NY State Assembly Bill 2021-A4604

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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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to ways and means
Feb 04, 2021	referred to ways and means

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2021-A4604 (ACTIVE) - Details

See Senate Version of this Bill:: S2622
Current Committee:: Assembly Ways And Means
Law Section:: Tax Law
Laws Affected:: Amd §601, Tax L
Versions Introduced in Other Legislative Sessions:: 2023-2024: A3115, S2059
2025-2026: A1281, S1622

2021-A4604 (ACTIVE) - Summary

Imposes a progressive income tax structure for high income taxpayers.

2021-A4604 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4604
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2021
                                ___________
 
 Introduced  by  M.  of  A. MEEKS, BRONSON, L. ROSENTHAL -- read once and
   referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law,  in  relation  to  imposing  a  progressive
   income tax structure
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Clauses (iv), (v), (vi), (vii) and (viii)  of  subparagraph
 (B)  of  paragraph  1  of  subsection (a) of section 601 of the tax law,
 clauses (iv), (v), (vi) and (vii) as amended by section 1 of part  P  of
 chapter  59 of the laws of 2019, and clause (viii) as added by section 1
 of part R of chapter 59 of the laws of 2017,  are  amended  to  read  as
 follows:
   (iv)  For  taxable  years  beginning  in  two  thousand twenty-one the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $17,150                      4% of the New York taxable income
 Over $17,150 but not over $23,600     $686 plus 4.5% of excess over
                                       $17,150
 Over $23,600 but not over $27,900     $976 plus 5.25% of excess over
                                       $23,600
 Over $27,900 but not over $43,000     $1,202 plus 5.9% of excess over
                                       $27,900
 Over $43,000 but not over $161,550    $2,093 plus 5.97% of excess over
                                       $43,000
 Over $161,550 but not over $323,200   $9,170 plus 6.33% of excess over
                                       $161,550
 Over $323,200 but not over            $19,403 plus 6.85% of excess
 [$2,155,350] $450,000                 over  $323,200
 Over [$2,155,350                      $144,905 plus 8.82% of excess over
                                       $2,155,350]
      $450,000 BUT NOT OVER $600,000   $28,089 PLUS 7.5% OF EXCESS OVER
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD04685-02-1

 A. 4604                             2
 
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $39,339 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $47,339 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $55,839 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $64,839 PLUS 9.5% OF EXCESS OVER
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $74,339 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $84,339 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $95,339 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $611,339 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,326,339 PLUS 14% OF EXCESS OVER
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,186,339 PLUS 15% OF EXCESS OVER
                                       $110,000,000
   (v) For taxable years beginning in two thousand twenty-two the follow-
 ing rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $17,150                      4% of the New York taxable income
 Over $17,150 but not over $23,600     $686 plus 4.5% of excess over
                                       $17,150
 Over $23,600 but not over $27,900     $976 plus 5.25% of excess over
                                       $23,600
 Over $27,900 but not over $161,550    $1,202 plus 5.85% of excess over
                                       $27,900
 Over $161,550 but not over $323,200   $9,021 plus 6.25% of excess over
                                       $161,550
 Over $323,200 but not over            $19,124 plus
 [$2,155,350] $450,000                 6.85% of excess over $323,200
 Over [$2,155,350                      $144,626 plus 8.82% of excess over
                                       $2,155,350]
      $450,000 BUT NOT OVER $600,000   $27,810 PLUS 7.5% OF EXCESS OVER
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $39,060 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $47,060 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $55,560 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $64,560 PLUS 9.5% OF EXCESS OVER
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $74,060 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $84,060 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $95,060 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $611,060 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,326,060 PLUS 14% OF EXCESS OVER

