A09179 Summary:
BILL NO | A09179 |
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SAME AS | No Same As |
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SPONSOR | Farrell |
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COSPNSR | Heastie, Morelle, Hooper, Aubry, Perry, Magnarelli, Benedetto, Hevesi |
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MLTSPNSR | Abbate, Abinanti, Arroyo, Barron, Bichotte, Blake, Brennan, Brindisi, Bronson, Cahill, Ceretto, Colton, Cook, Crespo, Cymbrowitz, Davila, DenDekker, Dilan, Dinowitz, Fahy, Glick, Gottfried, Harris, Hunter, Hyndman, Jaffee, Jean-Pierre, Joyner, Kavanagh, Kim, Lentol, Lifton, Linares, Lupardo, Markey, Miller, Mosley, Moya, Nolan, O'Donnell, Ortiz, Peoples-Stokes, Pichardo, Pretlow, Ramos, Richardson, Rivera, Robinson, Rodriguez, Rosenthal, Rozic, Russell, Ryan, Santabarbara, Schimel, Seawright, Sepulveda, Simon, Simotas, Skartados, Skoufis, Solages, Steck, Stirpe, Thiele, Titus, Walker, Weinstein, Wright |
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Amd §§606, 601, 601-a & 614, rpld §601 sub§ (d-2), Tax L | |
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Relates to the earned income tax credit; increases the earned income tax credit for years 2018 and 2019 and thereafter (Part A); relates to income tax rates (Part B). |
A09179 Actions:
BILL NO | A09179 | |||||||||||||||||||||||||||||||||||||||||||||||||
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02/02/2016 | referred to ways and means |
A09179 Committee Votes:
Go to topA09179 Floor Votes:
There are no votes for this bill in this legislative session.
Go to topA09179 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 9179 IN ASSEMBLY February 2, 2016 ___________ Introduced by M. of A. FARRELL, HEASTIE, MORELLE, HOOPER, AUBRY, PERRY, MAGNARELLI, BENEDETTO -- Multi-Sponsored by -- M. of A. ABBATE, ABINANTI, ARROYO, BARRON, BICHOTTE, BLAKE, BRAUNSTEIN, BRENNAN, BRIN- DISI, BRONSON, CAHILL, CERETTO, CLARK, COLTON, COOK, CRESPO, CYMBROW- ITZ, DAVILA, DenDEKKER, DILAN, DINOWITZ, FAHY, GLICK, GOTTFRIED, HARRIS, HUNTER, HYNDMAN, JAFFEE, JEAN-PIERRE, JOYNER, KAVANAGH, KIM, LAVINE, LENTOL, LIFTON, LINARES, LUPARDO, MARKEY, MILLER, MOSLEY, MOYA, NOLAN, O'DONNELL, ORTIZ, PEOPLES-STOKES, PICHARDO, PRETLOW, RAMOS, RICHARDSON, RIVERA, ROBINSON, RODRIGUEZ, ROSENTHAL, ROZIC, RUSSELL, RYAN, SANTABARBARA, SCHIMEL, SEAWRIGHT, SEPULVEDA, SIMON, SIMOTAS, SKARTADOS, SKOUFIS, SOLAGES, STECK, STIRPE, THIELE, TITUS, WALKER, WEINSTEIN, WRIGHT -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to the earned income credit (Part A); and to amend the tax law, in relation to income tax rates; and to repeal certain provisions of such law relating thereto (Part B) The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. This act enacts into law major components of legislation 2 relating to income tax. Each component is wholly contained within a Part 3 identified as Parts A through B. The effective date for each particular 4 provision contained within such Part is set forth in the last section of 5 such Part. Any provision in any section contained within a Part, includ- 6 ing the effective date of the Part, which makes a reference to a section 7 "of this act", when used in connection with that particular component, 8 shall be deemed to mean and refer to the corresponding section of the 9 Part in which it is found. Section three of this act sets forth the 10 general effective date of this act. 11 PART A 12 Section 1. Paragraph 1 of subsection (d) of section 606 of the tax 13 law, as amended by section 1 of part Q of chapter 63 of the laws of 14 2000, is amended to read as follows: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13914-01-6A. 9179 2 1 (1) General. A taxpayer shall be allowed a credit as provided herein 2 equal to (i) the applicable percentage of the earned income credit 3 allowed under section thirty-two of the internal revenue code for the 4 same taxable year, (ii) reduced by the credit permitted under subsection 5 (b) of this section. 