Assembly Bill A9951

2011-2012 Legislative Session

Establishes a tax table benefit recapture for joint returns over $250,000, individual returns over $150,000 and head of household over $180,000

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A9951 (ACTIVE) - Details

See Senate Version of this Bill:
S6804
Current Committee:
Assembly Ways And Means
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-1701, NYC Ad Cd; amd §1304, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A1183, S1799
2015-2016: A1000, S3554
2017-2018: A675
2019-2020: A2503
2021-2022: A3660

2011-A9951 (ACTIVE) - Summary

Establishes a tax table benefit recapture for joint returns over $250,000, individual returns over $150,000 and head of household returns over $180,000; makes changes to the New York city personal income tax rates.

2011-A9951 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9951

                          I N  A S S E M B L Y

                             April 26, 2012
                               ___________

Introduced  by  M.  of  A.  RODRIGUEZ  --  read once and referred to the
  Committee on Ways and Means

AN ACT to amend the administrative code of the city of New York and  the
  tax  law,  in  relation to establishing a tax table benefit recapture;
  and in relation to New York city personal income tax rates

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section 11-1701 of the administrative code of the city of
New York is amended by adding a new subdivision (i) to read as follows:
  (I) TAX TABLE BENEFIT RECAPTURE. FOR TAXABLE YEARS  BEGINNING  IN  TWO
THOUSAND  THIRTEEN, THERE IS HEREBY IMPOSED A SUPPLEMENTAL TAX, IN ADDI-
TION TO THE TAX IMPOSED UNDER THE OPENING PARAGRAPH OF THIS SECTION, FOR
THE PURPOSE OF RECAPTURING THE BENEFIT OF THE TAX  TABLES  CONTAINED  IN
SUBDIVISION (A) OF THIS SECTION. THE SUPPLEMENTAL TAX SHALL BE AN AMOUNT
EQUAL  TO  THE  SUM OF THE TAX TABLE BENEFITS IN PARAGRAPHS ONE, TWO AND
THREE OF THIS SUBDIVISION MULTIPLIED BY THEIR  RESPECTIVE  FRACTIONS  IN
SUCH PARAGRAPHS.
  (1)  RESIDENT  MARRIED  INDIVIDUALS FILING JOINT RETURNS AND SURVIVING
SPOUSES. SUBPARAGRAPHS (A) AND (B)  OF  THIS  PARAGRAPH  APPLY  ONLY  TO
FILERS WHOSE TAXABLE INCOME EXCEEDS $250,000.
  (A) THE TAX TABLE BENEFIT IS $333.
  (B)  THE  FRACTION IS COMPUTED AS FOLLOWS: THE NUMERATOR IS THE LESSER
OF FIFTY THOUSAND DOLLARS OR THE  EXCESS  OF  NEW  YORK  ADJUSTED  GROSS
INCOME  FOR THE TAXABLE YEAR OVER TWO HUNDRED FIFTY THOUSAND DOLLARS AND
THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.
  (2) RESIDENT UNMARRIED INDIVIDUALS AND  RESIDENT  MARRIED  INDIVIDUALS
FILING  SEPARATE  RETURNS.  SUBPARAGRAPHS  (A) AND (B) OF THIS PARAGRAPH
APPLY ONLY TO FILERS WHOSE TAXABLE INCOME EXCEEDS $150,000.
  (A) THE TAX TABLE BENEFIT IS $185.
  (B) THE FRACTION IS COMPUTED AS FOLLOWS: THE NUMERATOR IS  THE  LESSER
OF  FIFTY  THOUSAND  DOLLARS  OR  THE  EXCESS OF NEW YORK ADJUSTED GROSS
INCOME FOR THE TAXABLE YEAR OVER ONE HUNDRED FIFTY THOUSAND DOLLARS  AND
THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15007-05-2
              

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