STATE OF NEW YORK
________________________________________________________________________
11253
IN ASSEMBLY
May 4, 2026
___________
Introduced by M. of A. SMULLEN -- read once and referred to the Commit-
tee on Ways and Means
AN ACT to amend the tax law, in relation to the personal income tax
rate; and to repeal certain provisions of such law relating thereto
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subsection (a) of section 601 of the tax law is REPEALED
2 and a new subsection (a) is added to read as follows:
3 (a) Resident married individuals filing joint returns and resident
4 surviving spouses. There is hereby imposed for each taxable year on the
5 New York taxable income of every resident married individual who makes a
6 single return jointly with their spouse under subsection (b) of section
7 six hundred fifty-one of this article and on the New York taxable income
8 of every resident surviving spouse a tax determined in accordance with
9 the following tables:
10 (1) For taxable years beginning in two thousand twenty-six, the
11 following rates shall apply:
12 If the New York taxable income is:The tax is:
13 Not over $10,000$0
14 Over $10,000 but not over $500,0004% of excess over $10,000
15 Over $500,000 but not over$19,600 plus 5% of excess over
16 $2,155,350$500,000
17 Over $2,155,350 but not over$102,367.50 plus 9.65% of excess
18 $5,000,000over $2,155,350
19 Over $5,000,000 but not over$376,876.23 plus 10.30% of
20 $25,000,000excess over $5,000,000
21 Over $25,000,000$2,436,876.23 plus 10.90% of
22 excess over $25,000,000
23 (2) For taxable years beginning in two thousand twenty-seven, the
24 following rates shall apply:
25 If the New York taxable income is:The tax is:
26 Not over $20,000$0
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14609-02-6
A. 11253 2
1 Over $20,000 but not over $500,0004% of excess over $20,000
2 Over $500,000 but not over$19,200 plus 5% of excess over
3 $2,155,350$500,000
4 Over $2,155,350 but not over$101,967.50 plus 9.65% of excess
5 $5,000,000over $2,155,350
6 Over $5,000,000 but not over$376,476.23 plus 10.30% of
7 $25,000,000excess over $5,000,000
8 Over $25,000,000$2,436,476.23 plus 10.90% of
9 excess over $25,000,000
10 (3) For taxable years beginning in two thousand twenty-eight, the
11 following rates shall apply:
12 If the New York taxable income is:The tax is:
13 Not over $30,000$0
14 Over $30,000 but not over4% of excess over
15 $500,000$30,000
16 Over $500,000 but not over$18,800 plus 5% of excess
17 $2,155,350over $500,000
18 Over $2,155,350 but not over$101,567.50 plus 9.65% of excess
19 $5,000,000over $2,155,350
20 Over $5,000,000 but not over$376,076.23 plus 10.30% of
21 $25,000,000excess over $5,000,000
22 Over $25,000,000$2,436,076.23 plus 10.90% of
23 excess over $25,000,000
24 (4) For taxable years beginning in two thousand twenty-nine, the
25 following rates shall apply:
26 If the New York taxable income is:The tax is:
27 Not over $40,000$0
28 Over $40,000 but not over4% of excess over
29 $500,000$40,000
30 Over $500,000 but not over$18,400 plus 5% of excess
31 $2,155,350over $500,000
32 Over $2,155,350 but not over$101,167.50 plus 9.65% of excess
33 $5,000,000over $2,155,350
34 Over $5,000,000 but not over$375,676.23 plus 10.30% of
35 $25,000,000excess over $5,000,000
36 Over $25,000,000$2,435,676.23 plus 10.90% of
37 excess over $25,000,000
38 (5) For taxable years beginning in two thousand thirty, the following
39 rates shall apply:
40 If the New York taxable income is:The tax is:
41 Not over $50,000$0
42 Over $50,000 but not over $500,0004% of excess over $50,000
43 Over $500,000 but not over$18,000 plus 5% of excess
44 $2,155,350over $500,000
45 Over $2,155,350 but not over$100,767.50 plus 9.65% of
46 $5,000,000excess over $2,155,350
47 Over $5,000,000 but not over$375,276.23 plus 10.30% of excess over
48 $25,000,000$5,000,000
49 Over $25,000,000$2,435,276.23 plus 10.90% of
