STATE OF NEW YORK
________________________________________________________________________
2747
2023-2024 Regular Sessions
IN ASSEMBLY
January 27, 2023
___________
Introduced by M. of A. J. A. GIGLIO -- read once and referred to the
Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to increasing the
base figure for the STAR exemption (Part A); and to amend the tax law,
in relation to adjusting certain rates for the imposition of personal
income tax (Part B)
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. This act enacts into law components of legislation relating
2 to the "Affordable NY act". Each component is wholly contained within a
3 Part identified as Parts A through B. The effective date for each
4 particular provision contained within such Part is set forth in the last
5 section of such Part. Any provision in any section contained within a
6 Part, including the effective date of the Part, which makes a reference
7 to a section "of this act", when used in connection with that particular
8 component, shall be deemed to mean and refer to the corresponding
9 section of the Part in which it is found. Section three of this act sets
10 forth the general effective date of this act.
11 PART A
12 Section 1. Subparagraph (vi) of paragraph (b) of subdivision 2 of
13 section 425 of the real property tax law, as added by section 1 of part
14 D-1 of chapter 57 of the laws of 2007, clause (A) as further amended by
15 subdivision (b) of section 1 of part W of chapter 56 of the laws of
16 2010, is amended to read as follows:
17 (vi) For the two thousand nine--two thousand ten school year [and
18 thereafter] through the two thousand twenty-three--two thousand twenty-
19 four school year:
20 (A) The base figure for the enhanced STAR exemption shall equal the
21 prior year's base figure multiplied by the percentage increase in the
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07166-01-3
A. 2747 2
1 consumer price index for urban wage earners and clerical workers (CPI-W)
2 published by the United States department of labor, bureau of labor
3 statistics, for the third quarter of the calendar year preceding the
4 applicable school year, as compared to the third quarter of the prior
5 calendar year. If a base figure as so determined is not exactly equal to
6 a multiple of one hundred dollars, it shall be rounded to the nearest
7 multiple of one hundred dollars. It shall be the responsibility of the
8 commissioner to annually determine such base figures.
9 (B) The base figure for the basic STAR exemption shall be thirty thou-
10 sand dollars.
11 § 2. Paragraph (b) of subdivision 2 of section 425 of the real proper-
12 ty tax law is amended by adding a new subparagraph (vii) to read as
13 follows:
14 (vii) For the two thousand twenty-three--two thousand twenty-four
15 school year and thereafter:
16 (A) The base figure for the enhanced STAR exemption shall equal the
17 prior year's base figure multiplied by the percentage increase in the
18 consumer price index for urban wage earners and clerical workers (CPI-W)
19 published by the United States department of labor, bureau of labor
20 statistics, for the third quarter of the calendar year preceding the
21 applicable school year, as compared to the third quarter of the prior
22 calendar year, multiplied by two. If a base figure as so determined is
23 not exactly equal to a multiple of one hundred dollars, it shall be
24 rounded to the nearest multiple of one hundred dollars. It shall be the
25 responsibility of the commissioner to annually determine such base
26 figures.
27 (B) The base figure for the basic STAR exemption shall be sixty thou-
28 sand dollars.
29 § 3. Subparagraph (i) of paragraph (a) of subdivision 2 of section
30 1306-a of the real property tax law, as amended by section 1 of part LL
31 of chapter 59 of the laws of 2019, is amended to read as follows:
32 (i) The tax savings for each parcel receiving the exemption authorized
33 by section four hundred twenty-five of this chapter shall be computed by
34 subtracting the amount actually levied against the parcel from the
35 amount that would have been levied if not for the exemption[, provided
36 however, that for the two thousand eleven-two thousand twelve through
37 two thousand eighteen-two thousand nineteen school years, the tax
38 savings applicable to any "portion" (which as used herein shall mean
39 that part of an assessing unit located within a school district) shall
40 not exceed the tax savings applicable to that portion in the prior
41 school year multiplied by one hundred two percent, with the result
42 rounded to the nearest dollar; and provided further that beginning with
43 the two thousand nineteen-two thousand twenty school year: (A) for
44 purposes of the exemption authorized by section four hundred twenty-five
45 of this chapter, the tax savings applicable to any portion shall not
46 exceed the tax savings for the prior year, and (B) for purposes of the
47 credit authorized by subsection (eee) of section six hundred six of the
48 tax law, the tax savings applicable to any portion shall not exceed the
49 tax savings applicable to that portion in the prior school year multi-
50 plied by one hundred two percent, with the result rounded to the nearest
51 dollar]. The tax savings attributable to the basic and enhanced
52 exemptions shall be calculated separately. It shall be the responsibil-
53 ity of the commissioner to calculate tax savings limitations for
54 purposes of this subdivision.
