STATE OF NEW YORK
________________________________________________________________________
9110
IN SENATE
February 3, 2026
___________
Introduced by Sen. RHOADS -- 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 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 Subsection (a) of section 601 of the tax law is REPEALED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
S. 9110 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:
S. 9110 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
S. 9110 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:
S. 9110 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
S. 9110 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
S. 9110 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
S. 9110 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
S. 9110 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
S. 9110 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:
S. 9110 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.