6 The applicable percentage shall be (i) seven and one-half percent for 7 taxable years beginning in nineteen hundred ninety-four, (ii) ten 8 percent for taxable years beginning in nineteen hundred ninety-five, 9 (iii) twenty percent for taxable years beginning after nineteen hundred 10 ninety-five and before two thousand, (iv) twenty-two and one-half 11 percent for taxable years beginning in two thousand, (v) twenty-five 12 percent for taxable years beginning in two thousand one, (vi) twenty- 13 seven and one-half percent for taxable years beginning in two thousand 14 two, and (vii) thirty percent for taxable years beginning in two thou- 15 sand three, and (viii) thirty-two and one-half percent for the taxable 16 year beginning in two thousand eighteen, and (ix) thirty-five percent 17 for taxable years beginning in two thousand nineteen and thereafter. 18 Provided, however, that if the reversion event, as defined in this para- 19 graph, occurs, the applicable percentage shall be twenty percent for 20 taxable years ending on or after the date on which the reversion event 21 occurred. The reversion event shall be deemed to have occurred on the 22 date on which federal action, including but not limited to, administra- 23 tive, statutory or regulatory changes, materially reduces or eliminates 24 New York state's allocation of the federal temporary assistance for 25 needy families block grant, or materially reduces the ability of the 26 state to spend federal temporary assistance for needy families block 27 grant funds for the earned income credit or to apply state general fund 28 spending on the earned income credit toward the temporary assistance for 29 needy families block grant maintenance of effort requirement, and the 30 commissioner of the office of temporary and disability assistance shall 31 certify the date of such event to the commissioner of taxation and 32 finance, the director of the division of the budget, the speaker of the 33 assembly and the temporary president of the senate. 34 § 2. This act shall take effect immediately and shall apply to taxable 35 years beginning on or after 2018. 36 PART B 37 Section 1. Paragraph 1 of subsection (a) of section 601 of the tax 38 law, as amended by section 1 of part FF of chapter 59 of the laws of 39 2013, is amended to read as follows: 40 (1) (A) For taxable years beginning after two thousand seventeen, the 41 following brackets and dollar amounts shall apply, as adjusted by the 42 cost of living adjustment prescribed in section six hundred one-a of 43 this part for taxable years two thousand thirteen and thereafter: 44 If the New York taxable income is: The tax is: 45 Not over $16,000 4% of taxable income 46 Over $16,000 but not over $22,000 $640 plus 4.5% of excess over 47 $16,000 48 Over $22,000 but not over $26,000 $910 plus 5.25% of excess over 49 $22,000 50 Over $26,000 but not over $40,000 $1,120 plus 5.90% of excess over 51 $26,000 52 Over $40,000 but not over $150,000 $1,946 plus 6.25% of excess overA. 9179 3 1 $40,000 2 Over $150,000 but not over $300,000 $8,821 plus 6.65% of excess over 3 $150,000 4 Over $300,000 but not over $1,000,000 $18,796 plus 6.85% of excess over 5 $300,000 6 Over $1,000,000 but not over $66,746 plus 8.82% of excess over 7 $5,000,000 $1,000,000 8 Over $5,000,000 but not over $419,546 plus 9.32% of excess over 9 $10,000,000 $5,000,000 10 Over $10,000,000 $885,546 plus 9.82% of excess over 11 $10,000,000 12 (B) For taxable years beginning after two thousand eleven and before two 13 thousand eighteen: 14 If the New York taxable income is: The tax is: 15 Not over $16,000 4% of taxable income 16 Over $16,000 but not over $22,000 $640 plus 4.5% of excess over 17 $16,000 18 Over $22,000 but not over $26,000 $910 plus 5.25% of excess over 19 $22,000 20 Over $26,000 but not over $40,000 $1,120 plus 5.90% of excess over 21 $26,000 22 Over $40,000 but not over $150,000 $1,946 plus 6.45% of excess over 23 $40,000 24 Over $150,000 but not over $300,000 $9,041 plus 6.65% of excess over 25 $150,000 26 Over $300,000 but not over $2,000,000 $19,016 plus 6.85% of excess over 27 $300,000 28 Over $2,000,000 $135,466 plus 8.82% of excess over 29 $2,000,000 30 [(B) For taxable years beginning after two thousand seventeen, the31following brackets and dollar amounts shall apply, as adjusted by the32cost of living adjustment prescribed in section six hundred one-a of33this part for tax years two thousand thirteen through two thousand34seventeen:35If the New York taxable income is: The tax is:36Not over $16,000 4% of taxable income37Over $16,000 but not over $22,000 $640 plus 4.5% of excess over38$16,00039Over $22,000 but not over $26,000 $910 plus 5.25% of excess over40$22,00041Over $26,000 but not over $40,000 $1,120 plus 5.90% of excess over42$26,00043Over $40,000 $1,946 plus 6.85% of excess over44$40,000] 45 § 2. Paragraph 1 of subsection (b) of section 601 of the tax law, as 46 amended by section 2 of part FF of chapter 59 of the laws of 2013, is 47 amended to read as follows: 48 (1) (A) For taxable years beginning after two thousand seventeen, the 49 following brackets and dollar amounts shall apply, as adjusted by the 50 cost of living adjustment prescribed in section six hundred one-a of 51 this part for taxable years two thousand thirteen and thereafter:A. 9179 4 1 If the New York taxable income is: The tax is: 2 Not over $12,000 4% of taxable income 3 Over $12,000 but not over $16,500 $480 plus 4.5% of excess over 4 $12,000 5 Over $16,500 but not over $19,500 $683 plus 5.25% of excess over 6 $16,500 7 Over $19,500 but not over $30,000 $840 plus 5.90% of excess over 8 $19,500 9 Over $30,000 but not over $100,000 $1,460 plus 6.25% of excess over 10 $30,000 11 Over $100,000 but not over $250,000 $5,835 plus 6.65% of excess over 12 $100,000 13 Over $250,000 but not over $1,000,000 $15,810 plus 6.85% of excess over 14 $250,000 15 Over $1,000,000 but not over $67,185 plus 8.82% of excess over 16 $5,000,000 $1,000,000 17 Over $5,000,000 but not over $419,985 plus 9.32% of excess over 18 $10,000,000 $5,000,000 19 Over $10,000,000 $885,985 plus 9.82% of excess over 20 $10,000,000 21 (B) For taxable years beginning after two thousand eleven and before two 22 thousand eighteen: 23 If the New York taxable income is: The tax is: 24 Not over $12,000 4% of taxable income 25 Over $12,000 but not over $16,500 $480 plus 4.5% of excess over 26 $12,000 27 Over $16,500 but not over $19,500 $683 plus 5.25% of excess over 28 $16,500 29 Over $19,500 but not over $30,000 $840 plus 5.90% of excess over 30 $19,500 31 Over $30,000 but not over $100,000 $1,460 plus 6.45% of excess over 32 $30,000 33 Over $100,000 but not over $250,000 $5,975 plus 6.65% of excess over 34 $100,000 35 Over $250,000 but not over $1,500,000 $15,950 plus 6.85% of excess over 36 $250,000 37 Over $1,500,000 $101,575 plus 8.82% of excess over 38 $1,500,000 39 [(B) For taxable years beginning after two thousand seventeen, the40following brackets and dollars amounts shall apply, as adjusted by the41cost of living adjustment prescribed in section six hundred one-a of42this part for tax years two thousand thirteen through two thousand43seventeen:44If the New York taxable income is: The tax is:45Not over $12,000 4% of taxable income46Over $12,000 but not over $16,500 $480 plus 4.5% of excess over47$12,00048Over $16,500 but not over $19,500 $683 plus 5.25% of excess over49$16,50050Over $19,500 but not over $30,000 $840 plus 5.90% of excess overA. 9179 5 1$19,5002Over $30,000 $1,460 plus 6.85% of excess over3$30,000] 4 § 3. Paragraph 1 of subsection (c) of section 601 of the tax law, as 5 amended by section 3 of part FF of chapter 59 of the laws of 2013, is 6 amended to read as follows: 7 (1) (A) For taxable years beginning after two thousand seventeen, the 8 following brackets and dollar amounts shall apply, as adjusted by the 9 cost of living adjustment prescribed in section six hundred one-a of 10 this part for taxable years two thousand thirteen and thereafter: 11 If the New York taxable income is: The tax is: 12 Not over $8,000 4% of taxable income 13 Over $8,000 but not over $11,000 $320 plus 4.5% of excess over 14 $8,000 15 Over $11,000 but not over $13,000 $455 plus 5.25% of excess over 16 $11,000 17 Over $13,000 but not over $20,000 $560 plus 5.90% of excess over 18 $13,000 19 Over $20,000 but not over $75,000 $973 plus 6.25% of excess over 20 $20,000 21 Over $75,000 but not over $200,000 $4,411 plus 6.65% of excess over 22 $75,000 23 Over $200,000 but not over $1,000,000 $12,723 plus 6.85% of excess over 24 $200,000 25 Over $1,000,000 but not over $67,523 plus 8.82% of excess over 26 $5,000,000 $1,000,000 27 Over $5,000,000 but not over $420,323 plus 9.32% of excess over 28 $10,000,000 $5,000,000 29 Over $10,000,000 $886,323 plus 9.82% of excess over 30 $10,000,000 31 (B) For taxable years beginning after two thousand eleven and before 32 two thousand eighteen: 33 If the New York taxable income is: The tax is: 34 Not over $8,000 4% of taxable income 35 Over $8,000 but not over $11,000 $320 plus 4.5% of excess over 36 $8,000 37 Over $11,000 but not over $13,000 $455 plus 5.25% of excess over 38 $11,000 39 Over $13,000 but not over $20,000 $560 plus 5.90% of excess over 40 $13,000 41 Over $20,000 but not over $75,000 $973 plus 6.45% of excess over 42 $20,000 43 Over $75,000 but not over $200,000 $4,521 plus 6.65% of excess over 44 $75,000 45 Over $200,000 but not over $1,000,000 $12,833 plus 6.85% of excess over 46 $200,000 47 Over $1,000,000 $67,633 plus 8.82% of excess over 48 $1,000,000 49 [(B) For taxable years beginning after two thousand seventeen, the50following brackets and dollars amounts shall apply, as adjusted by the51cost of living adjustment prescribed in section six hundred one-a ofA. 9179 6 1this part for tax years two thousand thirteen through two thousand2seventeen:3If the New York taxable income is: The tax is:4Not over $8,000 4% of taxable income5Over $8,000 but not over $11,000 $320 plus 4.5% of excess over6$8,0007Over $11,000 but not over $13,000 $455 plus 5.25% of excess over8$11,0009Over $13,000 but not over $20,000 $560 plus 5.90% of excess over10$13,00011Over $20,000 $973 plus 6.85% of excess over12$20,000] 13 § 4. Subsection (a) of section 601-a of the tax law, as amended by 14 section 10 of part FF of chapter 59 of the laws of 2013, is amended to 15 read as follows: 16 (a) For tax year two thousand thirteen, the commissioner, not later 17 than September first, two thousand twelve, shall multiply the amounts 18 specified in subsection (b) of this section for tax year two thousand 19 twelve by one plus the cost of living adjustment described in subsection 20 (c) of this section. For tax year two thousand fourteen, the commission- 21 er, not later than September first, two thousand thirteen, shall multi- 22 ply the amounts specified in subsection (b) of this section for tax year 23 two thousand thirteen by one plus the cost of living adjustment. For 24 each succeeding tax year after tax year two thousand fourteen and 25 [before tax year two thousand eighteen] thereafter, the commissioner, 26 not later than September first of such tax year, shall multiply the 27 amounts specified in subsection (b) of this section for such tax year by 28 one plus the cost of living adjustment described in subsection (c) of 29 this section for such tax year. 30 § 5. Subsection (d-2) of section 601 of the tax law is REPEALED and a 31 new section (d-2) is added to read as follows: 32 (d-2) Alternative tax table benefit recapture. Notwithstanding the 33 provisions of subsections (d) and (d-1) of this section, for taxable 34 years beginning after two thousand seventeen and thereafter, there is 35 hereby imposed a supplemental tax in addition to the tax imposed under 36 subsections (a), (b) and (c) of this section for the purpose of recap- 37 turing the benefit of the tax tables contained in such subsections. 38 During these taxable years, any reference in this chapter to subsection 39 (d) of this section shall be read as a reference to this subsection. 40 (1) For resident married individuals filing joint returns and resident 41 surviving spouses, the supplemental tax shall be an amount equal to the 42 sum of the tax table benefits described in subparagraphs (A), (B), (C), 43 (D), (E) and (F) of this paragraph multiplied by their respective frac- 44 tions in such subparagraphs. 45 (A) The tax table benefit is the difference between (i) the amount of 46 taxable income set forth in the tax table in paragraph one of subsection 47 (a) of this section not subject to the 6.25 percent rate of tax for the 48 taxable year multiplied by such rate and (ii) the dollar denominated tax 49 for such amount of taxable income set forth in the tax table applicable 50 to the taxable year in paragraph one of subsection (a) of this section. 