| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 04, 2012 |
referred to investigations and government operations |
| Mar 03, 2011 |
referred to investigations and government operations |
Senate Bill S3773
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
co-Sponsors
(R, C, IP) Senate District
(R, C, SC) Senate District
2011-S3773 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง601, Tax L
- Versions Introduced in 2009-2010 Legislative Session:
-
S3524
2011-S3773 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3773
TITLE OF BILL:
An act
to amend the tax law, in relation to the imposition of tax on
individuals
PURPOSE:
This bill would reduce income taxes on individuals earning
less than $150,000 by approximately 15 per cent.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 - amends
subsections (a), (b)
and (c) of section 601 of the Tax Law to reduce tax rates for income
levels under $150,000 beginning in taxable years after 2012. The bill
reduces the tax rate by approximately 15%, after rounding, on income
levels up to $150,000 for (a) resident married individuals filing
joint returns and resident surviving spouses, (b) resident heads of
households and (c) resident unmarried individuals, resident married
individuals filing separate returns and resident estates and trusts
Section 2 - Effective date.
CURRENT LAW:
Tax Law Section 601 sets forth various tax rates for
individuals.
2011-S3773 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3773
2011-2012 Regular Sessions
I N S E N A T E
March 3, 2011
___________
Introduced by Sens. RANZENHOFER, GOLDEN -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Investi-
gations and Government Operations
AN ACT to amend the tax law, in relation to the imposition of tax on
individuals
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraphs 1, 2, 3, 4, 5, 6, 7, 8 and 9 of subsection (a)
of section 601 of the tax law are renumbered paragraphs 2, 3, 4, 5, 6,
7, 8, 9 and 10 and a new paragraph 1 is added to read as follows:
(1) FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND TWELVE:
IF THE NEW YORK TAXABLE INCOME IS: THE TAX IS:
NOT OVER $16,000 3.6% OF THE NEW YORK TAXABLE
INCOME
OVER $16,000 BUT NOT OVER $22,000 $576 PLUS 4% OF EXCESS OVER
$16,000
OVER $22,000 BUT NOT OVER $26,000 $816 PLUS 4.75% OF EXCESS OVER
$22,000
OVER $26,000 BUT NOT OVER $40,000 $1006 PLUS 5.3% OF EXCESS OVER
$26,000
OVER $40,000 BUT NOT OVER $150,000 $1748 PLUS 6.2% OF EXCESS OVER
$40,000
OVER $150,000 $8568 PLUS 6.85% OF EXCESS OVER
$150,000
S 2. Paragraphs 1, 2, 3, 4, 5, 6, 7, 8 and 9 of subsection (b) of
section 601 of the tax law are renumbered paragraphs 2, 3, 4, 5, 6, 7,
8, 9 and 10 and a new paragraph 1 is added to read as follows:
(1) FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND TWELVE:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02101-01-1
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