 A. 4604                             3
 
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,186,060 PLUS 15% OF EXCESS OVER
                                       $110,000,000
   (vi)  For  taxable  years  beginning  in two thousand twenty-three the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $17,150                      4% of the New York taxable income
 Over $17,150 but not over $23,600     $686 plus 4.5% of excess over
                                       $17,150
 Over $23,600 but not over $27,900     $976 plus 5.25% of excess over
                                       $23,600
 Over $27,900 but not over $161,550    $1,202 plus 5.73% of excess over
                                       $27,900
 Over $161,550 but not over $323,200   $8,860 plus 6.17% of excess over
                                       $161,550
 Over $323,200 but not over            $18,834 plus 6.85% of
 [$2,155,350] $450,000                 excess over $323,200
 Over [$2,155,350                      $144,336 plus 8.82% of excess over
                                       $2,155,350]
      $450,000 BUT NOT OVER $600,000   $27,520 PLUS 7.5% OF EXCESS OVER
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $38,770 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $46,770 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $55,270 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $64,270 PLUS 9.5% OF EXCESS OVER
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $73,770 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $83,770 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $94,770 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $610,770 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,325,770 PLUS 14% OF EXCESS OVER
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,185,770 PLUS 15% OF EXCESS OVER
                                       $110,000,000
   (vii) For taxable years beginning  in  two  thousand  twenty-four  the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $17,150                      4% of the New York taxable income
 Over $17,150 but not over $23,600     $686 plus 4.5% of excess over
                                       $17,150
 Over $23,600 but not over $27,900     $976 plus 5.25% of excess over
                                       $23,600
 Over $27,900 but not over $161,550    $1,202 plus 5.61% of excess over
                                       $27,900
 Over $161,550 but not over $323,200   $8,700 plus 6.09% of excess over
                                       $161,550
 Over $323,200 but not over            $18,544 plus 6.85% of
 [$2,155,350] $450,000                 excess over $323,200
 Over [$2,155,350                      $144,047 plus 8.82% of excess over

 A. 4604                             4

                                       $2,155,350]
      $450,000 BUT NOT OVER $600,000   $27,230 PLUS 7.5% OF EXCESS OVER
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $38,480 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $46,480 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $54,980 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $63,980 PLUS 9.5% OF EXCESS OVER
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $73,480 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $83,480 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $94,480 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $610,480 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,325,480 PLUS 14% OF EXCESS OVER
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,185,480 PLUS 15% OF EXCESS OVER
                                       $110,000,000
   (viii)  For taxable years beginning after two thousand twenty-four the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $17,150                      4% of the New York taxable income
 Over $17,150 but not over $23,600     $686 plus 4.5% of excess over
                                       $17,150
 Over $23,600 but not over $27,900     $976 plus 5.25% of excess over
                                       $23,600
 Over $27,900 but not over $161,550    $1,202 plus 5.5% of excess over
                                       $27,900
 Over $161,550 but not over $323,200   $8,553 plus 6.00% of excess over
                                       $161,550
 Over $323,200 BUT NOT OVER            $18,252 plus 6.85% of excess over
 $450,000                              $323,200
 OVER $450,000 BUT NOT OVER $600,000   $26,938 PLUS 7.5% OF EXCESS OVER
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $38,188 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $46,188 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $54,688 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $63,688 PLUS 9.5% OF EXCESS OVER
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $73,188 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $83,188 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $94,188 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $610,188 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,325,188 PLUS 14% OF EXCESS OVER

 A. 4604                             5
 
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,185,188 PLUS 15% OF EXCESS OVER
                                       $110,000,000
   §  2. Clauses (iv), (v), (vi), (vii) and (viii) of subparagraph (B) of
 paragraph 1 of subsection (b) of section 601 of  the  tax  law,  clauses
 (iv),  (v),  (vi) and (vii) as amended by section 2 of part P of chapter
 59 of the laws of 2019, and clause (viii) as added by section 2 of  part
 R of chapter 59 of the laws of 2017, are amended to read as follows:
   (iv)  For  taxable  years  beginning  in  two  thousand twenty-one the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $12,800                      4% of the New York taxable income
 Over $12,800 but not over $17,650     $512 plus 4.5% of excess over
                                       $12,800
 Over $17,650 but not over $20,900     $730 plus 5.25% of excess over
                                       $17,650
 Over $20,900 but not over $32,200     $901 plus 5.9% of excess over
                                       $20,900
 Over $32,200 but not over $107,650    $1,568 plus 5.97% of excess over
                                       $32,200
 Over $107,650 but not over $269,300   $6,072 plus 6.33% of excess over
                                       $107,650
 Over $269,300 but not over            $16,304 plus 6.85% of
 [$1,616,450] $450,000                 excess over $269,300
 Over [$1,616,450                      $108,584 plus 8.82% of excess over
                                       $1,616,450]
      $450,000 BUT NOT OVER $600,000   $28,682 PLUS 7.5% OF EXCESS OVER
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $39,932 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $47,932 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $56,432 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $65,432 PLUS 9.5% OF EXCESS OVER
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $74,932 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $84,932 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $95,932 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $611,932 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,326,932 PLUS 14% OF EXCESS OVER
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,186,932 PLUS 15% OF EXCESS OVER
                                       $110,000,000
   (v) For taxable years beginning in two thousand twenty-two the follow-
 ing rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $12,800                      4% of the New York taxable income
 Over $12,800 but not over $17,650     $512 plus 4.5% of excess over
                                       $12,800
 Over $17,650 but not over $20,900     $730 plus 5.25% of excess over