55 § 4. This act shall take effect immediately.
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1 PART B
2 Section 1. Paragraph 1 of subsection (a) of section 601 of the tax
3 law, as amended by section 1 of part FF of chapter 59 of the laws of
4 2013, subparagraph (B) as added by section 1 of part R of chapter 59 of
5 the laws of 2017, clause (iii) of subparagraph (B) as amended by section
6 1 of part P of chapter 59 of the laws of 2019, clauses (iv) and (v) of
7 subparagraph (B) as amended by section 1 of part A of chapter 59 of the
8 laws of 2021, and clauses (vi) and (vii) of subparagraph (B) as amended
9 by section 1 of subpart A of part A of chapter 59 of the laws of 2022,
10 is amended to read as follows:
11 (1) (A) For taxable years beginning after two thousand eleven and
12 before two thousand [eighteen] sixteen:
13 If the New York taxable income is: The tax is:
14 Not over $16,000 4% of taxable income
15 Over $16,000 but not over $22,000 $640 plus 4.5% of excess over
16 $16,000
17 Over $22,000 but not over $26,000 $910 plus 5.25% of excess over
18 $22,000
19 Over $26,000 but not over $40,000 $1,120 plus 5.90% of excess over
20 $26,000
21 Over $40,000 but not over $150,000 $1,946 plus 6.45% of excess over
22 $40,000
23 Over $150,000 but not over $300,000 $9,041 plus 6.65% of excess over
24 $150,000
25 Over $300,000 but not over $2,000,000 $19,016 plus 6.85% of excess over
26 $300,000
27 Over $2,000,000 $135,466 plus 8.82% of excess over
28 $2,000,000
29 (B)(i) For taxable years beginning in two thousand eighteen the
30 following rates shall apply:
31 If the New York taxable income is: The tax is:
32 Not over $17,150 4% of the New York taxable
33 income
34 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
35 $17,150
36 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
37 $23,600
38 Over $27,900 but not over $43,000 $1,202 plus 5.9% of excess over
39 $27,900
40 Over $43,000 but not over $161,550 $2,093 plus 6.33% of excess over
41 $43,000
42 Over $161,550 but not over $323,200 $9,597 plus 6.57% of excess over
43 $161,550
44 Over $323,200 but not over $2,155,350 $20,218 plus 6.85% of excess over
45 $323,200
46 Over $2,155,350 $145,720 plus 8.82% of excess over
47 $2,155,350
48 (ii) For taxable years beginning in two thousand nineteen the follow-
49 ing rates shall apply:
50 If the New York taxable income is: The tax is:
51 Not over $17,150 4% of the New York taxable
52 income
53 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
A. 2747 4
1 $17,150
2 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
3 $23,600
4 Over $27,900 but not over $43,000 $1,202 plus 5.9% of excess over
5 $27,900
6 Over $43,000 but not over $161,550 $2,093 plus 6.21% of excess over
7 $43,000
8 Over $161,550 but not over $323,200 $9,455 plus 6.49% of excess over
9 $161,550
10 Over $323,200 but not over $2,155,350 $19,946 plus 6.85% of excess over
11 $323,200
12 Over $2,155,350 $145,448 plus 8.82% of excess over
13 $2,155,350
14 (iii) For taxable years beginning in two thousand twenty the following
15 rates shall apply:
16 If the New York taxable income is: The tax is:
17 Not over $17,150 4% of the New York taxable income
18 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
19 $17,150
20 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
21 $23,600
22 Over $27,900 but not over $43,000 $1,202 plus 5.9% of excess over
23 $27,900
24 Over $43,000 but not over $161,550 $2,093 plus 6.09% of excess over
25 $43,000
26 Over $161,550 but not over $323,200 $9,313 plus 6.41% of excess over
27 $161,550
28 Over $323,200 but not over $19,674 plus 6.85% of excess
29 $2,155,350 over $323,200 [over]
30 Over $2,155,350 $145,177 plus 8.82% of excess over
31 $2,155,350
32 [(iv) For taxable years beginning in two thousand twenty-one the
33 following rates shall apply:
34 If the New York taxable income is: The tax is:
35 Not over $17,150 4% of the New York taxable income
36 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
37 $17,150
38 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
39 $23,600
40 Over $27,900 but not over $43,000 $1,202 plus 5.9% of excess over
41 $27,900
42 Over $43,000 but not over $161,550 $2,093 plus 5.97% of excess over
43 $43,000
44 Over $161,550 but not over $323,200 $9,170 plus 6.33% of excess over
45 $161,550
46 Over $323,200 but not over $19,403 plus 6.85% of excess
47 $2,155,350 over $323,200
48 Over $2,155,350 but not over $144,905 plus 9.65% of excess over
49 $5,000,000 $2,155,350
50 Over $5,000,000 but not over $419,414 plus 10.30% of excess over
51 $25,000,000 $5,000,000
52 Over $25,000,000 $2,479,414 plus 10.90% of excess over
53 $25,000,000
54 (v) For taxable years beginning in two thousand twenty-two the follow-
55 ing rates shall apply:
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1 If the New York taxable income is: The tax is:
2 Not over $17,150 4% of the New York taxable income
3 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
4 $17,150
5 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
6 $23,600
7 Over $27,900 but not over $161,550 $1,202 plus 5.85% of excess over
8 $27,900
9 Over $161,550 but not over $323,200 $9,021 plus 6.25% of excess over
10 $161,550
11 Over $323,200 but not over $19,124 plus
12 $2,155,350 6.85% of excess over $323,200
13 Over $2,155,350 but not over $144,626 plus 9.65% of excess over
14 $5,000,000 $2,155,350
15 Over $5,000,000 but not over $419,135 plus 10.30% of excess over
16 $25,000,000 $5,000,000
17 Over $25,000,000 $2,479,135 plus 10.90% of excess over
18 $25,000,000
19 (vi) For taxable years beginning in two thousand twenty-three and
20 before two thousand twenty-eight the following rates shall apply:
21 If the New York taxable income is: The tax is:
22 Not over $17,150 4% of the New York taxable income
23 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
24 $17,150
25 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
26 $23,600
27 Over $27,900 but not over $161,550 $1,202 plus 5.5% of excess over
28 $27,900
29 Over $161,550 but not over $323,200 $8,553 plus 6.00% of excess over
30 $161,550
31 Over $323,200 but not over $18,252 plus 6.85% of excess over
32 $2,155,350 $323,200
33 Over $2,155,350 but not over $143,754 plus 9.65% of excess over
34 $5,000,000 $2,155,350
35 Over $5,000,000 but not over $418,263 plus 10.30% of excess over
36 $25,000,000 $5,000,000
37 Over $25,000,000 $2,478,263 plus 10.90% of excess over
38 $25,000,000
39 (vii) For taxable years beginning after two thousand twenty-seven the
40 following rates shall apply:
41 If the New York taxable income is: The tax is:
42 Not over $17,150 4% of the New York taxable income
43 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
44 $17,150
45 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
46 $23,600
47 Over $27,900 but not over $161,550 $1,202 plus 5.5% of excess over
48 $27,900
49 Over $161,550 but not over $323,200 $8,553 plus 6.00% of excess
50 over $161,550
51 Over $323,200 but not over $18,252 plus 6.85% of excess
52 $2,155,350 over $323,200
53 Over $2,155,350 $143,754 plus 8.82% of excess
54 over $2,155,350]
A. 2747 6
1 § 2. Paragraph 1 of subsection (b) of section 601 of the tax law, as
2 amended by section 2 of part FF of chapter 59 of the laws of 2013,
3 subparagraph (B) as added by section 2 of part R of chapter 59 of the
4 laws of 2017, clause (iii) of subparagraph (B) as amended by section 2
5 of part P of chapter 59 of the laws of 2019, clauses (iv) and (v) of
6 subparagraph (B) as amended by section 2 of part A of chapter 59 of the
7 laws of 2021, and clauses (vi) and (vii) of subparagraph (B) as amended
8 by section 2 of subpart A of part A of chapter 59 of the laws of 2022,
9 is amended to read as follows:
10 (1) (A) For taxable years beginning after two thousand eleven and
11 before two thousand [eighteen] sixteen:
12 If the New York taxable income is: The tax is:
13 Not over $12,000 4% of taxable income
14 Over $12,000 but not over $16,500 $480 plus 4.5% of excess over
15 $12,000
16 Over $16,500 but not over $19,500 $683 plus 5.25% of excess over
17 $16,500
18 Over $19,500 but not over $30,000 $840 plus 5.90% of excess over
19 $19,500
20 Over $30,000 but not over $100,000 $1,460 plus 6.45% of excess over
21 $30,000
22 Over $100,000 but not over $250,000 $5,975 plus 6.65% of excess over
23 $100,000
24 Over $250,000 but not over $1,500,000 $15,950 plus 6.85% of excess over
25 $250,000
26 Over $1,500,000 $101,575 plus 8.82% of excess over
27 $1,500,000
28 (B)(i) For taxable years beginning in two thousand eighteen the
29 following rates shall apply:
30 If the New York taxable income is: The tax is:
31 Not over $12,800 4% of the New York taxable income
32 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over $12,800
33 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
34 $17,650
35 Over $20,900 but not over $32,200 $901 plus 5.9% of excess over $20,900
36 Over $32,200 but not over $107,650 $1,568 plus 6.33% of excess over
37 $32,200
38 Over $107,650 but not over $269,300 $6,344 plus 6.57% of excess over
39 $107,650
40 Over $269,300 but not over $1,616,450 $16,964 plus 6.85% of excess over
41 $269,300
42 Over $1,616,450 $109,244 plus 8.82% of excess over
43 $1,616,450
44 (ii) For taxable years beginning in two thousand nineteen the follow-
45 ing rates shall apply:
46 If the New York taxable income is: The tax is:
47 Not over $12,800 4% of the New York taxable income
48 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over $12,800
49 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
50 $17,650
51 Over $20,900 but not over $32,200 $901 plus 5.9% of excess over $20,900
52 Over $32,200 but not over $107,650 $1,568 plus 6.21% of excess over
A. 2747 7
1 $32,200
2 Over $107,650 but not over $269,300 $6,253 plus 6.49% of excess over
3 $107,650
4 Over $269,300 but not over $1,616,450 $16,744 plus 6.85% of excess over
5 $269,300
6 Over $1,616,450 $109,024 plus 8.82% of excess over
7 $1,616,450
8 (iii) For taxable years beginning in two thousand twenty the following
9 rates shall apply:
10 If the New York taxable income is: The tax is:
11 Not over $12,800 4% of the New York taxable income
12 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over $12,800
13 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
14 $17,650
15 Over $20,900 but not over $32,200 $901 plus 5.9% of excess over $20,900
16 Over $32,200 but not over $107,650 $1,568 plus 6.09% of excess over
17 $32,200
18 Over $107,650 but not over $269,300 $6,162 plus 6.41% of excess over
19 $107,650
20 Over $269,300 but not over $16,524 plus 6.85% of
21 $1,616,450 excess over $269,300
22 Over $1,616,450 $108,804 plus 8.82% of excess over
23 $1,616,450
24 [(iv) For taxable years beginning in two thousand twenty-one the
25 following rates shall apply:
26 If the New York taxable income is: The tax is:
27 Not over $12,800 4% of the New York taxable income
28 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over
29 $12,800
30 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
31 $17,650
32 Over $20,900 but not over $32,200 $901 plus 5.9% of excess over
33 $20,900
34 Over $32,200 but not over $107,650 $1,568 plus 5.97% of excess over
35 $32,200
36 Over $107,650 but not over $269,300 $6,072 plus 6.33% of excess over
37 $107,650
38 Over $269,300 but not over $16,304 plus 6.85% of excess over
39 $1,616,450 $269,300
40 Over $1,616,450 but not over $108,584 plus 9.65% of excess over
41 $5,000,000 $1,616,450
42 Over $5,000,000 but not over $435,097 plus 10.30% of excess over
43 $25,000,000 $5,000,000
44 Over $25,000,000 $2,495,097 plus 10.90% of excess over
45 $25,000,000
