STATE OF NEW YORK
________________________________________________________________________
9100
IN ASSEMBLY
January 26, 2016
___________
Introduced by M. of A. KOLB -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to calculation of the personal
income tax
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph 1 of subsection (a) of section 601 of the tax
2 law, as amended by section 1 of part FF of chapter 59 of the laws of
3 2013, is amended to read as follows:
4 (1) (A) For taxable years beginning after two thousand [eleven and
5 before two thousand eighteen] sixteen:
6 If the New York taxable income is: The tax is:
7 Not over [$16,000] $40,000 [4%] 0% of
8 taxable income
9 [Over $16,000 but not over $22,000 $640 plus 4.5% of excess over
10 $16,000
11 Over $22,000 but not over $26,000 $910 plus 5.25% of excess over
12 $22,000
13 Over $26,000 but not over $40,000 $1,120 plus 5.90% of excess over
14 $26,000]
15 Over $40,000 but not over $150,000 $1,946 plus 6.45% of excess over
16 $40,000
17 Over $150,000 but not over $300,000 $9,041 plus 6.65% of excess over
18 $150,000
19 Over $300,000 but not over $2,000,000 $19,016 plus 6.85% of excess over
20 $300,000
21 Over $2,000,000 $135,466 plus 8.82% of excess over
22 $2,000,000
23 (B) For taxable years beginning after two thousand seventeen, the
24 following brackets and dollar amounts shall apply, as adjusted by the
25 cost of living adjustment prescribed in section six hundred one-a of
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13301-01-5
A. 9100 2
1 this part for tax years two thousand thirteen through two thousand
2 seventeen:
3 [If the New York taxable income is: The tax is:
4 Not over $16,000 4% of taxable income
5 Over $16,000 but not over $22,000 $640 plus 4.5% of excess over
6 $16,000
7 Over $22,000 but not over $26,000 $910 plus 5.25% of excess over
8 $22,000
9 Over $26,000 but not over $40,000 $1,120 plus 5.90% of excess over
10 $26,000]
11 Over $40,000 $1,946 plus 6.85% of excess over
12 $40,000
13 § 2. Paragraph 1 of subsection (b) of section 601 of the tax law, as
14 amended by section 2 of part FF of chapter 59 of the laws of 2013, is
15 amended to read as follows:
16 (1) (A) For taxable years beginning after two thousand [eleven and
17 before two thousand eighteen] sixteen:
18 If the New York taxable income is: The tax is:
19 Not over [$12,000] $30,000 [4%] 0% of
20 taxable income
21 [Over $12,000 but not over $16,500 $480 plus 4.5% of excess over
22 $12,000
23 Over $16,500 but not over $19,500 $683 plus 5.25% of excess over
24 $16,500
25 Over $19,500 but not over $30,000 $840 plus 5.90% of excess over
26 $19,500]
27 Over $30,000 but not over $100,000 $1,460 plus 6.45% of excess over
28 $30,000
29 Over $100,000 but not over $250,000 $5,975 plus 6.65% of excess over
30 $100,000
31 Over $250,000 but not over $1,500,000 $15,950 plus 6.85% of excess over
32 $250,000
33 Over $1,500,000 $101,575 plus 8.82% of excess over
34 $1,500,000
35 (B) For taxable years beginning after two thousand seventeen, the
36 following brackets and dollars amounts shall apply, as adjusted by the
37 cost of living adjustment prescribed in section six hundred one-a of
38 this part for tax years two thousand thirteen through two thousand
39 seventeen:
40 [If the New York taxable income is: The tax is:
41 Not over $12,000 4% of taxable income
42 Over $12,000 but not over $16,500 $480 plus 4.5% of excess over
43 $12,000
44 Over $16,500 but not over $19,500 $683 plus 5.25% of excess over
45 $16,500
46 Over $19,500 but not over $30,000 $840 plus 5.90% of excess over
47 $19,500]
48 Over $30,000 $1,460 plus 6.85% of excess over
49 $30,000
A. 9100 3
1 § 3. Paragraph 1 of subsection (c) of section 601 of the tax law, as
2 amended by section 3 of part FF of chapter 59 of the laws of 2013, is
3 amended to read as follows:
4 (1) (A) For taxable years beginning after two thousand [eleven and
5 before two thousand eighteen] sixteen:
6 If the New York taxable income is: The tax is:
7 Not over [$8,000] $20,000 [4%] 0% of
8 taxable income
9 [Over $8,000 but not over $11,000 $320 plus 4.5% of excess over
10 $8,000
11 Over $11,000 but not over $13,000 $455 plus 5.25% of excess over
12 $11,000
13 Over $13,000 but not over $20,000 $560 plus 5.90% of excess over
14 $13,000]
15 Over $20,000 but not over $75,000 $973 plus 6.45% of excess over
16 $20,000
17 Over $75,000 but not over $200,000 $4,521 plus 6.65% of excess over
18 $75,000
19 Over $200,000 but not over $1,000,000 $12,833 plus 6.85% of excess over
20 $200,000
21 Over $1,000,000 $67,633 plus 8.82% of excess over
22 $1,000,000
23 (B) For taxable years beginning after two thousand seventeen, the
24 following brackets and dollars amounts shall apply, as adjusted by the
25 cost of living adjustment prescribed in section six hundred one-a of
26 this part for tax years two thousand thirteen through two thousand
27 seventeen:
28 [If the New York taxable income is: The tax is:
29 Not over $8,000 4% of taxable income
30 Over $8,000 but not over $11,000 $320 plus 4.5% of excess over
31 $8,000
32 Over $11,000 but not over $13,000 $455 plus 5.25% of excess over
33 $11,000
34 Over $13,000 but not over $20,000 $560 plus 5.90% of excess over
35 $13,000]
36 Over $20,000 $973 plus 6.85% of excess over
37 $20,000
38 § 4. This act shall take effect immediately and shall apply to taxable
39 years beginning on and after January 1, 2016.
