Bill Text: NY A09100 | 2015-2016 | General Assembly | Introduced
Bill Title: Relates to calculation of the personal income tax.
Spectrum: Partisan Bill (Republican 13-0)
Status: (Introduced - Dead) 2016-06-15 - held for consideration in ways and means [A09100 Detail]
Download: New_York-2015-A09100-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 9100 IN ASSEMBLY January 26, 2016 ___________ Introduced by M. of A. KOLB -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to calculation of the personal income tax The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph 1 of subsection (a) of section 601 of the tax 2 law, as amended by section 1 of part FF of chapter 59 of the laws of 3 2013, is amended to read as follows: 4 (1) (A) For taxable years beginning after two thousand [eleven and5before two thousand eighteen] sixteen: 6 If the New York taxable income is: The tax is: 7 Not over [$16,000] $40,000 [4%] 0% of 8 taxable income 9 [Over $16,000 but not over $22,000 $640 plus 4.5% of excess over10$16,00011Over $22,000 but not over $26,000 $910 plus 5.25% of excess over12$22,00013Over $26,000 but not over $40,000 $1,120 plus 5.90% of excess over14$26,000] 15 Over $40,000 but not over $150,000 $1,946 plus 6.45% of excess over 16 $40,000 17 Over $150,000 but not over $300,000 $9,041 plus 6.65% of excess over 18 $150,000 19 Over $300,000 but not over $2,000,000 $19,016 plus 6.85% of excess over 20 $300,000 21 Over $2,000,000 $135,466 plus 8.82% of excess over 22 $2,000,000 23 (B) For taxable years beginning after two thousand seventeen, the 24 following brackets and dollar amounts shall apply, as adjusted by the 25 cost of living adjustment prescribed in section six hundred one-a of EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13301-01-5