STATE OF NEW YORK
________________________________________________________________________
4604
2021-2022 Regular Sessions
IN ASSEMBLY
February 4, 2021
___________
Introduced by M. of A. MEEKS, BRONSON, L. ROSENTHAL -- read once and
referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to imposing a progressive
income tax structure
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Clauses (iv), (v), (vi), (vii) and (viii) of subparagraph
2 (B) of paragraph 1 of subsection (a) of section 601 of the tax law,
3 clauses (iv), (v), (vi) and (vii) as amended by section 1 of part P of
4 chapter 59 of the laws of 2019, and clause (viii) as added by section 1
5 of part R of chapter 59 of the laws of 2017, are amended to read as
6 follows:
7 (iv) For taxable years beginning in two thousand twenty-one the
8 following rates shall apply:
9 If the New York taxable income is: The tax is:
10 Not over $17,150 4% of the New York taxable income
11 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
12 $17,150
13 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
14 $23,600
15 Over $27,900 but not over $43,000 $1,202 plus 5.9% of excess over
16 $27,900
17 Over $43,000 but not over $161,550 $2,093 plus 5.97% of excess over
18 $43,000
19 Over $161,550 but not over $323,200 $9,170 plus 6.33% of excess over
20 $161,550
21 Over $323,200 but not over $19,403 plus 6.85% of excess
22 [$2,155,350] $450,000 over $323,200
23 Over [$2,155,350 $144,905 plus 8.82% of excess over
24 $2,155,350]
25 $450,000 but not over $600,000$28,089 plus 7.5% of excess over
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04685-02-1
A. 4604 2
1 $450,000
2 Over $600,000 but not over $700,000$39,339 plus 8% of excess over
3 $600,000
4 Over $700,000 but not over $800,000$47,339 plus 8.5% of excess over
5 $700,000
6 Over $800,000 but not over $900,000$55,839 plus 9% of excess over
7 $800,000
8 Over $900,000 but not over $1,000,000$64,839 plus 9.5% of excess over
9 $900,000
10 Over $1,000,000 but not over$74,339 plus 10% of excess over
11 $1,100,000$1,000,000
12 Over $1,100,000 but not over$84,339 plus 11% of excess over
13 $1,200,000$1,100,000
14 Over $1,200,000 but not over$95,339 plus 12% of excess over
15 $5,500,000$1,200,000
16 Over $5,500,000 but not over$611,339 plus 13% of excess over
17 $11,000,000$5,500,000
18 Over $11,000,000 but not over$1,326,339 plus 14% of excess over
19 $110,000,000$11,000,000
20 Over $110,000,000$15,186,339 plus 15% of excess over
21 $110,000,000
22 (v) For taxable years beginning in two thousand twenty-two the follow-
23 ing rates shall apply:
24 If the New York taxable income is: The tax is:
25 Not over $17,150 4% of the New York taxable income
26 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
27 $17,150
28 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
29 $23,600
30 Over $27,900 but not over $161,550 $1,202 plus 5.85% of excess over
31 $27,900
32 Over $161,550 but not over $323,200 $9,021 plus 6.25% of excess over
33 $161,550
34 Over $323,200 but not over $19,124 plus
35 [$2,155,350] $450,000 6.85% of excess over $323,200
36 Over [$2,155,350 $144,626 plus 8.82% of excess over
37 $2,155,350]
38 $450,000 but not over $600,000$27,810 plus 7.5% of excess over
39 $450,000
40 Over $600,000 but not over $700,000$39,060 plus 8% of excess over
41 $600,000
42 Over $700,000 but not over $800,000$47,060 plus 8.5% of excess over
43 $700,000
44 Over $800,000 but not over $900,000$55,560 plus 9% of excess over
45 $800,000
46 Over $900,000 but not over $1,000,000$64,560 plus 9.5% of excess over
47 $900,000
48 Over $1,000,000 but not over$74,060 plus 10% of excess over
49 $1,100,000$1,000,000
50 Over $1,100,000 but not over$84,060 plus 11% of excess over
51 $1,200,000$1,100,000
52 Over $1,200,000 but not over$95,060 plus 12% of excess over
53 $5,500,000$1,200,000
54 Over $5,500,000 but not over$611,060 plus 13% of excess over
55 $11,000,000$5,500,000
56 Over $11,000,000 but not over$1,326,060 plus 14% of excess over
A. 4604 3
1 $110,000,000$11,000,000
2 Over $110,000,000$15,186,060 plus 15% of excess over
3 $110,000,000
4 (vi) For taxable years beginning in two thousand twenty-three the
5 following rates shall apply:
6 If the New York taxable income is: The tax is:
7 Not over $17,150 4% of the New York taxable income
8 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
9 $17,150
10 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
11 $23,600
12 Over $27,900 but not over $161,550 $1,202 plus 5.73% of excess over
13 $27,900
14 Over $161,550 but not over $323,200 $8,860 plus 6.17% of excess over
15 $161,550
16 Over $323,200 but not over $18,834 plus 6.85% of
17 [$2,155,350] $450,000 excess over $323,200
18 Over [$2,155,350 $144,336 plus 8.82% of excess over
19 $2,155,350]
20 $450,000 but not over $600,000$27,520 plus 7.5% of excess over
21 $450,000
22 Over $600,000 but not over $700,000$38,770 plus 8% of excess over
23 $600,000
24 Over $700,000 but not over $800,000$46,770 plus 8.5% of excess over
25 $700,000
26 Over $800,000 but not over $900,000$55,270 plus 9% of excess over
27 $800,000
28 Over $900,000 but not over $1,000,000$64,270 plus 9.5% of excess over
29 $900,000
30 Over $1,000,000 but not over$73,770 plus 10% of excess over
31 $1,100,000$1,000,000
32 Over $1,100,000 but not over$83,770 plus 11% of excess over
33 $1,200,000$1,100,000
34 Over $1,200,000 but not over$94,770 plus 12% of excess over
35 $5,500,000$1,200,000
36 Over $5,500,000 but not over$610,770 plus 13% of excess over
37 $11,000,000$5,500,000
38 Over $11,000,000 but not over$1,325,770 plus 14% of excess over
39 $110,000,000$11,000,000
40 Over $110,000,000$15,185,770 plus 15% of excess over
41 $110,000,000
42 (vii) For taxable years beginning in two thousand twenty-four the
43 following rates shall apply:
44 If the New York taxable income is: The tax is:
45 Not over $17,150 4% of the New York taxable income
46 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
47 $17,150
48 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
49 $23,600
50 Over $27,900 but not over $161,550 $1,202 plus 5.61% of excess over
51 $27,900
52 Over $161,550 but not over $323,200 $8,700 plus 6.09% of excess over
53 $161,550
54 Over $323,200 but not over $18,544 plus 6.85% of
55 [$2,155,350] $450,000 excess over $323,200
56 Over [$2,155,350 $144,047 plus 8.82% of excess over
A. 4604 4
1 $2,155,350]
2 $450,000 but not over $600,000$27,230 plus 7.5% of excess over
3 $450,000
4 Over $600,000 but not over $700,000$38,480 plus 8% of excess over
5 $600,000
6 Over $700,000 but not over $800,000$46,480 plus 8.5% of excess over
7 $700,000
8 Over $800,000 but not over $900,000$54,980 plus 9% of excess over
9 $800,000
10 Over $900,000 but not over $1,000,000$63,980 plus 9.5% of excess over
11 $900,000
12 Over $1,000,000 but not over$73,480 plus 10% of excess over
13 $1,100,000$1,000,000
14 Over $1,100,000 but not over$83,480 plus 11% of excess over
15 $1,200,000$1,100,000
16 Over $1,200,000 but not over$94,480 plus 12% of excess over
17 $5,500,000$1,200,000
