,000 BUT NOT OVER $428,693.93 PLUS 10.30% OF
48 $25,000,000 EXCESS OVER $5,000,000
49 OVER $25,000,000 $2,488,693.92 PLUS 10.90% OF
50 EXCESS OVER $25,000,000
51 (7) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-TWO, THE
52 FOLLOWING RATES SHALL APPLY:
A. 11253 11
1 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
2 NOT OVER $35,000 $0
3 OVER $35,000 BUT NOT OVER 4% OF EXCESS OVER
4 $250,000 $35,000
5 OVER $250,000 BUT NOT OVER $8,600 PLUS 5% OF EXCESS
6 $1,077,550 OVER $250,000
7 OVER $1,077,550 BUT NOT OVER $49,977.50 PLUS 9.65% OF EXCESS
8 $5,000,000 OVER $1,077,550
9 OVER $5,000,000 BUT NOT OVER $428,493.93 PLUS 10.30% OF
10 $25,000,000 EXCESS OVER $5,000,000
11 OVER $25,000,000 $2,488,493.92 PLUS 10.90% OF
12 EXCESS OVER $25,000,000
13 (8) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-THREE, THE
14 FOLLOWING RATES SHALL APPLY:
15 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
16 NOT OVER $40,000 $0
17 OVER $40,000 BUT NOT OVER 4% OF EXCESS OVER
18 $250,000 $40,000
19 OVER $250,000 BUT NOT OVER $8,400 PLUS 5% OF EXCESS
20 $1,077,550 OVER $250,000
21 OVER $1,077,550 $49,777.50 PLUS 8.82% OF EXCESS
22 OVER $1,077,550
23 (9) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-FOUR, THE FOLLOW-
24 ING RATES SHALL APPLY:
25 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
26 NOT OVER $45,000 $0
27 OVER $45,000 BUT NOT OVER 4% OF EXCESS OVER
28 $250,000 $45,000
29 OVER $250,000 BUT NOT OVER $8,200 PLUS 5% OF EXCESS
30 $1,077,550 OVER $250,000
31 OVER $1,077,550 $49,577.50 PLUS 8.82% OF EXCESS
32 OVER $1,077,550
33 (10) FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND THIRTY-FIVE, THE
34 FOLLOWING RATES SHALL APPLY:
35 IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
36 NOT OVER $50,000 $0
37 OVER $50,000 BUT NOT OVER 4% OF EXCESS OVER
38 $250,000 $50,000
39 OVER $250,000 BUT NOT OVER $8,000 PLUS 5% OF EXCESS
40 $1,077,550 OVER $250,000
41 OVER $1,077,550 $49,377.50 PLUS 8.82% OF EXCESS
42 OVER $1,077,550
43 § 5. The opening paragraph of subsection (d-4) of section 601 of the
44 tax law is REPEALED.
45 § 6. Subsections (d-5), (d-6) and (d-7) of section 601 of the tax law
46 are REPEALED.
47 § 7. This act shall take effect immediately.