50 excess over $25,000,000
51 (6) For taxable years beginning in two thousand thirty-one, the
52 following rates shall apply:
A. 11253 3
1 If the New York taxable income is:The tax is:
2 Not over $60,000$0
3 Over $60,000 but not over4% of excess over
4 $500,000$60,000
5 Over $500,000 but not over$17,600 plus 5% of excess
6 $2,155,350over $500,000
7 Over $2,155,350 but not over$100,367.50 plus 9.65% of
8 $5,000,000excess over $2,155,350
9 Over $5,000,000 but not over$374,876.23 plus 10.30% of
10 $25,000,000excess over $5,000,000
11 Over $25,000,000$2,434,876.23 plus 10.90% of
12 excess over $25,000,000
13 (7) For taxable years beginning in two thousand thirty-two, the
14 following rates shall apply:
15 If the New York taxable income is:The tax is:
16 Not over $70,000$0
17 Over $70,000 but not over4% of excess over
18 $500,000$70,000
19 Over $500,000 but not over$17,200 plus 5% of excess
20 $2,155,350over $500,000
21 Over $2,155,350 but not over$99,967.50 plus 9.65% of
22 $5,000,000excess over $2,155,350
23 Over $5,000,000 but not over$374,476.23 plus 10.30% of
24 $25,000,000excess over $5,000,000
25 Over $25,000,000$2,434,476.23 plus 10.90% of
26 excess over $25,000,000
27 (8) For taxable years beginning in two thousand thirty-three, the
28 following rates shall apply:
29 If the New York taxable income is:The tax is:
30 Not over $80,000$0
31 Over $80,000 but not over4% of excess over
32 $500,000$80,000
33 Over $500,000 but not over$16,800 plus 5% of excess
34 $2,155,350over $500,000
35 Over $2,155,350$99,567.50 plus 8.82% of
36 excess over $2,155,350
37 (9) For taxable years beginning in two thousand thirty-four, the
38 following rates shall apply:
39 If the New York taxable income is:The tax is:
40 Not over $90,000$0
41 Over $90,000 but not over4% of excess over
42 $500,000$90,000
43 Over $500,000 but not over$16,400 plus 5% of excess
44 $2,155,350over $500,000
45 Over $2,155,350$99,167.50 plus 8.82% of
46 excess over $2,155,350
47 (10) For taxable years beginning in two thousand thirty-five, the
48 following rates shall apply:
49 If the New York taxable income is:The tax is:
50 Not over $100,000$0
51 Over $100,000 but not over4% of excess over
52 $500,000$100,000
A. 11253 4
1 Over $500,000 but not over$16,000 plus 5% of excess
2 $2,155,350over $500,000
3 Over $2,155,350$98,767.50 plus 8.82% of
4 excess over $2,155,350
5 § 2. Subsection (b) of section 601 of the tax law is REPEALED and a
6 new subsection (b) is added to read as follows:
7 (b) Resident heads of households. There is hereby imposed for each
8 taxable year on the New York taxable income of every resident head of a
9 household a tax determined in accordance with the following tables:
10 (1) For taxable years beginning in two thousand twenty-six, the
11 following rates shall apply:
12 If the New York taxable income is:The tax is:
13 Not over $7,500$0
14 Over $7,500 but not over4% of excess over
15 $300,000$7,500
16 Over $300,000 but not over$11,700 plus 5% of excess
17 $1,616,450over $300,000
18 Over $1,616,450 but not over$77,522.50 plus 9.65% of
19 $5,000,000excess over $1,616,450
20 Over $5,000,000 but not over$404,035.08 plus 10.30% of
21 $25,000,000excess over $5,000,000
22 Over $25,000,000$2,464,035.08 plus 10.90% of
23 excess over $25,000,000
24 (2) For taxable years beginning in two thousand twenty-seven, the
25 following rates shall apply:
26 If the New York taxable income is:The tax is:
27 Not over $15,000$0
28 Over $15,000 but not over4% of excess over
29 $300,000$15,000
30 Over $300,000 but not over$11,400 plus 5% of excess
31 $1,616,450over $300,000
32 Over $1,616,450 but not over$77,222.50 plus 9.65% of
33 $5,000,000excess over $1,616,450
34 Over $5,000,000 but not over$403,735.08 plus 10.30% of
35 $25,000,000excess over $5,000,000
36 Over $25,000,000$2,463,735.08 plus 10.90% of
37 excess over $25,000,000
38 (3) For taxable years beginning in two thousand twenty-eight, the