51 The fraction for this subparagraph is computed as follows: the numerator 52 is the lesser of fifty thousand dollars or the excess of New York 53 adjusted gross income for the taxable year over one hundred thousand 54 dollars and the denominator is fifty thousand dollars.A. 9179 7 1 (B) 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 6.65 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 tax table benefit in subparagraph (A) of this paragraph. The 8 fraction for this subparagraph is computed as follows: the numerator is 9 the lesser of fifty thousand dollars or the excess of New York adjusted 10 gross income for the taxable year over one hundred fifty thousand 11 dollars and the denominator is fifty thousand dollars. Provided, howev- 12 er, this subparagraph shall not apply to taxpayers who are not subject 13 to the 6.65 percent tax rate. 14 (C) 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 (a) of this section not subject to the 6.85 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 (a) of this section 20 less the sum of the tax table benefit in subparagraphs (A) and (B) of 21 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 three 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 6.85 percent tax rate. 27 (D) 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 (a) of this section not subject to the 8.82 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 (a) of this section 33 less the sum of the tax table benefits in subparagraphs (A), (B) and (C) 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 one 37 million dollars and the denominator is fifty thousand dollars. 38 (E) The tax table benefit is the difference between (i) the amount of 39 taxable income set forth in the tax table in paragraph one of subsection 40 (a) of this section not subject to the 9.32 percent rate of tax for the 41 taxable year multiplied by such rate and (ii) the dollar denominated tax 42 for such amount of taxable income set forth in the tax table applicable 43 to the taxable year in paragraph one of subsection (a) of this section 44 less the sum of the tax table benefits in subparagraphs (A), (B), (C) 45 and (D) of this paragraph. The fraction for this subparagraph is 46 computed as follows: the numerator is the lesser of fifty thousand 47 dollars or the excess of New York adjusted gross income for the taxable 48 year over five million dollars and the denominator is fifty thousand 49 dollars. 50 (F) The tax table benefit is the difference between (i) the amount of 51 taxable income set forth in the tax table in paragraph one of subsection 52 (a) of this section not subject to the 9.82 percent rate of tax for the 53 taxable year multiplied by such rate and (ii) the dollar denominated tax 54 for such amount of taxable income set forth in the tax table applicable 55 to the taxable year in paragraph one of subsection (a) of this section 56 less the sum of the tax table benefits in subparagraphs (A), (B), (C),A. 9179 8 1 (D) and (E) of this paragraph. The fraction for this subparagraph is 2 computed as follows: the numerator is the lesser of fifty thousand 3 dollars or the excess of New York adjusted gross income for the taxable 4 year over ten million dollars and the denominator is fifty thousand 5 dollars. 6 (G) Provided, however, the total tax prior to the application of any 7 tax credits shall not exceed the highest rate of tax set forth in the 8 tax tables in subsection (a) of this section multiplied by the taxpay- 9 er's taxable income. 10 (2) For resident heads of households, the supplemental tax shall be an 11 amount equal to the sum of the tax table benefits described in subpara- 12 graphs (A), (B), (C), (D) and (E) of this paragraph multiplied by their 13 respective fractions in such subparagraphs. 14 (A) 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 (b) of this section not subject to the 6.65 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 (b) of this section. 20 The fraction for this subparagraph is computed as follows: the numerator 21 is the lesser of fifty thousand dollars or the excess of New York 22 adjusted gross income for the taxable year over one hundred thousand 23 dollars and the denominator is fifty thousand dollars. 24 (B) The tax table benefit is the difference between (i) the amount of 25 taxable income set forth in the tax table in paragraph one of subsection 26 (b) of this section not subject to the 6.85 percent rate of tax for the 27 taxable year multiplied by such rate and (ii) the dollar denominated tax 28 for such amount of taxable income set forth in the tax table applicable 29 to the taxable year in paragraph one of subsection (b) of this section 30 less the tax table benefit in subparagraph (A) of this paragraph. The 31 fraction for this subparagraph is computed as follows: the numerator is 32 the lesser of fifty thousand dollars or the excess of New