STATE OF NEW YORK
________________________________________________________________________
8720
IN SENATE
January 7, 2026
___________
Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
printed to be committed to the Committee on Budget and Revenue
AN ACT to amend the tax law, in relation to making certain higher
personal income tax rates permanent; 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. Clause (viii) of subparagraph (B) of paragraph 1 of subdi-
2 vision (a) of section 601 of the tax law, as added by section 2 of part
3 B of chapter 59 of the laws of 2025, is amended to read as follows:
4 (viii) For taxable years beginning after two thousand twenty-six [and
5 before two thousand thirty-three] the following rates shall apply:
6 If the New York taxable income is: The tax is:
7 Not over $17,150 3.80% of the New York taxable
8 income
9 Over $17,150 but not over $23,600 $652 plus 4.30% of excess over
10 $17,150
11 Over $23,600 but not over $27,900 $929 plus 5.05% of excess over
12 $23,600
13 Over $27,900 but not over $161,550 $1,146 plus 5.30% of excess over
14 $27,900
15 Over $161,550 but not over $323,200 $8,229 plus 5.80% of excess
16 over $161,550
17 Over $323,200 but not over $17,605 plus 6.85% of excess
18 $2,155,350 over $323,200
19 Over $2,155,350 but not over $143,107 plus 9.65% of excess
20 $5,000,000 over $2,155,350
21 Over $5,000,000 but not over $417,616 plus 10.30% of excess
22 $25,000,000 over $5,000,000
23 Over $25,000,000 $2,477,616 plus 10.90% of excess
24 over $25,000,000
25 § 2. Clause (ix) of subparagraph (B) of paragraph 1 of subdivision (a)
26 of section 601 of the tax law is REPEALED.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14192-01-5
S. 8720 2
1 § 3. Clause (viii) of subparagraph (B) of paragraph 1 of subdivision
2 (b) of section 601 of the tax law, as added by section 4 of part B of
3 chapter 59 of the laws of 2025, is amended to read as follows:
4 (viii) For taxable years beginning after two thousand twenty-six [and
5 before two thousand thirty-three] the following rates shall apply:
6 If the New York taxable income is: The tax is:
7 Not over $12,800 3.80% of the New York taxable
8 income
9 Over $12,800 but not over $486 plus 4.30% of excess over
10 $17,650 $12,800
11 Over $17,650 but not over $695 plus 5.05% of excess over
12 $20,900 $17,650
13 Over $20,900 but not over $859 plus 5.30% of excess over
14 $107,650 $20,900
15 Over $107,650 but not over $5,457 plus 5.80% of excess
16 $269,300 over $107,650
17 Over $269,300 but not over $14,833 plus 6.85% of excess
18 $1,616,450 over $269,300
19 Over $1,616,450 but not over $107,113 plus 9.65% of excess
20 $5,000,000 over $1,616,450
21 Over $5,000,000 but not over $433,626 plus 10.30% of excess
22 $25,000,000 over $5,000,000
23 Over $25,000,000 $2,493,626 plus 10.90% of excess
24 over $25,000,000
25 § 4. Clause (ix) of subparagraph (B) of paragraph 1 of subdivision (b)
26 of section 601 of the tax law is REPEALED.
27 § 5. Clause (viii) of subparagraph (B) of paragraph 1 of subdivision
28 (c) of section 601 of the tax law, as added by section 6 of part B of
29 chapter 59 of the laws of 2025, is amended to read as follows:
30 (viii) For taxable years beginning after two thousand twenty-six [and
31 before two thousand thirty-three] the following rates shall apply:
32 If the New York taxable income is: The tax is:
33 Not over $8,500 3.80% of the New York taxable income
34 Over $8,500 but not over $11,700 $323 plus 4.30% of excess over
35 $8,500
36 Over $11,700 but not over $13,900 $461 plus 5.05% of excess over
37 $11,700
38 Over $13,900 but not over $80,650 $572 plus 5.30% of excess over
39 $13,900
40 Over $80,650 but not over $215,400 $4,110 plus 5.80% of excess
41 over $80,650
42 Over $215,400 but not over $11,926 plus 6.85% of excess
43 $1,077,550 over $215,400
44 Over $1,077,550 but not over $70,983 plus 9.65% of excess
45 $5,000,000 over $1,077,550
46 Over $5,000,000 but not over $449,499 plus 10.30% of excess
47 $25,000,000 over $5,000,000
48 Over $25,000,000 $2,509,499 plus 10.90% of excess
49 over $25,000,000
50 § 6. Clause (ix) of subparagraph (B) of paragraph 1 of subdivision (c)
51 of section 601 of the tax law is REPEALED.
52 § 7. This act shall take effect immediately.