18 Over $5,500,000 but not over$610,480 plus 13% of excess over
19 $11,000,000$5,500,000
20 Over $11,000,000 but not over$1,325,480 plus 14% of excess over
21 $110,000,000$11,000,000
22 Over $110,000,000$15,185,480 plus 15% of excess over
23 $110,000,000
24 (viii) For taxable years beginning after two thousand twenty-four the
25 following rates shall apply:
26 If the New York taxable income is: The tax is:
27 Not over $17,150 4% of the New York taxable income
28 Over $17,150 but not over $23,600 $686 plus 4.5% of excess over
29 $17,150
30 Over $23,600 but not over $27,900 $976 plus 5.25% of excess over
31 $23,600
32 Over $27,900 but not over $161,550 $1,202 plus 5.5% of excess over
33 $27,900
34 Over $161,550 but not over $323,200 $8,553 plus 6.00% of excess over
35 $161,550
36 Over $323,200 but not over $18,252 plus 6.85% of excess over
37 $450,000 $323,200
38 Over $450,000 but not over $600,000$26,938 plus 7.5% of excess over
39 $450,000
40 Over $600,000 but not over $700,000$38,188 plus 8% of excess over
41 $600,000
42 Over $700,000 but not over $800,000$46,188 plus 8.5% of excess over
43 $700,000
44 Over $800,000 but not over $900,000$54,688 plus 9% of excess over
45 $800,000
46 Over $900,000 but not over $1,000,000$63,688 plus 9.5% of excess over
47 $900,000
48 Over $1,000,000 but not over$73,188 plus 10% of excess over
49 $1,100,000$1,000,000
50 Over $1,100,000 but not over$83,188 plus 11% of excess over
51 $1,200,000$1,100,000
52 Over $1,200,000 but not over$94,188 plus 12% of excess over
53 $5,500,000$1,200,000
54 Over $5,500,000 but not over$610,188 plus 13% of excess over
55 $11,000,000$5,500,000
56 Over $11,000,000 but not over$1,325,188 plus 14% of excess over
A. 4604 5
1 $110,000,000$11,000,000
2 Over $110,000,000$15,185,188 plus 15% of excess over
3 $110,000,000
4 § 2. Clauses (iv), (v), (vi), (vii) and (viii) of subparagraph (B) of
5 paragraph 1 of subsection (b) of section 601 of the tax law, clauses
6 (iv), (v), (vi) and (vii) as amended by section 2 of part P of chapter
7 59 of the laws of 2019, and clause (viii) as added by section 2 of part
8 R of chapter 59 of the laws of 2017, are amended to read as follows:
9 (iv) For taxable years beginning in two thousand twenty-one the
10 following rates shall apply:
11 If the New York taxable income is: The tax is:
12 Not over $12,800 4% of the New York taxable income
13 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over
14 $12,800
15 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
16 $17,650
17 Over $20,900 but not over $32,200 $901 plus 5.9% of excess over
18 $20,900
19 Over $32,200 but not over $107,650 $1,568 plus 5.97% of excess over
20 $32,200
21 Over $107,650 but not over $269,300 $6,072 plus 6.33% of excess over
22 $107,650
23 Over $269,300 but not over $16,304 plus 6.85% of
24 [$1,616,450] $450,000 excess over $269,300
25 Over [$1,616,450 $108,584 plus 8.82% of excess over
26 $1,616,450]
27 $450,000 but not over $600,000$28,682 plus 7.5% of excess over
28 $450,000
29 Over $600,000 but not over $700,000$39,932 plus 8% of excess over
30 $600,000
31 Over $700,000 but not over $800,000$47,932 plus 8.5% of excess over
32 $700,000
33 Over $800,000 but not over $900,000$56,432 plus 9% of excess over
34 $800,000
35 Over $900,000 but not over $1,000,000$65,432 plus 9.5% of excess over
36 $900,000
37 Over $1,000,000 but not over$74,932 plus 10% of excess over
38 $1,100,000$1,000,000
39 Over $1,100,000 but not over$84,932 plus 11% of excess over
40 $1,200,000$1,100,000
41 Over $1,200,000 but not over$95,932 plus 12% of excess over
42 $5,500,000$1,200,000
43 Over $5,500,000 but not over$611,932 plus 13% of excess over
44 $11,000,000$5,500,000
45 Over $11,000,000 but not over$1,326,932 plus 14% of excess over
46 $110,000,000$11,000,000
47 Over $110,000,000$15,186,932 plus 15% of excess over
48 $110,000,000
49 (v) For taxable years beginning in two thousand twenty-two the follow-
50 ing rates shall apply:
51 If the New York taxable income is: The tax is:
52 Not over $12,800 4% of the New York taxable income
53 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over
54 $12,800
55 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
A. 4604 6
1 $17,650
2 Over $20,900 but not over $107,650 $901 plus 5.85% of excess over
3 $20,900
4 Over $107,650 but not over $269,300 $5,976 plus 6.25% of excess over
5 $107,650
6 Over $269,300 but not over $16,079 plus 6.85% of excess
7 [$1,616,450] $450,000 over $269,300
8 Over [$1,616,450 $108,359 plus 8.82% of excess over
9 $1,616,450]
10 $450,000 but not over $600,000$28,457 plus 7.5% of excess over
11 $450,000
12 Over $600,000 but not over $700,000$39,707 plus 8% of excess over
13 $600,000
14 Over $700,000 but not over $800,000$47,707 plus 8.5% of excess over
15 $700,000
16 Over $800,000 but not over $900,000$56,207 plus 9% of excess over
17 $800,000
18 Over $900,000 but not over $1,000,000$65,207 plus 9.5% of excess over
19 $900,000
20 Over $1,000,000 but not over$74,707 plus 10% of excess over
21 $1,100,000$1,000,000
22 Over $1,100,000 but not over$84,707 plus 11% of excess over
23 $1,200,000$1,100,000
24 Over $1,200,000 but not over$95,707 plus 12% of excess over
25 $5,500,000$1,200,000
26 Over $5,500,000 but not over$611,707 plus 13% of excess over
27 $11,000,000$5,500,000
28 Over $11,000,000 but not over$1,326,707 plus 14% of excess over
29 $110,000,000$11,000,000
30 Over $110,000,000$15,186,707 plus 15% of excess over
31 $110,000,000
32 (vi) For taxable years beginning in two thousand twenty-three the
33 following rates shall apply:
34 If the New York taxable income is: The tax is:
35 Not over $12,800 4% of the New York taxable income
36 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over
37 $12,800
38 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
39 $17,650
40 Over $20,900 but not over $107,650 $901 plus 5.73% of excess over
41 $20,900
42 Over $107,650 but not over $269,300 $5,872 plus 6.17% of excess over
43 $107,650
44 Over $269,300 but not over $15,845 plus 6.85% of excess
45 [$1,616,450] $450,000 over $269,300
46 Over [$1,616,450 $108,125 plus 8.82% of excess over
47 $1,616,450]
48 $450,000 but not over $600,000$28,223 plus 7.5% of excess over
49 $450,000
50 Over $600,000 but not over $700,000$39,473 plus 8% of excess over
51 $600,000
52 Over $700,000 but not over $800,000$47,473 plus 8.5% of excess over
53 $700,000
54 Over $800,000 but not over $900,000$55,973 plus 9% of excess over
55 $800,000
56 Over $900,000 but not over $1,000,000$64,973 plus 9.5% of excess over
A. 4604 7
1 $900,000
2 Over $1,000,000 but not over$74,473 plus 10% of excess over
3 $1,100,000$1,000,000
4 Over $1,100,000 but not over$84,473 plus 11% of excess over
5 $1,200,000$1,100,000
6 Over $1,200,000 but not over$95,473 plus 12% of excess over
7 $5,500,000$1,200,000
8 Over $5,500,000 but not over$611,473 plus 13% of excess over
9 $11,000,000$5,500,000
10 Over $11,000,000 but not over$1,326,473 plus 14% of excess over
11 $110,000,000$11,000,000
12 Over $110,000,000$15,186,473 plus 15% of excess over