46 (v) For taxable years beginning in two thousand twenty-two the follow-
47 ing rates shall apply:
48 If the New York taxable income is: The tax is:
49 Not over $12,800 4% of the New York taxable income
50 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over
51 $12,800
52 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
53 $17,650
54 Over $20,900 but not over $107,650 $901 plus 5.85% of excess over
55 $20,900
56 Over $107,650 but not over $269,300 $5,976 plus 6.25% of excess over
A. 2747 8
1 $107,650
2 Over $269,300 but not over $16,079 plus 6.85% of excess
3 $1,616,450 over $269,300
4 Over $1,616,450 but not over $108,359 plus 9.65% of excess over
5 $5,000,000 $1,616,450
6 Over $5,000,000 but not over $434,871 plus 10.30% of excess over
7 $25,000,000 $5,000,000
8 Over $25,000,000 $2,494,871 plus 10.90% of excess over
9 $25,000,000
10 (vi) For taxable years beginning in two thousand twenty-three and
11 before two thousand twenty-eight the following rates shall apply:
12 If the New York taxable income is: The tax is:
13 Not over $12,800 4% of the New York taxable income
14 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over
15 $12,800
16 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
17 $17,650
18 Over $20,900 but not over $107,650 $901 plus 5.5% of excess over
19 $20,900
20 Over $107,650 but not over $269,300 $5,672 plus 6.00% of excess over
21 $107,650
22 Over $269,300 but not over $15,371 plus 6.85% of excess over
23 $1,616,450 $269,300
24 Over $1,616,450 but not over $107,651 plus 9.65% of excess over
25 $5,000,000 $1,616,450
26 Over $5,000,000 but not over $434,163 plus 10.30% of excess over
27 $25,000,000 $5,000,000
28 Over $25,000,000 $2,494,163 plus 10.90% of excess over
29 $25,000,000
30 (vii) For taxable years beginning after two thousand twenty-seven the
31 following rates shall apply:
32 If the New York taxable income is: The tax is:
33 Not over $12,800 4% of the New York taxable income
34 Over $12,800 but not over $512 plus 4.5% of excess over
35 $17,650 $12,800
36 Over $17,650 but not over $730 plus 5.25% of excess over
37 $20,900 $17,650
38 Over $20,900 but not over $901 plus 5.5% of excess over
39 $107,650 $20,900
40 Over $107,650 but not over $5,672 plus 6.00% of excess
41 $269,300 over $107,650
42 Over $269,300 but not over $15,371 plus 6.85% of excess
43 $1,616,450 over $269,300
44 Over $1,616,450 $107,651 plus 8.82% of excess
45 over $1,616,450]
46 (C) For taxable years beginning in two thousand twenty-three, the
47 following brackets and dollar amounts shall apply:
48 If the New York taxable income is:The tax is:
49 Not over $12,0002% of taxable income
50 Over $12,000 but not over $16,500$240 plus 2.5% of excess over
51 $12,000
52 Over $16,500 but not over $19,500$353 plus 3.25% of excess over
A. 2747 9
1 $16,500
2 Over $19,500 but not over $30,000$451 plus 3.90% of excess over
3 $19,500
4 Over $30,000 but not over $100,000$861 plus 4.45% of excess over
5 $30,000
6 Over $100,000 but not over $250,000$3,976 plus 4.65% of excess over
7 $100,000
8 Over $250,000 but not over$10,951 plus 6.85% of excess over
9 $1,500,000$250,000
10 Over $1,500,000$96,576 plus 8.82% of excess over
11 $1,500,000
12 § 3. Paragraph 1 of subsection (c) of section 601 of the tax law, as
13 amended by section 3 of part FF of chapter 59 of the laws of 2013,
14 subparagraph (B) as added by section 3 of part R of chapter 59 of the
15 laws of 2017, clause (iii) of subparagraph (B) as amended by section 3
16 of part P of chapter 59 of the laws of 2019, clauses (iv) and (v) of
17 subparagraph (B) as amended by section 3 of part A of chapter 59 of the
18 laws of 2021, and clauses (vi) and (vii) of subparagraph (B) as amended
19 by section 3 of subpart A of part A of chapter 59 of the laws of 2022,
20 is amended to read as follows:
21 (1) (A) For taxable years beginning after two thousand eleven and