39 following rates shall apply:
40 If the New York taxable income is:The tax is:
41 Not over $22,500$0
42 Over $22,500 but not over4% of excess over
43 $300,000$22,500
44 Over $300,000 but not over$11,100 plus 5% of excess
45 $1,616,450over $300,000
46 Over $1,616,450 but not over$76,922.50 plus 9.65% of
47 $5,000,000excess over $1,616,450
48 Over $5,000,000 but not over$403,435.08 plus 10.30% of
49 $25,000,000excess over $5,000,000
50 Over $25,000,000$2,463,435.08 plus 10.90% of
51 excess over $25,000,000
52 (4) For taxable years beginning in two thousand twenty-nine, the
53 following rates shall apply:
A. 11253 5
1 If the New York taxable income is:The tax is:
2 Not over $30,000$0
3 Over $30,000 but not over4% of excess over
4 $300,000$30,000
5 Over $300,000 but not over$10,800 plus 5% of excess
6 $1,616,450over $300,000
7 Over $1,616,450 but not over$76,622.50 plus 9.65% of
8 $5,000,000excess over $1,616,450
9 Over $5,000,000 but not over$403,135.08 plus 10.30% of
10 $25,000,000excess over $5,000,000
11 Over $25,000,000$2,463,135.08 plus 10.90% of
12 excess over $25,000,000
13 (5) For taxable years beginning in two thousand thirty, the following
14 rates shall apply:
15 If the New York taxable income is:The tax is:
16 Not over $37,500$0
17 Over $37,500 but not over4% of excess over
18 $300,000$37,500
19 Over $300,000 but not over$10,500 plus 5% of excess
20 $1,616,450over $300,000
21 Over $1,616,450 but not over$76,322.50 plus 9.65% of
22 $5,000,000excess over $1,616,450
23 Over $5,000,000 but not over$402,835.08 plus 10.30% of
24 $25,000,000excess over $5,000,000
25 Over $25,000,000$2,462,835.08 plus 10.90% of
26 excess over $25,000,000
27 (6) For taxable years beginning in two thousand thirty-one, the
28 following rates shall apply:
29 If the New York taxable income is:The tax is:
30 Not over $45,000$0
31 Over $45,000 but not over4% of excess over
32 $300,000$45,000
33 Over $300,000 but not over$10,200 plus 5% of excess
34 $1,616,450over $300,000
35 Over $1,616,450 but not over$76,022.50 plus 9.65% of
36 $5,000,000excess over $1,616,450
37 Over $5,000,000 but not over$402,535.08 plus 10.30% of
38 $25,000,000excess over $5,000,000
39 Over $25,000,000$2,462,535.08 plus 10.90% of
40 excess over $25,000,000
41 (7) For taxable years beginning in two thousand thirty-two, the
42 following rates shall apply:
43 If the New York taxable income is:The tax is:
44 Not over $52,500$0
45 Over $52,500 but not over4% of excess over
46 $300,000$52,500
47 Over $300,000 but not over$9,900 plus 5% of excess
48 $1,616,450over $300,000
49 Over $1,616,450 but not over$75,722.50 plus 9.65% of
50 $5,000,000excess over $1,616,450
51 Over $5,000,000 but not over$402,235.08 plus 10.30% of
52 $25,000,000excess over $5,000,000
53 Over $25,000,000$2,462,235.08 plus 10.90% of
A. 11253 6
1 excess over $25,000,000
2 (8) For taxable years beginning in two thousand thirty-three, the
3 following rates shall apply:
4 If the New York taxable income is:The tax is:
5 Not over $60,000$0
6 Over $60,000 but not over4% of excess over
7 $300,000$60,000
8 Over $300,000 but not over$9,600 plus 5% of excess
9 $1,616,450over $300,000
10 Over $1,616,450$75,422.50 plus 8.82% of
11 excess over $1,616,450
12 (9) For taxable years beginning in two thousand thirty-four, the
13 following rates shall apply:
14 If the New York taxable income is:The tax is:
15 Not over $67,500$0
16 Over $67,500 but not over4% of excess over
17 $300,000$67,500
18 Over $300,000 but not over$9,300 plus 5% of excess
19 $1,616,450over $300,000
20 Over $1,616,450$75,122.50 plus 8.82% of
21 excess over $1,616,450
22 (10) For taxable years beginning in two thousand thirty-five, the
23 following rates shall apply:
24 If the New York taxable income is:The tax is:
25 Not over $75,000$0
26 Over $75,000 but not over4% of excess over
27 $300,000$75,000
28 Over $300,000 but not over$9,000 plus 5% of excess
