senate Bill S1799

2013-2014 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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to cities
Jan 09, 2013 referred to cities

S1799 - Details

See Assembly Version of this Bill:
A1183
Current Committee:
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-1701, NYC Ad Cd; amd §1304, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6804, A9951

S1799 - 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.

S1799 - Sponsor Memo

S1799 - Bill Text download pdf

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

                                  1799

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by Sen. ESPAILLAT -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities

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 FOURTEEN, 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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02970-01-3

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