York adjusted 33 gross income for the taxable year over two hundred fifty thousand 34 dollars and the denominator is fifty thousand dollars. Provided, howev- 35 er, this subparagraph shall not apply to taxpayers who are not subject 36 to the 6.85 percent tax rate. 37 (C) The tax table benefit is the difference between (i) the amount of 38 taxable income set forth in the tax table in paragraph one of subsection 39 (b) of this section not subject to the 8.82 percent rate of tax for the 40 taxable year multiplied by such rate and (ii) the dollar denominated tax 41 for such amount of taxable income set forth in the tax table applicable 42 to the taxable year in paragraph one of subsection (b) of this section 43 less the sum of the tax table benefits in subparagraphs (A) and (B) of 44 this paragraph. The fraction for this subparagraph is computed as 45 follows: the numerator is the lesser of fifty thousand dollars or the 46 excess of New York adjusted gross income for the taxable year over one 47 million dollars and the denominator is fifty thousand dollars. 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 (b) of this section not subject to the 9.32 percent rate of tax for the 51 taxable year multiplied by such rate and (ii) the dollar denominated tax 52 for such amount of taxable income set forth in the tax table applicable 53 to the taxable year in paragraph one of subsection (b) of this section 54 less the sum of the tax table benefits in subparagraphs (A), (B) and (C) 55 of this paragraph. The fraction for this subparagraph is computed as 56 follows: the numerator is the lesser of fifty thousand dollars or theA. 9179 9 1 excess of New York adjusted gross income for the taxable year over five 2 million dollars and the denominator is fifty thousand dollars. 3 (E) 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 9.82 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 benefits in subparagraphs (A), (B), (C) 10 and (D) of this paragraph. The fraction for this subparagraph is 11 computed as follows: the numerator is the lesser of fifty thousand 12 dollars or the excess of New York adjusted gross income for the taxable 13 year over ten million dollars and the denominator is fifty thousand 14 dollars. 15 (F) Provided, however, the total tax prior to the application of any 16 tax credits shall not exceed the highest rate of tax set forth in the 17 tax tables in subsection (b) of this section multiplied by the taxpay- 18 er's taxable income. 19 (3) For resident unmarried individuals, resident married individuals 20 filing separate returns and resident estates and trusts, the supple- 21 mental tax shall be an amount equal to the sum of the tax table benefits 22 described in subparagraphs (A), (B), (C), (D) and (E) of this paragraph 23 multiplied by their respective fractions in such subparagraphs. 24 (A) The tax table benefit is the difference between (i) the amount of 25 taxable income set forth in the tax table in paragraph one of subsection 26 (c) of this section not subject to the 6.65 percent rate of tax for the 27 taxable year multiplied by such rate and (ii) the dollar denominated tax 28 for such amount of taxable income set forth in the tax table applicable 29 to the taxable year in paragraph one of subsection (c) of this section. 30 The fraction is computed as follows: the numerator is the lesser of 31 fifty thousand dollars or the excess of New York adjusted gross income 32 for the taxable year over one hundred thousand dollars and the denomina- 33 tor is 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 (c) 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 (c) 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 thousand dollars and 44 the denominator is fifty thousand dollars. Provided, however, this 45 subparagraph shall not apply to taxpayers who are not subject to the 46 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 (c) of this section not subject to the 8.82 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 (c) of this section 53 less the sum of the tax table benefits in subparagraphs (A) and (B) of 54 this paragraph. The fraction for this subparagraph is computed as 55 follows: the numerator is the lesser of fifty thousand dollars or theA. 9179 10 1 excess of New York adjusted gross income for the taxable year over one 2 million dollars and the denominator is fifty thousand dollars. 