22 before two thousand [eighteen] sixteen:
23 If the New York taxable income is: The tax is:
24 Not over $8,000 4% of taxable income
25 Over $8,000 but not over $11,000 $320 plus 4.5% of excess over
26 $8,000
27 Over $11,000 but not over $13,000 $455 plus 5.25% of excess over
28 $11,000
29 Over $13,000 but not over $20,000 $560 plus 5.90% of excess over
30 $13,000
31 Over $20,000 but not over $75,000 $973 plus 6.45% of excess over
32 $20,000
33 Over $75,000 but not over $200,000 $4,521 plus 6.65% of excess over
34 $75,000
35 Over $200,000 but not over $1,000,000 $12,833 plus 6.85% of excess over
36 $200,000
37 Over $1,000,000 $67,633 plus 8.82% of excess over
38 $1,000,000
39 (B)(i) For taxable years beginning in two thousand eighteen the
40 following rates shall apply:
41 If the New York taxable income is: The tax is:
42 Not over $8,500 4% of the New York taxable income
43 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
44 $8,500
45 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
46 $11,700
47 Over $13,900 but not over $21,400 $600 plus 5.9% of excess over
48 $13,900
49 Over $21,400 but not over $80,650 $1,042 plus 6.33% of excess over
50 $21,400
51 Over $80,650 but not over $215,400 $4,793 plus 6.57% of excess over
52 $80,650
53 Over $215,400 but not over $1,077,550 $13,646 plus 6.85% of excess over
A. 2747 10
1 $215,400
2 Over $1,077,550 $72,703 plus 8.82% of excess over
3 $1,077,550
4 (ii) For taxable years beginning in two thousand nineteen the follow-
5 ing rates shall apply:
6 If the New York taxable income is: The tax is:
7 Not over $8,500 4% of the New York taxable income
8 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
9 $8,500
10 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
11 $11,700
12 Over $13,900 but not over $21,400 $600 plus 5.9% of excess over
13 $13,900
14 Over $21,400 but not over $80,650 $1,042 plus 6.21% of excess over
15 $21,400
16 Over $80,650 but not over $215,400 $4,721 plus 6.49% of excess over
17 $80,650
18 Over $215,400 but not over $1,077,550 $13,467 plus 6.85% of excess over
19 $215,400
20 Over $1,077,550 $72,524 plus 8.82% of excess over
21 $1,077,550
22 (iii) For taxable years beginning in two thousand twenty the following
23 rates shall apply:
24 If the New York taxable income is: The tax is:
25 Not over $8,500 4% of the New York taxable income
26 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
27 $8,500
28 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
29 $11,700
30 Over $13,900 but not over $21,400 $600 plus 5.9% of excess over
31 $13,900
32 Over $21,400 but not over $80,650 $1,042 plus 6.09% of excess over
33 $21,400
34 Over $80,650 but not over $215,400 $4,650 plus 6.41% of excess over
35 $80,650
36 Over $215,400 but not over $13,288 plus 6.85% of excess
37 $1,077,550 over $215,400
38 Over $1,077,550 $72,345 plus 8.82% of excess over
39 $1,077,550
40 [(iv) For taxable years beginning in two thousand twenty-one the
41 following rates shall apply:
42 If the New York taxable income is: The tax is:
43 Not over $8,500 4% of the New York taxable income
44 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
45 $8,500
46 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
47 $11,700
48 Over $13,900 but not over $21,400 $600 plus 5.9% of excess over
49 $13,900
50 Over $21,400 but not over $80,650 $1,042 plus 5.97% of excess over
51 $21,400
52 Over $80,650 but not over $215,400 $4,579 plus 6.33% of excess over
53 $80,650
54 Over $215,400 but not over $13,109 plus 6.85% of excess
55 $1,077,550 over $215,400
56 Over $1,077,550 but not over $72,166 plus 9.65% of excess over
A. 2747 11
1 $5,000,000 $1,077,550
2 Over $5,000,000 but not over $450,683 plus 10.30% of excess over
3 $25,000,000 $5,000,000
4 Over $25,000,000 $2,510,683 plus 10.90% of excess over
5 $25,000,000
6 (v) For taxable years beginning in two thousand twenty-two the follow-