13 $110,000,000
14 (vii) For taxable years beginning in two thousand twenty-four the
15 following rates shall apply:
16 If the New York taxable income is: The tax is:
17 Not over $12,800 4% of the New York taxable income
18 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over
19 $12,800
20 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
21 $17,650
22 Over $20,900 but not over $107,650 $901 plus 5.61% of excess over
23 $20,900
24 Over $107,650 but not over $269,300 $5,768 plus 6.09% of excess over
25 $107,650
26 Over $269,300 but not over $15,612 plus 6.85% of excess
27 [$1,616,450] $450,000 over $269,300
28 Over [$1,616,450 $107,892 plus 8.82% of excess over
29 $1,616,450]
30 $450,000 but not over $600,000$27,990 plus 7.5% of excess over
31 $450,000
32 Over $600,000 but not over $700,000$39,240 plus 8% of excess over
33 $600,000
34 Over $700,000 but not over $800,000$47,240 plus 8.5% of excess over
35 $700,000
36 Over $800,000 but not over $900,000$55,740 plus 9% of excess over
37 $800,000
38 Over $900,000 but not over $1,000,000$64,740 plus 9.5% of excess over
39 $900,000
40 Over $1,000,000 but not over$74,240 plus 10% of excess over
41 $1,100,000$1,000,000
42 Over $1,100,000 but not over$84,240 plus 11% of excess over
43 $1,200,000$1,100,000
44 Over $1,200,000 but not over$95,240 plus 12% of excess over
45 $5,500,000$1,200,000
46 Over $5,500,000 but not over$611,240 plus 13% of excess over
47 $11,000,000$5,500,000
48 Over $11,000,000 but not over$1,326,240 plus 14% of excess over
49 $110,000,000$11,000,000
50 Over $110,000,000$15,186,240 plus 15% of excess over
51 $110,000,000
52 (viii) For taxable years beginning after two thousand twenty-four the
53 following rates shall apply:
54 If the New York taxable income is: The tax is:
55 Not over $12,800 4% of the New York taxable income
56 Over $12,800 but not over $17,650 $512 plus 4.5% of excess over
A. 4604 8
1 $12,800
2 Over $17,650 but not over $20,900 $730 plus 5.25% of excess over
3 $17,650
4 Over $20,900 but not over $107,650 $901 plus 5.5% of excess over
5 $20,900
6 Over $107,650 but not over $269,300 $5,672 plus 6.00% of excess over
7 $107,650
8 Over $269,300 but not over $15,371 plus 6.85% of excess over
9 $450,000 $269,300
10 Over $450,000 but not over $600,000$27,749 plus 7.5% of excess over
11 $450,000
12 Over $600,000 but not over $700,000$38,999 plus 8% of excess over
13 $600,000
14 Over $700,000 but not over $800,000$46,999 plus 8.5% of excess over
15 $700,000
16 Over $800,000 but not over $900,000$55,499 plus 9% of excess over
17 $800,000
18 Over $900,000 but not over $1,000,000$64,499 plus 9.5% of excess over
19 $900,000
20 Over $1,000,000 but not over$73,999 plus 10% of excess over
21 $1,100,000$1,000,000
22 Over $1,100,000 but not over$83,999 plus 11% of excess over
23 $1,200,000$1,100,000
24 Over $1,200,000 but not over$94,999 plus 12% of excess over
25 $5,500,000$1,200,000
26 Over $5,500,000 but not over$610,999 plus 13% of excess over
27 $11,000,000$5,500,000
28 Over $11,000,000 but not over$1,325,999 plus 14% of excess over
29 $110,000,000$11,000,000
30 Over $110,000,000$15,185,999 plus 15% of excess over
31 $110,000,000
32 § 3. Clauses (iv), (v), (vi), (vii) and (viii) of subparagraph (B) of
33 paragraph 1 of subsection (c) of section 601 of the tax law, clauses
34 (iv), (v), (vi) and (vii) as amended by section 3 of part P of chapter
35 59 of the laws of 2019, and clause (viii) as added by section 3 of part
36 R of chapter 59 of the laws of 2017, are amended to read as follows:
37 (iv) For taxable years beginning in two thousand twenty-one the
38 following rates shall apply:
39 If the New York taxable income is: The tax is:
40 Not over $8,500 4% of the New York taxable income
41 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
42 $8,500
43 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
44 $11,700
45 Over $13,900 but not over $21,400 $600 plus 5.9% of excess over
46 $13,900
47 Over $21,400 but not over $80,650 $1,042 plus 5.97% of excess over
48 $21,400
49 Over $80,650 but not over $215,400 $4,579 plus 6.33% of excess over
50 $80,650
51 Over $215,400 but not over $13,109 plus 6.85% of excess
52 [$1,077,550] $300,000 over $215,400
53 Over [$1,077,550 $72,166 plus 8.82% of excess over
54 $1,077,550]
55 $300,000 but not over $400,000$18,904 plus 7.5% of excess over
A. 4604 9
1 $300,000
2 Over $400,000 but not over $500,000$26,404 plus 8% of excess over
3 $400,000
4 Over $500,000 but not over $600,000$34,404 plus 8.5% of excess over
5 $500,000
6 Over $600,000 but not over $700,000$42,904 plus 9% of excess over
7 $600,000
8 Over $700,000 but not over $800,000$51,904 plus 9.5% of excess over
9 $700,000
10 Over $800,000 but not over $900,000$61,404 plus 10% of excess over
11 $800,000
12 Over $900,000 but not over$71,404 plus 11% of excess over
13 $1,000,000$900,000
14 Over $1,000,000 but not over$82,404 plus 12% of excess over
15 $5,000,000$1,000,000
16 Over $5,000,000 but not over$562,404 plus 13% of excess over
17 $10,000,000$5,000,000
18 Over $10,000,000 but not over$1,212,404 plus 14% of excess over
19 $100,000,000$10,000,000
20 Over $100,000,000$13,812,404 plus 15% of excess over
21 $100,000,000
22 (v) For taxable years beginning in two thousand twenty-two the follow-
23 ing 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 $80,650 $600 plus 5.85% of excess over
31 $13,900
32 Over $80,650 but not over $215,400 $4,504 plus 6.25% of excess over
33 $80,650
34 Over $215,400 but not over $12,926 plus 6.85% of excess
35 [$1,077,550] $300,000 over $215,400
36 Over [$1,077,550 $71,984 plus 8.82% of excess over
37 $1,077,550]
38 $300,000 but not over $400,000$18,721 plus 7.5% of excess over
39 $300,000
40 Over $400,000 but not over $500,000$26,221 plus 8% of excess over
41 $400,000
42 Over $500,000 but not over $600,000$34,221 plus 8.5% of excess over
43 $500,000
44 Over $600,000 but not over $700,000$42,721 plus 9% of excess over
45 $600,000
46 Over $700,000 but not over $800,000$51,721 plus 9.5% of excess over
47 $700,000
48 Over $800,000 but not over $900,000$61,221 plus 10% of excess over
49 $800,000
50 Over $900,000 but not over$71,221 plus 11% of excess over
51 $1,000,000$900,000
52 Over $1,000,000 but not over$82,221 plus 12% of excess over
53 $5,000,000$1,000,000
54 Over $5,000,000 but not over$562,221 plus 13% of excess over
55 $10,000,000$5,000,000
56 Over $10,000,000 but not over$1,212,221 plus 14% of excess over
A. 4604 10
1 $100,000,000$10,000,000
2 Over $100,000,000$13,812,221 plus 15% of excess over
3 $100,000,000
4 (vi) For taxable years beginning in two thousand twenty-three the
5 following 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 $80,650 $600 plus 5.73% of excess over
13 $13,900
14 Over $80,650 but not over $215,400 $4,424 plus 6.17% of excess over
15 $80,650
16 Over $215,400 but not over $12,738 plus 6.85% of excess
17 [$1,077,550] $300,000 over $215,400
18 Over [$1,077,550 $71,796 plus 8.82% of excess over
19 $1,077,550]
20 $300,000 but not over $400,000$18,533 plus 7.5% of excess over
