senate Bill S103A

2013-2014 Legislative Session

Reduces personal income tax rates for the middle class

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Archive: Last Bill Status - In Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 28, 2014 print number 103a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

S103 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §601, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S7845

S103 - Summary

Reduces personal income tax rates for the middle class.

S103 - Sponsor Memo

S103 - Bill Text download pdf

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

                                   103

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to reducing personal income tax
  rates

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

  Section  1.  Subparagraph  (B)  of  paragraph  1  of subsection (a) of
section 601 of the tax law, as added by section 1 of part A  of  chapter
56 of the laws of 2011, is amended to read as follows:
  (B)  For  taxable  years  beginning  after  two thousand fourteen, the
following brackets and dollar amounts shall apply, as  adjusted  by  the
cost  of  living  adjustment  prescribed in section six hundred one-a of
this part for tax years two thousand thirteen and two thousand fourteen:

If the New York taxable income is:    The tax is:
Not over $16,000                      4% of 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 5.90% of excess over
                                      $26,000
Over $40,000 BUT NOT OVER             $1,946 plus [6.85%]
$150,000                              6.45% of excess over
                                      $40,000
OVER $150,000 BUT NOT OVER            $9,041 PLUS 6.65% OF
$300,000                              EXCESS OVER $150,000
OVER $300,000                         $19,016 PLUS 6.85% OF
                                      EXCESS OVER $300,000

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

S103A (ACTIVE) - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §601, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S7845

S103A (ACTIVE) - Summary

Reduces personal income tax rates for the middle class.

S103A (ACTIVE) - Sponsor Memo

S103A (ACTIVE) - Bill Text download pdf

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

                                 103--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  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 reducing personal income tax
  rates

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

  Section 1. Subparagraph (B)  of  paragraph  1  of  subsection  (a)  of
section  601 of the tax law, as amended by section 1 of part FF of chap-
ter 59 of the laws of 2013, is amended to read as follows:
  (B) For taxable years beginning  after  two  thousand  seventeen,  the
following  brackets  and  dollar amounts shall apply, as adjusted by the
cost of living adjustment prescribed in section  six  hundred  one-a  of
this  part  for  tax  years  two  thousand thirteen through two thousand
seventeen:

If the New York taxable income is:    The tax is:
Not over $16,000                      4% of 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 5.90% of excess over
                                      $26,000
Over $40,000 BUT NOT OVER $150,000    $1,946 plus [6.85%]
                                      6.45% of excess over $40,000

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01970-02-4

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