7 ing rates shall apply:
8 If the New York taxable income is: The tax is:
9 Not over $8,500 4% of the New York taxable income
10 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
11 $8,500
12 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
13 $11,700
14 Over $13,900 but not over $80,650 $600 plus 5.85% of excess over
15 $13,900
16 Over $80,650 but not over $215,400 $4,504 plus 6.25% of excess over
17 $80,650
18 Over $215,400 but not over $12,926 plus 6.85% of excess
19 $1,077,550 over $215,400
20 Over $1,077,550 but not over $71,984 plus 9.65% of excess over
21 $5,000,000 $1,077,550
22 Over $5,000,000 but not over $450,500 plus 10.30% of excess over
23 $25,000,000 $5,000,000
24 Over $25,000,000 $2,510,500 plus 10.90% of excess over
25 $25,000,000
26 (vi) For taxable years beginning in two thousand twenty-three and
27 before two thousand twenty-eight the following rates shall apply:
28 If the New York taxable income is: The tax is:
29 Not over $8,500 4% of the New York taxable income
30 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
31 $8,500
32 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
33 $11,700
34 Over $13,900 but not over $80,650 $600 plus 5.50% of excess over
35 $13,900
36 Over $80,650 but not over $215,400 $4,271 plus 6.00% of excess over
37 $80,650
38 Over $215,400 but not over $12,356 plus 6.85% of excess over
39 $1,077,550 $215,400
40 Over $1,077,550 but not over $71,413 plus 9.65% of excess over
41 $5,000,000 $1,077,550
42 Over $5,000,000 but not over $449,929 plus 10.30% of excess over
43 $25,000,000 $5,000,000
44 Over $25,000,000 $2,509,929 plus 10.90% of excess over
45 $25,000,000
46 (vii) For taxable years beginning after two thousand twenty-seven the
47 following rates shall apply:
48 If the New York taxable income is: The tax is:
49 Not over $8,500 4% of the New York taxable income
50 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
51 $8,500
52 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
53 $11,700
54 Over $13,900 but not over $80,650 $600 plus 5.50% of excess over
55 $13,900
56 Over $80,650 but not over $215,400 $4,271 plus 6.00% of excess
A. 2747 12
1 over $80,650
2 Over $215,400 but not over $12,356 plus 6.85% of excess
3 $1,077,550 over $215,400
4 Over $1,077,550 $71,413 plus 8.82% of excess
5 over $1,077,550]
6 (C) For taxable years beginning in two thousand twenty-three, the
7 following brackets and dollar amounts shall apply:
8 If the New York taxable income is:The tax is:
9 Not over $8,0002% of taxable income
10 Over $8,000 but not over $11,000$160 plus 2.5% of excess over
11 $8,000
12 Over $11,000 but not over $13,000$235 plus 3.25% of excess over
13 $11,000
14 Over $13,000 but not over $20,000$300 plus 3.90% of excess over
15 $13,000
16 Over $20,000 but not over $75,000$573 plus 4.45% of excess over
17 $20,000
18 Over $75,000 but not over $200,000$3,021 plus 4.65% of excess over
19 $75,000
20 Over $200,000 to $1,000,000$8,834 plus 6.85% of excess over
21 $200,000
22 § 4. This act shall take effect immediately.
23 § 2. Severability clause. If any clause, sentence, paragraph, subdivi-
24 sion, section or part of this act shall be adjudged by a court of compo-
25 nent jurisdiction to be invalid, such judgment shall not affect, impair
26 or invalidate the remainder thereof, but shall be confined in its opera-
27 tion to the clause, sentence, paragraph, subdivision, section or part
28 thereof directly involved in the controversy in which such judgment
29 shall have been rendered. It is hereby declared to be the intent of the
30 legislature that this act would have been enacted even if such invalid
31 provisions had not been included herein.
32 § 3. This act shall take effect immediately provided, however, that
33 the applicable effective date of Parts A through B of this act shall be
34 as specifically set forth in the last section of such Parts.