21 $300,000
22 Over $400,000 but not over $500,000$26,033 plus 8% of excess over
23 $400,000
24 Over $500,000 but not over $600,000$34,033 plus 8.5% of excess over
25 $500,000
26 Over $600,000 but not over $700,000$42,533 plus 9% of excess over
27 $600,000
28 Over $700,000 but not over $800,000$51,533 plus 9.5% of excess over
29 $700,000
30 Over $800,000 but not over $900,000$61,033 plus 10% of excess over
31 $800,000
32 Over $900,000 but not over$71,033 plus 11% of excess over
33 $1,000,000$900,000
34 Over $1,000,000 but not over$82,033 plus 12% of excess over
35 $5,000,000$1,000,000
36 Over $5,000,000 but not over$562,033 plus 13% of excess over
37 $10,000,000$5,000,000
38 Over $10,000,000 but not over$1,212,033 plus 14% of excess over
39 $100,000,000$10,000,000
40 Over $100,000,000$13,812,033 plus 15% of excess over
41 $100,000,000
42 (vii) For taxable years beginning in two thousand twenty-four the
43 following rates shall apply:
44 If the New York taxable income is: The tax is:
45 Not over $8,500 4% of the New York taxable income
46 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
47 $8,500
48 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
49 $11,700
50 Over $13,900 but not over $80,650 $600 plus 5.61% of excess over
51 $13,900
52 Over $80,650 but not over $215,400 $4,344 plus 6.09% of excess over
53 $80,650
54 Over $215,400 but not over $12,550 plus 6.85% of excess
55 [$1,077,550] $300,000 over $215,400
56 Over [$1,077,550 $71,608 plus 8.82% of excess over
A. 4604 11
1 $1,077,550]
2 $300,000 but not over $400,000$18,345 plus 7.5% of excess over
3 $300,000
4 Over $400,000 but not over $500,000$25,845 plus 8% of excess over
5 $400,000
6 Over $500,000 but not over $600,000$33,845 plus 8.5% of excess over
7 $500,000
8 Over $600,000 but not over $700,000$42,345 plus 9% of excess over
9 $600,000
10 Over $700,000 but not over $800,000$51,345 plus 9.5% of excess over
11 $700,000
12 Over $800,000 but not over $900,000$60,845 plus 10% of excess over
13 $800,000
14 Over $900,000 but not over$70,845 plus 11% of excess over
15 $1,000,000$900,000
16 Over $1,000,000 but not over$81,845 plus 12% of excess over
17 $5,000,000$1,000,000
18 Over $5,000,000 but not over$561,845 plus 13% of excess over
19 $10,000,000$5,000,000
20 Over $10,000,000 but not over$1,211,845 plus 14% of excess over
21 $100,000,000$10,000,000
22 Over $100,000,000$13,811,845 plus 15% of excess over
23 $100,000,000
24 (viii) For taxable years beginning after two thousand twenty-four the
25 following rates shall apply:
26 If the New York taxable income is: The tax is:
27 Not over $8,500 4% of the New York taxable income
28 Over $8,500 but not over $11,700 $340 plus 4.5% of excess over
29 $8,500
30 Over $11,700 but not over $13,900 $484 plus 5.25% of excess over
31 $11,700
32 Over $13,900 but not over $80,650 $600 plus 5.50% of excess over
33 $13,900
34 Over $80,650 but not over $215,400 $4,271 plus 6.00% of excess over
35 $80,650
36 Over $215,400 but not over $12,356 plus 6.85% of excess over
37 $300,000 $215,400
38 Over $300,000 but not over $400,000$18,151 plus 7.5% of excess over
39 $300,000
40 Over $400,000 but not over $500,000$25,651 plus 8% of excess over
41 $400,000
42 Over $500,000 but not over $600,000$33,651 plus 8.5% of excess over
43 $500,000
44 Over $600,000 but not over $700,000$42,151 plus 9% of excess over
45 $600,000
46 Over $700,000 but not over $800,000$51,151 plus 9.5% of excess over
47 $700,000
48 Over $800,000 but not over $900,000$60,651 plus 10% of excess over
49 $800,000
50 Over $900,000 but not over$70,651 plus 11% of excess over
51 $1,000,000$900,000
52 Over $1,000,000 but not over$81,651 plus 12% of excess over
53 $5,000,000$1,000,000
54 Over $5,000,000 but not over$561,651 plus 13% of excess over
55 $10,000,000$5,000,000
56 Over $10,000,000 but not over$1,211,651 plus 14% of excess over
A. 4604 12
1 $100,000,000$10,000,000
2 Over $100,000,000$13,811,651 plus 15% of excess over
3 $100,000,000
4 § 4. Subparagraphs (A), (B), (C), (D) and (E) of paragraph 1 of
5 subsection (d-1) of section 601 of the tax law, as added by section 7 of
6 part A of chapter 56 of the laws of 2011, subparagraph (D) as amended by
7 section 4 of part P of chapter 59 of the laws of 2019, are amended to
8 read as follows:
9 (A) The tax table benefit is the difference between (i) the amount of
10 taxable income set forth in the tax table in paragraph one of subsection
11 (a) of this section not subject to the [6.45] 6.33 percent rate of tax
12 for the taxable year multiplied by such rate and (ii) the dollar denomi-
13 nated tax for such amount of taxable income set forth in the tax table
14 applicable to the taxable year in paragraph one of subsection (a) of
15 this section. The fraction for this subparagraph is computed as
16 follows: the numerator is the lesser of fifty thousand dollars or the
17 excess of New York adjusted gross income for the taxable year over one
18 hundred sixty-one thousand, five hundred fifty thousand dollars and the
19 denominator is fifty thousand dollars.
20 (B) The tax table benefit is the difference between (i) the amount of
21 taxable income set forth in the tax table in paragraph one of subsection
22 (a) of this section not subject to the [6.65] 6.85 percent rate of tax
23 for the taxable year multiplied by such rate and (ii) the dollar denomi-
24 nated tax for such amount of taxable income set forth in the tax table
25 applicable to the taxable year in paragraph one of subsection (a) of
26 this section less the tax table benefit in subparagraph (A) of this
27 paragraph. The fraction for this subparagraph is computed as follows:
28 the numerator is the lesser of fifty thousand dollars or the excess of
29 New York adjusted gross income for the taxable year over [one] three
30 hundred [fifty] twenty-three thousand, two hundred dollars and the
31 denominator is fifty thousand dollars. Provided, however, this subpara-
32 graph shall not apply to taxpayers who are not subject to the [6.65]
33 6.85 percent tax rate.
34 (C) The tax table benefit is the difference between (i) the amount of
35 taxable income set forth in the tax table in paragraph one of subsection
36 (a) of this section not subject to the [6.85] 7.5 percent rate of tax
37 for the taxable year multiplied by such rate and (ii) the dollar denomi-
38 nated tax for such amount of taxable income set forth in the tax table
39 applicable to the taxable year in paragraph one of subsection (a) of
40 this section less the sum of the tax table benefit in subparagraphs (A)
41 and (B) of this paragraph. The fraction for this subparagraph is
42 computed as follows: the numerator is the lesser of fifty thousand
43 dollars or the excess of New York adjusted gross income for the taxable
44 year over [three] four hundred fifty thousand dollars and the denomina-
45 tor is fifty thousand dollars. Provided, however, this subparagraph
46 shall not apply to taxpayers who are not subject to the [6.85] 7.5
47 percent tax rate.