29 $1,616,450over $300,000
30 Over $1,616,450$74,822.50 plus 8.82% of
31 excess over $1,616,450
32 § 3. Subsection (c) of section 601 of the tax law is REPEALED and a
33 new subsection (c) is added to read as follows:
34 (c) Resident unmarried individuals, estates and trusts. There is here-
35 by imposed for each taxable year on the New York taxable income of every
36 resident individual who is not a married individual or a head of a
37 household, and on the New York taxable income of every estate and trust
38 a tax determined in accordance with the following tables:
39 (1) For taxable years beginning in two thousand twenty-six, the
40 following rates shall apply:
41 If the New York taxable income is:The tax is:
42 Not over $5,000$0
43 Over $5,000 but not over4% of excess over $5,000
44 $250,000
45 Over $250,000 but not over$9,800 plus 5% of excess
46 $1,077,550over $250,000
47 Over $1,077,550 but not over$51,177.50 plus 9.65% of excess
48 $5,000,000over $1,077,550
49 Over $5,000,000 but not over$429,693.93 plus 10.30% of
50 $25,000,000excess over $5,000,000
51 Over $25,000,000$2,489,693.92 plus 10.90% of
52 excess over $25,000,000
A. 11253 7
1 (2) For taxable years beginning in two thousand twenty-seven, the
2 following rates shall apply:
3 If the New York taxable income is:The tax is:
4 Not over $10,000$0
5 Over $10,000 but not over4% of excess over
6 $250,000$10,000
7 Over $250,000 but not over$9,600 plus 5% of excess
8 $1,077,550over $250,000
9 Over $1,077,550 but not over$50,977.50 plus 9.65% of excess
10 $5,000,000over $1,077,550
11 Over $5,000,000 but not over$429,493.93 plus 10.30% of
12 $25,000,000excess over $5,000,000
13 Over $25,000,000$2,489,493.92 plus 10.90% of
14 excess over $25,000,000
15 (3) For taxable years beginning in two thousand twenty-eight, the
16 following rates shall apply:
17 If the New York taxable income is:The tax is:
18 Not over $15,000$0
19 Over $15,000 but not over4% of excess over
20 $250,000$15,000
21 Over $250,000 but not over$9,400 plus 5% of excess
22 $1,077,550over $250,000
23 Over $1,077,550 but not over$50,777.50 plus 9.65% of excess
24 $5,000,000over $1,077,550
25 Over $5,000,000 but not over$429,293.93 plus 10.30% of
26 $25,000,000excess over $5,000,000
27 Over $25,000,000$2,489,293.92 plus 10.90% of
28 excess over $25,000,000
29 (4) For taxable years beginning in two thousand twenty-nine, the
30 following rates shall apply:
31 If the New York taxable income is:The tax is:
32 Not over $20,000$0
33 Over $20,000 but not over4% of excess over
34 $250,000$20,000
35 Over $250,000 but not over$9,200 plus 5% of excess
36 $1,077,550over $250,000
37 Over $1,077,550 but not over$50,577.50 plus 9.65% of excess
38 $5,000,000over $1,077,550
39 Over $5,000,000 but not over$429,093.93 plus 10.30% of
40 $25,000,000excess over $5,000,000
41 Over $25,000,000$2,489,093.92 plus 10.90% of
42 excess over $25,000,000
43 (5) For taxable years beginning in two thousand thirty, the following
44 rates shall apply:
45 If the New York taxable income is:The tax is:
46 Not over $25,000$0
47 Over $25,000 but not over4% of excess over
48 $250,000$25,000
49 Over $250,000 but not over$9,000 plus 5% of excess
50 $1,077,550over $250,000
51 Over $1,077,550 but not over$50,377.50 plus 9.65% of excess
52 $5,000,000over $1,077,550
A. 11253 8
1 Over $5,000,000 but not over$428,893.93 plus 10.30% of
2 $25,000,000excess over $5,000,000
3 Over $25,000,000$2,488,893.92 plus 10.90% of
4 excess over $25,000,000
5 (6) For taxable years beginning in two thousand thirty-one, the
6 following rates shall apply:
7 If the New York taxable income is: The tax is:
8 Not over $30,000$0
9 Over $30,000 but not over4% of excess over
10 $250,000$30,000
11 Over $250,000 but not over$8,800 plus 5% of excess
12 $1,077,550over $250,000
13 Over $1,077,550 but not over$50,177.50 plus 9.65% of excess
14 $5,000,000over $1,077,550
15 Over $5,000,000 but not over$428,693.93 plus 10.30% of
