STATE OF NEW YORK
________________________________________________________________________
29--A
2021-2022 Regular Sessions
IN SENATE(Prefiled)
January 6, 2021
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Introduced by Sens. KAPLAN, ADDABBO, AKSHAR, BRESLIN, HELMING, JORDAN,
MARTUCCI, MYRIE, RAMOS, SKOUFIS -- read twice and ordered printed, and
when printed to be committed to the Committee on Budget and Revenue --
recommitted to the Committee on Budget and Revenue in accordance with
Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
AN ACT to amend the tax law, in relation to the business income base
rate
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subparagraph (iv) of paragraph (a) of subdivision 1 of
2 section 210 of the tax law, as amended by section 12 of part A of chap-
3 ter 59 of the laws of 2014, is amended to read as follows:
4 (iv) (A) for taxable years beginning before January first, two thou-
5 sand sixteen, if the business income base is not more than two hundred
6 ninety thousand dollars the amount shall be six and one-half percent of
7 the business income base; if the business income base is more than two
8 hundred ninety thousand dollars but not over three hundred ninety thou-
9 sand dollars the amount shall be the sum of (1) eighteen thousand eight
10 hundred fifty dollars, (2) seven and one-tenth percent of the excess of
11 the business income base over two hundred ninety thousand dollars but
12 not over three hundred ninety thousand dollars and (3) four and thirty-
13 five hundredths percent of the excess of the business income base over
14 three hundred fifty thousand dollars but not over three hundred ninety
15 thousand dollars;
16 (B) for taxable years beginning on or after January first, two thou-
17 sand twenty-two, if the business income base is not more than two
18 hundred ninety thousand dollars the amount shall be four percent of the
19 business income base; if the business income base is more than two
20 hundred ninety thousand dollars but not over three hundred ninety thou-
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01185-02-2
S. 29--A 2
1 sand dollars the amount shall be the sum of (1) eleven thousand six
2 hundred dollars, (2) six and one-half percent of the excess of the busi-
3 ness income base over two hundred ninety thousand dollars but not over
4 three hundred ninety thousand dollars and (3) eighteen and thirteen
5 hundredths percent of the excess of the business income base over three
6 hundred fifty thousand dollars but not over three hundred ninety thou-
7 sand dollars;
8 § 2. This act shall take effect immediately and shall apply to taxa-
9 ble years beginning on or after January 1, 2022.