48 (D) The tax table benefit is the difference between (i) the amount of
49 taxable income set forth in the tax table in paragraph one of subsection
50 (a) of this section not subject to the [8.82] 8 percent rate of tax for
51 the taxable year multiplied by such rate and (ii) the dollar denominated
52 tax for such amount of taxable income set forth in the tax table appli-
53 cable to the taxable year in paragraph one of subsection (a) of this
54 section less the sum of the tax table benefits in subparagraphs (A), (B)
55 and (C) of this paragraph. The fraction for this subparagraph is
56 computed as follows: the numerator is the lesser of fifty thousand
A. 4604 13
1 dollars or the excess of New York adjusted gross income for the taxable
2 year over [two million] six hundred thousand dollars and the denominator
3 is fifty thousand dollars. [This subparagraph shall apply only to taxa-
4 ble years beginning on or after January first, two thousand twelve and
5 before January first, two thousand twenty-five] Provided, however, this
6 subparagraph shall not apply to taxpayers who are not subject to the 8
7 percent tax rate.
8 (E) The tax table benefit is the difference between (i) the amount of
9 taxable income set forth in the tax table in paragraph one of subsection
10 (a) of this section not subject to the 8.5 percent rate of tax for the
11 taxable year multiplied by such rate and (ii) the dollar denominated tax
12 for such amount of taxable income set forth in the tax table applicable
13 to the taxable year in paragraph one of subsection (a) of this section
14 less the sum of the tax table benefit in subparagraphs (A) through (D)
15 of this paragraph. The fraction for this subparagraph is computed as
16 follows: the numerator is the lesser of fifty thousand dollars or the
17 excess of New York adjusted gross income for the taxable year over seven
18 hundred thousand dollars and the denominator is fifty thousand dollars.
19 Provided, however, this subparagraph shall not apply to taxpayers who
20 are not subject to the 8.5 percent tax rate.
21 (F) The tax table benefit is the difference between (i) the amount of
22 taxable income set forth in the tax table in paragraph one of subsection
23 (a) of this section not subject to the 9 percent rate of tax for the
24 taxable year multiplied by such rate and (ii) the dollar denominated tax
25 for such amount of taxable income set forth in the tax table applicable
26 to the taxable year in paragraph one of subsection (a) of this section
27 less the sum of the tax table benefit in subparagraphs (A) through (E)
28 of this paragraph. The fraction for this subparagraph is computed as
29 follows: the numerator is the lesser of fifty thousand dollars or the
30 excess of New York adjusted gross income for the taxable year over eight
31 hundred thousand dollars and the denominator is fifty thousand dollars.
32 Provided, however, this subparagraph shall not apply to taxpayers who
33 are not subject to the 9 percent tax rate.
34 (G) The tax table benefit is the difference between (i) the amount of
35 taxable income set forth in the tax table in paragraph one of subsection
36 (a) of this section not subject to the 9.5 percent rate of tax for the
37 taxable year multiplied by such rate and (ii) the dollar denominated tax
38 for such amount of taxable income set forth in the tax table applicable
39 to the taxable year in paragraph one of subsection (a) of this section
40 less the sum of the tax table benefit in subparagraphs (A) through (F)
41 of this paragraph. The fraction for this subparagraph is computed as
42 follows: the numerator is the lesser of fifty thousand dollars or the
43 excess of New York adjusted gross income for the taxable year over nine
44 hundred thousand dollars and the denominator is fifty thousand dollars.
45 Provided, however, this subparagraph shall not apply to taxpayers who
46 are not subject to the 9.5 percent tax rate.
47 (H) The tax table benefit is the difference between (i) the amount of
48 taxable income set forth in the tax table in paragraph one of subsection
49 (a) of this section not subject to the 10 percent rate of tax for the
50 taxable year multiplied by such rate and (ii) the dollar denominated tax
51 for such amount of taxable income set forth in the tax table applicable
52 to the taxable year in paragraph one of subsection (a) of this section
53 less the sum of the tax table benefit in subparagraphs (A) through (G)
54 of this paragraph. The fraction for this subparagraph is computed as
55 follows: the numerator is the lesser of fifty thousand dollars or the
56 excess of New York adjusted gross income for the taxable year over one
A. 4604 14
1 million dollars and the denominator is fifty thousand dollars. Provided,
2 however, this subparagraph shall not apply to taxpayers who are not
3 subject to the 10 percent tax rate.
4 (I) The tax table benefit is the difference between (i) the amount of
5 taxable income set forth in the tax table in paragraph one of subsection
6 (a) of this section not subject to the 11 percent rate of tax for the
7 taxable year multiplied by such rate and (ii) the dollar denominated tax
8 for such amount of taxable income set forth in the tax table applicable
9 to the taxable year in paragraph one of subsection (a) of this section
10 less the sum of the tax table benefit in subparagraphs (A) through (H)
11 of this paragraph. The fraction for this subparagraph is computed as
12 follows: the numerator is the lesser of fifty thousand dollars or the
13 excess of New York adjusted gross income for the taxable year over one
14 million one hundred thousand dollars and the denominator is fifty thou-
15 sand dollars. Provided, however, this subparagraph shall not apply to
16 taxpayers who are not subject to the 11 percent tax rate.
17 (J) The tax table benefit is the difference between (i) the amount of
18 taxable income set forth in the tax table in paragraph one of subsection
19 (a) of this section not subject to the 12 percent rate of tax for the
20 taxable year multiplied by such rate and (ii) the dollar denominated tax
21 for such amount of taxable income set forth in the tax table applicable
22 to the taxable year in paragraph one of subsection (a) of this section
23 less the sum of the tax table benefit in subparagraphs (A) through (I)
24 of this paragraph. The fraction for this subparagraph is computed as
25 follows: the numerator is the lesser of fifty thousand dollars or the
26 excess of New York adjusted gross income for the taxable year over one
27 million two hundred thousand dollars and the denominator is fifty thou-
28 sand dollars. Provided, however, this subparagraph shall not apply to
29 taxpayers who are not subject to the 12 percent tax rate.
30 (K) The tax table benefit is the difference between (i) the amount of
31 taxable income set forth in the tax table in paragraph one of subsection
32 (a) of this section not subject to the 13 percent rate of tax for the
33 taxable year multiplied by such rate and (ii) the dollar denominated tax
34 for such amount of taxable income set forth in the tax table applicable
35 to the taxable year in paragraph one of subsection (a) of this section
36 less the sum of the tax table benefit in subparagraphs (A) through (J)
37 of this paragraph. The fraction for this subparagraph is computed as
38 follows: the numerator is the lesser of fifty thousand dollars or the
39 excess of New York adjusted gross income for the taxable year over five
40 million five hundred thousand dollars and the denominator is fifty thou-
41 sand dollars. Provided, however, this subparagraph shall not apply to
42 taxpayers who are not subject to the 13 percent tax rate.
43 (L) The tax table benefit is the difference between (i) the amount of
44 taxable income set forth in the tax table in paragraph one of subsection
45 (a) of this section not subject to the 14 percent rate of tax for the
46 taxable year multiplied by such rate and (ii) the dollar denominated tax
47 for such amount of taxable income set forth in the tax table applicable
48 to the taxable year in paragraph one of subsection (a) of this section
49 less the sum of the tax table benefit in subparagraphs (A) through (K)
50 of this paragraph. The fraction for this subparagraph is computed as
51 follows: the numerator is the lesser of fifty thousand dollars or the
52 excess of New York adjusted gross income for the taxable year over elev-
53 en million dollars and the denominator is fifty thousand dollars.
54 Provided, however, this subparagraph shall not apply to taxpayers who
55 are not subject to the 14 percent tax rate.