16 $25,000,000excess over $5,000,000
17 Over $25,000,000$2,488,693.92 plus 10.90% of
18 excess over $25,000,000
19 (7) For taxable years beginning in two thousand thirty-two, the
20 following rates shall apply:
21 If the New York taxable income is:The tax is:
22 Not over $35,000$0
23 Over $35,000 but not over4% of excess over
24 $250,000$35,000
25 Over $250,000 but not over$8,600 plus 5% of excess
26 $1,077,550over $250,000
27 Over $1,077,550 but not over$49,977.50 plus 9.65% of excess
28 $5,000,000over $1,077,550
29 Over $5,000,000 but not over$428,493.93 plus 10.30% of
30 $25,000,000excess over $5,000,000
31 Over $25,000,000$2,488,493.92 plus 10.90% of
32 excess over $25,000,000
33 (8) For taxable years beginning in two thousand thirty-three, the
34 following rates shall apply:
35 If the New York taxable income is:The tax is:
36 Not over $40,000$0
37 Over $40,000 but not over4% of excess over
38 $250,000$40,000
39 Over $250,000 but not over$8,400 plus 5% of excess
40 $1,077,550over $250,000
41 Over $1,077,550$49,777.50 plus 8.82% of excess
42 over $1,077,550
43 (9) For taxable years beginning in two thousand thirty-four, the
44 following rates shall apply:
45 If the New York taxable income is:The tax is:
46 Not over $45,000$0
47 Over $45,000 but not over4% of excess over
48 $250,000$45,000
49 Over $250,000 but not over$8,200 plus 5% of excess
50 $1,077,550over $250,000
51 Over $1,077,550$49,577.50 plus 8.82% of excess
52 over $1,077,550
A. 11253 9
1 (10) For taxable years beginning in two thousand thirty-five, the
2 following rates shall apply:
3 If the New York taxable income is:The tax is:
4 Not over $50,000$0
5 Over $50,000 but not over4% of excess over
6 $250,000$50,000
7 Over $250,000 but not over$8,000 plus 5% of excess
8 $1,077,550over $250,000
9 Over $1,077,550$49,377.50 plus 8.82% of excess
10 over $1,077,550
11 § 4. Subsection (d) of section 601 of the tax law is REPEALED and a
12 new subsection (d) is added to read as follows:
13 (d) Resident married individuals filing separate returns. There is
14 hereby imposed for each taxable year on the New York taxable income of
15 every married individual who is a resident and who does not make a
16 single return jointly with their spouse under subsection (b) of section
17 six hundred fifty-one of this article a tax determined in accordance
18 with the following tables:
19 (1) For taxable years beginning in two thousand twenty-six, the
20 following rates shall apply:
21 If the New York taxable income is:The tax is:
22 Not over $5,000$0
23 Over $5,000 but not over4% of excess over
24 $250,000$5,000
25 Over $250,000 but not over$9,800 plus 5% of excess
26 $1,077,550over $250,000
27 Over $1,077,550 but not over$51,177.50 plus 9.65% of excess
28 $5,000,000over $1,077,550
29 Over $5,000,000 but not over$429,693.93 plus 10.30% of
30 $25,000,000excess over $5,000,000
31 Over $25,000,000$2,489,693.92 plus 10.90% of
32 excess over $25,000,000
33 (2) For taxable years beginning in two thousand twenty-seven, the
34 following rates shall apply:
35 If the New York taxable income is:The tax is:
36 Not over $10,000$0
37 Over $10,000 but not over4% of excess over
38 $250,000$10,000
39 Over $250,000 but not over$9,600 plus 5% of excess
40 $1,077,550over $250,000
41 Over $1,077,550 but not over$50,977.50 plus 9.65% of excess
42 $5,000,000over $1,077,550
43 Over $5,000,000 but not over$429,493.93 plus 10.30% of
44 $25,000,000excess over $5,000,000
45 Over $25,000,000$2,489,493.92 plus 10.90% of
46 excess over $25,000,000
47 (3) For taxable years beginning in two thousand twenty-eight, the
48 following rates shall apply:
49 If the New York taxable income is:The tax is:
50 Not over $15,000$0
51 Over $15,000 but not over4% of excess over
52 $250,000$15,000
A. 11253 10
1 Over $250,000 but not over$9,400 plus 5% of excess
2 $1,077,550over $250,000
3 Over $1,077,550 but not over$50,777.50 plus 9.65% of excess
