senate Bill S4309

2011-2012 Legislative Session

Reduces the marginal personal income tax for taxable years beginning after 2005 to 6.5%; repealer

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

do you support this bill?

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to investigations and government operations
Mar 28, 2011 referred to investigations and government operations

Co-Sponsors

S4309 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §601, Tax L
Versions Introduced in 2009-2010 Legislative Session:
A2814

S4309 - Summary

Reduces the marginal personal income tax for taxable years beginning after 2005 to 6.5%.

S4309 - Sponsor Memo

S4309 - Bill Text download pdf

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

                                  4309

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 28, 2011
                               ___________

Introduced  by  Sens.  DeFRANCISCO,  MAZIARZ,  SEWARD  -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations and Government Operations

AN  ACT  to amend the tax law, in relation to personal income tax rates;
  and to repeal paragraph 1 of subsections (a), (b) and (c)  of  section
  601 of the tax law, in relation thereto

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

  Section 1. Paragraph 1 of subsections (a), (b) and (c) of section  601
of the tax law are REPEALED  and paragraphs 2, 3, 4, 5, 6, 7, 8 and 9 of
subsections (a), (b) and (c) are renumbered paragraphs 1, 2, 3, 4, 5, 6,
7 and 8.
  S  2. Paragraph 1 of subsections (a), (b) and (c) and subparagraph (A)
of paragraph 1 of subsection (d) of section 601 of the  tax  law,  para-
graph  1 of subsections (a), (b) and (c) as amended by section 1 of part
Z1 of chapter 57 of the laws of 2009 and as renumbered by section  1  of
this  act  and  subparagraph  (A)  of  paragraph  1 of subsection (d) as
amended by section 1 of part R of chapter 63 of the laws  of  2003,  are
amended to read as follows:
  (1)  For  taxable  years beginning after two thousand five [and before
two thousand nine and after two thousand eleven]:

If the New York taxable income is:    The tax is:
Not over $16,000                      4% of the New York taxable
                                      income
Over $16,000 but not over $22,000     $640 plus 4.5% of excess over
                                      $16,000
Over $22,000 but not over $26,000     $910 plus 5.25% of excess over
                                      $22,000
Over $26,000 but not over $40,000     $1,120 plus 5.9% of excess over

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07271-01-1

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.