3 (D) 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 (c) of this section not subject to the 9.32 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 (c) of this section 9 less the sum of the tax table benefits in subparagraphs (A), (B) and (C) 10 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 five 13 million dollars and the denominator is fifty thousand dollars. 14 (E) 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 9.82 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 benefits in subparagraphs (A), (B), (C) 21 and (D) of this paragraph. The fraction for this subparagraph is 22 computed as follows: the numerator is the lesser of fifty thousand 23 dollars or the excess of New York adjusted gross income for the taxable 24 year over ten million dollars and the denominator is fifty thousand 25 dollars. 26 (F) Provided, however, the total tax prior to the application of any 27 tax credits shall not exceed the highest rate of tax set forth in the 28 tax tables in subsection (c) of this section multiplied by the taxpay- 29 er's taxable income. 30 § 6. Subsection (f) of section 614 of the tax law, as amended by 31 section 11 of part FF of chapter 59 of the laws of 2013, is amended to 32 read as follows: 33 (f) Adjusted standard deduction. For taxable years beginning after two 34 thousand seventeen, the standard deductions set forth in this section 35 shall be the amounts set forth in this section adjusted by the cost of 36 living adjustment prescribed in section six hundred one-a of this part 37 for tax years two thousand thirteen [through two thousand seventeen] and 38 thereafter. 39 § 7. Notwithstanding any provision of law to the contrary, the method 40 of determining the amount to be deducted and withheld from wages on 41 account of taxes imposed by or pursuant to the authority of article 22 42 of the tax law in connection with the implementation of the provisions 43 of this act shall be prescribed by regulations of the commissioner of 44 taxation and finance with due consideration to the effect such withhold- 45 ing tables and methods would have on the receipt and amount of revenue. 46 The commissioner of taxation and finance shall adjust such withholding 47 tables and methods in regard to taxable years beginning in 2018 and 48 after in such manner as to result, so far as practicable, in withholding 49 from an employee's wages an amount substantially equivalent to the tax 50 reasonably estimated to be due for such taxable years as a result of the 51 provisions of this act. Any such regulations to implement a change in 52 withholding tables and methods for tax year 2018 shall be adopted and 53 effective as soon as practicable and the commissioner of taxation and 54 finance may adopt such regulations on an emergency basis notwithstanding 55 anything to the contrary in section 202 of the state administrative 56 procedure act. The commissioner of taxation and finance, in carrying outA. 9179 11 1 the duties and responsibilities under this section, may accompany such a 2 rule making procedure with a similar procedure with respect to the taxes 3 required to be deducted and withheld by local laws imposing taxes pursu- 4 ant to the authority of articles 30, 30-A and 30-B of the tax law, the 5 provisions of any other law in relation to such a procedure to the 6 contrary notwithstanding. 7 § 8. This act shall take effect immediately and shall apply to taxable 8 years beginning on or after January 1, 2018. 9 § 2. Severability clause. If any clause, sentence, paragraph, subdivi- 10 sion, section or part of this act shall be adjudged by any court of 11 competent jurisdiction to be invalid, such judgment shall not affect, 12 impair, or invalidate the remainder thereof, but shall be confined in 13 its operation to the clause, sentence, paragraph, subdivision, section 14 or part thereof directly involved in the controversy in which such judg- 15 ment shall have been rendered. It is hereby declared to be the intent of 16 the legislature that this act would have been enacted even if such 17 invalid provisions had not been included herein. 18 § 3. This act shall take effect immediately provided, however, that 19 the applicable effective date of Parts A through B of this act shall be 20 as specifically set forth in the last section of such Parts.