A. 4604 15
1 (M) The tax table benefit is the difference between (i) the amount of
2 taxable income set forth in the tax table in paragraph one of subsection
3 (a) of this section not subject to the 15 percent rate of tax for the
4 taxable year multiplied by such rate and (ii) the dollar denominated tax
5 for such amount of taxable income set forth in the tax table applicable
6 to the taxable year in paragraph one of subsection (a) of this section
7 less the sum of the tax table benefit in subparagraphs (A) through (L)
8 of this paragraph. The fraction for this subparagraph is computed as
9 follows: the numerator is the lesser of fifty thousand dollars or the
10 excess of New York adjusted gross income for the taxable year over one
11 hundred ten million dollars and the denominator is fifty thousand
12 dollars. Provided, however, this subparagraph shall not apply to taxpay-
13 ers who are not subject to the 15 percent tax rate.
14 (N) Provided, however, the total tax prior to the application of any
15 tax credits shall not exceed the highest rate of tax set forth in the
16 tax tables in subsection (a) of this section multiplied by the taxpay-
17 er's taxable income.
18 § 5. Subparagraphs (A), (B), (C) and (D) of paragraph 2 of subsection
19 (d-1) of section 601 of the tax law, as added by section 7 of part A of
20 chapter 56 of the laws of 2011, subparagraph (C) as amended by section 5
21 of part P of chapter 59 of the laws of 2019, are amended to read as
22 follows:
23 (A) The tax table benefit is the difference between (i) the amount of
24 taxable income set forth in the tax table in paragraph one of subsection
25 (b) of this section not subject to the [6.65] 6.33 percent rate of tax
26 for the taxable year multiplied by such rate and (ii) the dollar denomi-
27 nated tax for such amount of taxable income set forth in the tax table
28 applicable to the taxable year in paragraph one of subsection (b) of
29 this section. The fraction for this subparagraph is computed as
30 follows: the numerator is the lesser of fifty thousand dollars or the
31 excess of New York adjusted gross income for the taxable year over one
32 hundred seven thousand six hundred fifty dollars and the denominator is
33 fifty thousand dollars.
34 (B) The tax table benefit is the difference between (i) the amount of
35 taxable income set forth in the tax table in paragraph one of subsection
36 (b) of this section not subject to the 6.85 percent rate of tax for the
37 taxable year multiplied by such rate and (ii) the dollar denominated tax
38 for such amount of taxable income set forth in the tax table applicable
39 to the taxable year in paragraph one of subsection (b) of this section
40 less the tax table benefit in subparagraph (A) of this paragraph. The
41 fraction for this subparagraph is computed as follows: the numerator is
42 the lesser of fifty thousand dollars or the excess of New York adjusted
43 gross income for the taxable year over two hundred [fifty] sixty-nine
44 thousand three hundred dollars and the denominator is fifty thousand
45 dollars. Provided, however, this subparagraph shall not apply to taxpay-
46 ers who are not subject to the 6.85 percent tax rate.
47 (C) The tax table benefit is the difference between (i) the amount of
48 taxable income set forth in the tax table in paragraph one of subsection
49 (b) of this section not subject to the [8.82] 7.5 percent rate of tax
50 for the taxable year multiplied by such rate and (ii) the dollar denomi-
51 nated tax for such amount of taxable income set forth in the tax table
52 applicable to the taxable year in paragraph one of subsection (b) of
53 this section less the sum of the tax table benefits in subparagraphs (A)
54 and (B) of this paragraph. The fraction for this subparagraph is
55 computed as follows: the numerator is the lesser of fifty thousand
56 dollars or the excess of New York adjusted gross income for the taxable
A. 4604 16
1 year over [one million five] four hundred fifty thousand dollars and the
2 denominator is fifty thousand dollars. [This subparagraph shall apply
3 only to taxable years beginning on or after January first, two thousand
4 twelve and before January first, two thousand twenty-five] Provided,
5 however, this subparagraph shall not apply to taxpayers who are not
6 subject to the 7.5 percent tax rate.
7 (D) The tax table benefit is the difference between (i) the amount of
8 taxable income set forth in the tax table in paragraph one of subsection
9 (b) of this section not subject to the 8 percent rate of tax for the
10 taxable year multiplied by such rate and (ii) the dollar denominated tax
11 for such amount of taxable income set forth in the tax table applicable
12 to the taxable year in paragraph one of subsection (b) of this section
13 less the sum of the tax table benefit in subparagraphs (A), (B) and (C)
14 of this paragraph. The fraction for this subparagraph is computed as
15 follows: the numerator is the lesser of fifty thousand dollars or the
16 excess of New York adjusted gross income for the taxable year over six
17 hundred thousand dollars and the denominator is fifty thousand dollars.
18 Provided, however, this subparagraph shall not apply to taxpayers who
19 are not subject to the 8 percent tax rate.
20 (E) The tax table benefit is the difference between (i) the amount of
21 taxable income set forth in the tax table in paragraph one of subsection
22 (b) of this section not subject to the 8.5 percent rate of tax for the
23 taxable year multiplied by such rate and (ii) the dollar denominated tax
24 for such amount of taxable income set forth in the tax table applicable
25 to the taxable year in paragraph one of subsection (b) of this section
26 less the sum of the tax table benefit in subparagraphs (A) through (D)
27 of this paragraph. The fraction for this subparagraph is computed as
28 follows: the numerator is the lesser of fifty thousand dollars or the
29 excess of New York adjusted gross income for the taxable year over seven
30 hundred thousand dollars and the denominator is fifty thousand dollars.
31 Provided, however, this subparagraph shall not apply to taxpayers who
32 are not subject to the 8.5 percent tax rate.
33 (F) The tax table benefit is the difference between (i) the amount of
34 taxable income set forth in the tax table in paragraph one of subsection
35 (b) of this section not subject to the 9 percent rate of tax for the
36 taxable year multiplied by such rate and (ii) the dollar denominated tax
37 for such amount of taxable income set forth in the tax table applicable
38 to the taxable year in paragraph one of subsection (b) of this section
39 less the sum of the tax table benefit in subparagraphs (A) through (E)
40 of this paragraph. The fraction for this subparagraph is computed as
41 follows: the numerator is the lesser of fifty thousand dollars or the
42 excess of New York adjusted gross income for the taxable year over eight
43 hundred thousand dollars and the denominator is fifty thousand dollars.
44 Provided, however, this subparagraph shall not apply to taxpayers who
45 are not subject to the 9 percent tax rate.
46 (G) The tax table benefit is the difference between (i) the amount of
47 taxable income set forth in the tax table in paragraph one of subsection
48 (b) of this section not subject to the 9.5 percent rate of tax for the
49 taxable year multiplied by such rate and (ii) the dollar denominated tax
50 for such amount of taxable income set forth in the tax table applicable
51 to the taxable year in paragraph one of subsection (b) of this section
52 less the sum of the tax table benefit in subparagraphs (A) through (F)
53 of this paragraph. The fraction for this subparagraph is computed as
54 follows: the numerator is the lesser of fifty thousand dollars or the
55 excess of New York adjusted gross income for the taxable year over nine
56 hundred thousand dollars and the denominator is fifty thousand dollars.
A. 4604 17
1 Provided, however, this subparagraph shall not apply to taxpayers who
2 are not subject to the 9.5 percent tax rate.
3 (H) The tax table benefit is the difference between (i) the amount of
4 taxable income set forth in the tax table in paragraph one of subsection
5 (b) of this section not subject to the 10 percent rate of tax for the
6 taxable year multiplied by such rate and (ii) the dollar denominated tax
7 for such amount of taxable income set forth in the tax table applicable
8 to the taxable year in paragraph one of subsection (b) of this section
9 less the sum of the tax table benefit in subparagraphs (A) through (G)
10 of this paragraph. The fraction for this subparagraph is computed as
11 follows: the numerator is the lesser of fifty thousand dollars or the
12 excess of New York adjusted gross income for the taxable year over one
13 million dollars and the denominator is fifty thousand dollars. Provided,
14 however, this subparagraph shall not apply to taxpayers who are not
15 subject to the 10 percent tax rate.