4 $5,000,000over $1,077,550
5 Over $5,000,000 but not over$429,293.93 plus 10.30% of
6 $25,000,000excess over $5,000,000
7 Over $25,000,000$2,489,293.92 plus 10.90% of
8 excess over $25,000,000
9 (4) For taxable years beginning in two thousand twenty-nine, the
10 following rates shall apply:
11 If the New York taxable income is:The tax is:
12 Not over $20,000$0
13 Over $20,000 but not over4% of excess over
14 $250,000$20,000
15 Over $250,000 but not over$9,200 plus 5% of excess
16 $1,077,550over $250,000
17 Over $1,077,550 but not over$50,577.50 plus 9.65% of excess
18 $5,000,000over $1,077,550
19 Over $5,000,000 but not over$429,093.93 plus 10.30% of
20 $25,000,000excess over $5,000,000
21 Over $25,000,000$2,489,093.92 plus 10.90% of
22 excess over $25,000,000
23 (5) For taxable years beginning in two thousand thirty, the following
24 rates shall apply:
25 If the New York taxable income is:The tax is:
26 Not over $25,000$0
27 Over $25,000 but not over4% of excess over
28 $250,000$25,000
29 Over $250,000 but not over$9,000 plus 5% of excess
30 $1,077,550over $250,000
31 Over $1,077,550 but not over$50,377.50 plus 9.65% of excess
32 $5,000,000over $1,077,550
33 Over $5,000,000 but not over$428,893.93 plus 10.30% of
34 $25,000,000excess over $5,000,000
35 Over $25,000,000$2,488,893.92 plus 10.90% of
36 excess over $25,000,000
37 (6) For taxable years beginning in two thousand thirty-one, the
38 following rates shall apply:
39 If the New York taxable income is:The tax is:
40 Not over $30,000$0
41 Over $30,000 but not over4% of excess over
42 $250,000$30,000
43 Over $250,000 but not over$8,800 plus 5% of excess
44 $1,077,550over $250,000
45 Over $1,077,550 but not over$50,177.50 plus 9.65% of excess
46 $5,000,000over $1,077,550
47 Over $5,000,000 but not over$428,693.93 plus 10.30% of
48 $25,000,000excess over $5,000,000
49 Over $25,000,000$2,488,693.92 plus 10.90% of
50 excess over $25,000,000
51 (7) For taxable years beginning in two thousand thirty-two, the
52 following rates shall apply:
A. 11253 11
1 If the New York taxable income is:The tax is:
2 Not over $35,000$0
3 Over $35,000 but not over4% of excess over
4 $250,000$35,000
5 Over $250,000 but not over$8,600 plus 5% of excess
6 $1,077,550over $250,000
7 Over $1,077,550 but not over$49,977.50 plus 9.65% of excess
8 $5,000,000over $1,077,550
9 Over $5,000,000 but not over$428,493.93 plus 10.30% of
10 $25,000,000excess over $5,000,000
11 Over $25,000,000$2,488,493.92 plus 10.90% of
12 excess over $25,000,000
13 (8) For taxable years beginning in two thousand thirty-three, the
14 following rates shall apply:
15 If the New York taxable income is:The tax is:
16 Not over $40,000$0
17 Over $40,000 but not over4% of excess over
18 $250,000$40,000
19 Over $250,000 but not over$8,400 plus 5% of excess
20 $1,077,550over $250,000
21 Over $1,077,550$49,777.50 plus 8.82% of excess
22 over $1,077,550
23 (9) For taxable years beginning in two thousand thirty-four, the follow-
24 ing rates shall apply:
25 If the New York taxable income is:The tax is:
26 Not over $45,000$0
27 Over $45,000 but not over4% of excess over
28 $250,000$45,000
29 Over $250,000 but not over$8,200 plus 5% of excess
30 $1,077,550over $250,000
31 Over $1,077,550$49,577.50 plus 8.82% of excess
32 over $1,077,550
33 (10) For taxable years beginning in two thousand thirty-five, the
34 following rates shall apply:
35 If the New York taxable income is:The tax is:
36 Not over $50,000$0
37 Over $50,000 but not over4% of excess over
38 $250,000$50,000
39 Over $250,000 but not over$8,000 plus 5% of excess
40 $1,077,550over $250,000
41 Over $1,077,550$49,377.50 plus 8.82% of excess
42 over $1,077,550
43 § 5. The opening paragraph of subsection (d-4) of section 601 of the
44 tax law is REPEALED.
45 § 6. Subsections (d-5), (d-6) and (d-7) of section 601 of the tax law
46 are REPEALED.
47 § 7. This act shall take effect immediately.