16 (I) The tax table benefit is the difference between (i) the amount of
17 taxable income set forth in the tax table in paragraph one of subsection
18 (b) of this section not subject to the 11 percent rate of tax for the
19 taxable year multiplied by such rate and (ii) the dollar denominated tax
20 for such amount of taxable income set forth in the tax table applicable
21 to the taxable year in paragraph one of subsection (b) of this section
22 less the sum of the tax table benefit in subparagraphs (A) through (H)
23 of this paragraph. The fraction for this subparagraph is computed as
24 follows: the numerator is the lesser of fifty thousand dollars or the
25 excess of New York adjusted gross income for the taxable year over one
26 million one hundred thousand dollars and the denominator is fifty thou-
27 sand dollars. Provided, however, this subparagraph shall not apply to
28 taxpayers who are not subject to the 11 percent tax rate.
29 (J) The tax table benefit is the difference between (i) the amount of
30 taxable income set forth in the tax table in paragraph one of subsection
31 (b) of this section not subject to the 12 percent rate of tax for the
32 taxable year multiplied by such rate and (ii) the dollar denominated tax
33 for such amount of taxable income set forth in the tax table applicable
34 to the taxable year in paragraph one of subsection (b) of this section
35 less the sum of the tax table benefit in subparagraphs (A) through (I)
36 of this paragraph. The fraction for this subparagraph is computed as
37 follows: the numerator is the lesser of fifty thousand dollars or the
38 excess of New York adjusted gross income for the taxable year over one
39 million two hundred thousand dollars and the denominator is fifty thou-
40 sand dollars. Provided, however, this subparagraph shall not apply to
41 taxpayers who are not subject to the 12 percent tax rate.
42 (K) The tax table benefit is the difference between (i) the amount of
43 taxable income set forth in the tax table in paragraph one of subsection
44 (b) of this section not subject to the 13 percent rate of tax for the
45 taxable year multiplied by such rate and (ii) the dollar denominated tax
46 for such amount of taxable income set forth in the tax table applicable
47 to the taxable year in paragraph one of subsection (b) of this section
48 less the sum of the tax table benefit in subparagraphs (A) through (J)
49 of this paragraph. The fraction for this subparagraph is computed as
50 follows: the numerator is the lesser of fifty thousand dollars or the
51 excess of New York adjusted gross income for the taxable year over five
52 million five hundred thousand dollars and the denominator is fifty thou-
53 sand dollars. Provided, however, this subparagraph shall not apply to
54 taxpayers who are not subject to the 13 percent tax rate.
55 (L) The tax table benefit is the difference between (i) the amount of
56 taxable income set forth in the tax table in paragraph one of subsection
A. 4604 18
1 (b) of this section not subject to the 14 percent rate of tax for the
2 taxable year multiplied by such rate and (ii) the dollar denominated tax
3 for such amount of taxable income set forth in the tax table applicable
4 to the taxable year in paragraph one of subsection (b) of this section
5 less the sum of the tax table benefit in subparagraphs (A) through (K)
6 of this paragraph. The fraction for this subparagraph is computed as
7 follows: the numerator is the lesser of fifty thousand dollars or the
8 excess of New York adjusted gross income for the taxable year over elev-
9 en million dollars and the denominator is fifty thousand dollars.
10 Provided, however, this subparagraph shall not apply to taxpayers who
11 are not subject to the 14 percent tax rate.
12 (M) The tax table benefit is the difference between (i) the amount of
13 taxable income set forth in the tax table in paragraph one of subsection
14 (b) of this section not subject to the 15 percent rate of tax for the
15 taxable year multiplied by such rate and (ii) the dollar denominated tax
16 for such amount of taxable income set forth in the tax table applicable
17 to the taxable year in paragraph one of subsection (b) of this section
18 less the sum of the tax table benefit in subparagraphs (A) through (L)
19 of this paragraph. The fraction for this subparagraph is computed as
20 follows: the numerator is the lesser of fifty thousand dollars or the
21 excess of New York adjusted gross income for the taxable year over one
22 hundred ten million dollars and the denominator is fifty thousand
23 dollars. Provided, however, this subparagraph shall not apply to taxpay-
24 ers who are not subject to the 15 percent tax rate.
25 (N) Provided, however, the total tax prior to the application of any
26 tax credits shall not exceed the highest rate of tax set forth in the
27 tax tables in subsection (b) of this section multiplied by the taxpay-
28 er's taxable income.
29 § 6. Subparagraphs (A), (B), (C) and (D) of paragraph 3 of subsection
30 (d-1) of section 601 of the tax law, as added by section 7 of part A of
31 chapter 56 of the laws of 2011, subparagraph (C) as amended by section 6
32 of part P of chapter 59 of the laws of 2019, are amended to read as
33 follows:
34 (A) The tax table benefit is the difference between (i) the amount of
35 taxable income set forth in the tax table in paragraph one of subsection
36 (c) of this section not subject to the [6.65] 6.33 percent rate of tax
37 for the taxable year multiplied by such rate and (ii) the dollar denomi-
38 nated tax for such amount of taxable income set forth in the tax table
39 applicable to the taxable year in paragraph one of subsection (c) of
40 this section. The fraction is computed as follows: the numerator is the
41 lesser of fifty thousand dollars or the excess of New York adjusted
42 gross income for the taxable year over one hundred thousand dollars and
43 the denominator is fifty thousand dollars.
44 (B) The tax table benefit is the difference between (i) the amount of
45 taxable income set forth in the tax table in paragraph one of subsection
46 (c) of this section not subject to the 6.85 percent rate of tax for the
47 taxable year multiplied by such rate and (ii) the dollar denominated tax
48 for such amount of taxable income set forth in the tax table applicable
49 to the taxable year in paragraph one of subsection (c) of this section
50 less the tax table benefit in subparagraph (A) of this paragraph. The
51 fraction for this subparagraph is computed as follows: the numerator is
52 the lesser of fifty thousand dollars or the excess of New York adjusted
53 gross income for the taxable year over two hundred fifteen thousand four
54 hundred dollars and the denominator is fifty thousand dollars. Provided,
55 however, this subparagraph shall not apply to taxpayers who are not
56 subject to the 6.85 percent tax rate.
A. 4604 19
1 (C) The tax table benefit is the difference between (i) the amount of
2 taxable income set forth in the tax table in paragraph one of subsection
3 (c) of this section not subject to the [8.82] 7.5 percent rate of tax
4 for the taxable year multiplied by such rate and (ii) the dollar denomi-
5 nated tax for such amount of taxable income set forth in the tax table
6 applicable to the taxable year in paragraph one of subsection (c) of
7 this section less the sum of the tax table benefits in subparagraphs (A)
8 and (B) of this paragraph. The fraction for this subparagraph is
9 computed as follows: the numerator is the lesser of fifty thousand
10 dollars or the excess of New York adjusted gross income for the taxable
11 year over [one million] three hundred thousand dollars and the denomina-
12 tor is fifty thousand dollars. [This subparagraph shall apply only to
13 taxable years beginning on or after January first, two thousand twelve
14 and before January first, two thousand twenty-five] Provided, however,
15 this subparagraph shall not apply to taxpayers who are not subject to
16 the 7.5 percent tax rate.
17 (D) The tax table benefit is the difference between (i) the amount of
18 taxable income set forth in the tax table in paragraph one of subsection
19 (c) of this section not subject to the 8 percent rate of tax for the
20 taxable year multiplied by such rate and (ii) the dollar denominated tax
21 for such amount of taxable income set forth in the tax table applicable
22 to the taxable year in paragraph one of subsection (c) of this section
23 less the sum of the tax table benefit in subparagraphs (A), (B) and (C)
24 of this paragraph. The fraction for this subparagraph is computed as
25 follows: the numerator is the lesser of fifty thousand dollars or the
26 excess of New York adjusted gross income for the taxable year over four
27 hundred thousand dollars and the denominator is fifty thousand dollars.
28 Provided, however, this subparagraph shall not apply to taxpayers who
29 are not subject to the 8 percent tax rate.
30 (E) The tax table benefit is the difference between (i) the amount of
31 taxable income set forth in the tax table in paragraph one of subsection
32 (c) of this section not subject to the 8.5 percent rate of tax for the
33 taxable year multiplied by such rate and (ii) the dollar denominated tax
34 for such amount of taxable income set forth in the tax table applicable
35 to the taxable year in paragraph one of subsection (c) of this section
36 less the sum of the tax table benefit in subparagraphs (A) through (D)
37 of this paragraph. The fraction for this subparagraph is computed as
38 follows: the numerator is the lesser of fifty thousand dollars or the
39 excess of New York adjusted gross income for the taxable year over five
40 hundred thousand dollars and the denominator is fifty thousand dollars.
41 Provided, however, this subparagraph shall not apply to taxpayers who
42 are not subject to the 8.5 percent tax rate.
43 (F) The tax table benefit is the difference between (i) the amount of
44 taxable income set forth in the tax table in paragraph one of subsection
45 (c) of this section not subject to the 9 percent rate of tax for the
46 taxable year multiplied by such rate and (ii) the dollar denominated tax
47 for such amount of taxable income set forth in the tax table applicable
48 to the taxable year in paragraph one of subsection (c) of this section
49 less the sum of the tax table benefit in subparagraphs (A) through (E)
50 of this paragraph. The fraction for this subparagraph is computed as
51 follows: the numerator is the lesser of fifty thousand dollars or the
52 excess of New York adjusted gross income for the taxable year over six
53 hundred thousand dollars and the denominator is fifty thousand dollars.
54 Provided, however, this subparagraph shall not apply to taxpayers who
55 are not subject to the 9 percent tax rate.
A. 4604 20
1 (G) The tax table benefit is the difference between (i) the amount of
2 taxable income set forth in the tax table in paragraph one of subsection
3 (c) of this section not subject to the 9.5 percent rate of tax for the
4 taxable year multiplied by such rate and (ii) the dollar denominated tax
5 for such amount of taxable income set forth in the tax table applicable
6 to the taxable year in paragraph one of subsection (c) of this section
7 less the sum of the tax table benefit in subparagraphs (A) through (F)
8 of this paragraph. The fraction for this subparagraph is computed as
9 follows: the numerator is the lesser of fifty thousand dollars or the
10 excess of New York adjusted gross income for the taxable year over seven
11 hundred thousand dollars and the denominator is fifty thousand dollars.
12 Provided, however, this subparagraph shall not apply to taxpayers who
13 are not subject to the 9.5 percent tax rate.
14 (H) The tax table benefit is the difference between (i) the amount of
15 taxable income set forth in the tax table in paragraph one of subsection
16 (c) of this section not subject to the 10 percent rate of tax for the
17 taxable year multiplied by such rate and (ii) the dollar denominated tax
18 for such amount of taxable income set forth in the tax table applicable
19 to the taxable year in paragraph one of subsection (c) of this section
20 less the sum of the tax table benefit in subparagraphs (A) through (G)
21 of this paragraph. The fraction for this subparagraph is computed as
22 follows: the numerator is the lesser of fifty thousand dollars or the
23 excess of New York adjusted gross income for the taxable year over eight
24 hundred thousand dollars and the denominator is fifty thousand dollars.
25 Provided, however, this subparagraph shall not apply to taxpayers who
26 are not subject to the 10 percent tax rate.
27 (I) The tax table benefit is the difference between (i) the amount of
28 taxable income set forth in the tax table in paragraph one of subsection
29 (c) of this section not subject to the 11 percent rate of tax for the
30 taxable year multiplied by such rate and (ii) the dollar denominated tax
31 for such amount of taxable income set forth in the tax table applicable
32 to the taxable year in paragraph one of subsection (c) of this section
33 less the sum of the tax table benefit in subparagraphs (A) through (H)
34 of this paragraph. The fraction for this subparagraph is computed as
35 follows: the numerator is the lesser of fifty thousand dollars or the
36 excess of New York adjusted gross income for the taxable year over nine
37 hundred thousand dollars and the denominator is fifty thousand dollars.
38 Provided, however, this subparagraph shall not apply to taxpayers who
39 are not subject to the 11 percent tax rate.
40 (J) The tax table benefit is the difference between (i) the amount of
41 taxable income set forth in the tax table in paragraph one of subsection
42 (c) of this section not subject to the 12 percent rate of tax for the
43 taxable year multiplied by such rate and (ii) the dollar denominated tax
44 for such amount of taxable income set forth in the tax table applicable
45 to the taxable year in paragraph one of subsection (c) of this section
46 less the sum of the tax table benefit in subparagraphs (A) through (I)
47 of this paragraph. The fraction for this subparagraph is computed as
48 follows: the numerator is the lesser of fifty thousand dollars or the
49 excess of New York adjusted gross income for the taxable year over one
50 million dollars and the denominator is fifty thousand dollars. Provided,
51 however, this subparagraph shall not apply to taxpayers who are not
52 subject to the 12 percent tax rate.
53 (K) The tax table benefit is the difference between (i) the amount of
54 taxable income set forth in the tax table in paragraph one of subsection
55 (c) of this section not subject to the 13 percent rate of tax for the
56 taxable year multiplied by such rate and (ii) the dollar denominated tax
A. 4604 21
1 for such amount of taxable income set forth in the tax table applicable
2 to the taxable year in paragraph one of subsection (c) of this section
3 less the sum of the tax table benefit in subparagraphs (A) through (J)
4 of this paragraph. The fraction for this subparagraph is computed as
5 follows: the numerator is the lesser of fifty thousand dollars or the
6 excess of New York adjusted gross income for the taxable year over five
7 million dollars and the denominator is fifty thousand dollars. Provided,
8 however, this subparagraph shall not apply to taxpayers who are not
9 subject to the 13 percent tax rate.
10 (L) The tax table benefit is the difference between (i) the amount of
11 taxable income set forth in the tax table in paragraph one of subsection
12 (c) of this section not subject to the 14 percent rate of tax for the
13 taxable year multiplied by such rate and (ii) the dollar denominated tax
14 for such amount of taxable income set forth in the tax table applicable
15 to the taxable year in paragraph one of subsection (c) of this section
16 less the sum of the tax table benefit in subparagraphs (A) through (K)
17 of this paragraph. The fraction for this subparagraph is computed as
18 follows: the numerator is the lesser of fifty thousand dollars or the
19 excess of New York adjusted gross income for the taxable year over ten
20 million dollars and the denominator is fifty thousand dollars. Provided,
21 however, this subparagraph shall not apply to taxpayers who are not
22 subject to the 14 percent tax rate.
23 (M) The tax table benefit is the difference between (i) the amount of
24 taxable income set forth in the tax table in paragraph one of subsection
25 (c) of this section not subject to the 15 percent rate of tax for the
26 taxable year multiplied by such rate and (ii) the dollar denominated tax
27 for such amount of taxable income set forth in the tax table applicable
28 to the taxable year in paragraph one of subsection (c) of this section
29 less the sum of the tax table benefit in subparagraphs (A) through (L)
30 of this paragraph. The fraction for this subparagraph is computed as
31 follows: the numerator is the lesser of fifty thousand dollars or the
32 excess of New York adjusted gross income for the taxable year over one
33 hundred million dollars and the denominator is fifty thousand dollars.
34 Provided, however, this subparagraph shall not apply to taxpayers who
35 are not subject to the 15 percent tax rate.
36 (N) Provided, however, the total tax prior to the application of any
37 tax credits shall not exceed the highest rate of tax set forth in the
38 tax tables in subsection (c) of this section multiplied by the taxpay-
39 er's taxable income.
40 § 7. This act shall take effect immediately.