 A. 4604                             6
 
                                       $17,650
 Over $20,900 but not over $107,650    $901 plus 5.85% of excess over
                                       $20,900
 Over $107,650 but not over $269,300   $5,976 plus 6.25% of excess over
                                       $107,650
 Over $269,300 but not over            $16,079 plus 6.85% of excess
 [$1,616,450] $450,000                 over $269,300
 Over [$1,616,450                      $108,359 plus 8.82% of excess over
                                       $1,616,450]
      $450,000 BUT NOT OVER $600,000   $28,457 PLUS 7.5% OF EXCESS OVER
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $39,707 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $47,707 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $56,207 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $65,207 PLUS 9.5% OF EXCESS OVER
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $74,707 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $84,707 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $95,707 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $611,707 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,326,707 PLUS 14% OF EXCESS OVER
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,186,707 PLUS 15% OF EXCESS OVER
                                       $110,000,000
   (vi)  For  taxable  years  beginning  in two thousand twenty-three the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $12,800                      4% of the New York taxable income
 Over $12,800 but not over $17,650     $512 plus 4.5% of excess over
                                       $12,800
 Over $17,650 but not over $20,900     $730 plus 5.25% of excess over
                                       $17,650
 Over $20,900 but not over $107,650    $901 plus 5.73% of excess over
                                       $20,900
 Over $107,650 but not over $269,300   $5,872 plus 6.17% of excess over
                                       $107,650
 Over $269,300 but not over            $15,845 plus 6.85% of excess
 [$1,616,450] $450,000                 over $269,300
 Over [$1,616,450                      $108,125 plus 8.82% of excess over
                                       $1,616,450]
      $450,000 BUT NOT OVER $600,000   $28,223 PLUS 7.5% OF EXCESS OVER
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $39,473 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $47,473 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $55,973 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $64,973 PLUS 9.5% OF EXCESS OVER

 A. 4604                             7
 
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $74,473 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $84,473 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $95,473 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $611,473 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,326,473 PLUS 14% OF EXCESS OVER
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,186,473 PLUS 15% OF EXCESS OVER
                                        $110,000,000
   (vii)  For  taxable  years  beginning  in two thousand twenty-four the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $12,800                      4% of the New York taxable income
 Over $12,800 but not over $17,650     $512 plus 4.5% of excess over
                                       $12,800
 Over $17,650 but not over $20,900     $730 plus 5.25% of excess over
                                       $17,650
 Over $20,900 but not over $107,650    $901 plus 5.61% of excess over
                                       $20,900
 Over $107,650 but not over $269,300   $5,768 plus 6.09% of excess over
                                       $107,650
 Over $269,300 but not over            $15,612 plus 6.85% of excess
 [$1,616,450] $450,000                 over $269,300
 Over [$1,616,450                      $107,892 plus 8.82% of excess over
                                       $1,616,450]
      $450,000 BUT NOT OVER $600,000   $27,990 PLUS 7.5% OF EXCESS OVER
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $39,240 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $47,240 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $55,740 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $64,740 PLUS 9.5% OF EXCESS OVER
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $74,240 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $84,240 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $95,240 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $611,240 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,326,240 PLUS 14% OF EXCESS OVER
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,186,240 PLUS 15% OF EXCESS OVER
                                       $110,000,000
   (viii) For taxable years beginning after two thousand twenty-four  the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $12,800                      4% of the New York taxable income
 Over $12,800 but not over $17,650     $512 plus 4.5% of excess over

 A. 4604                             8
 
                                       $12,800
 Over $17,650 but not over $20,900     $730 plus 5.25% of excess over
                                       $17,650
 Over $20,900 but not over $107,650    $901 plus 5.5% of excess over
                                       $20,900
 Over $107,650 but not over $269,300   $5,672 plus 6.00% of excess over
                                       $107,650
 Over $269,300 BUT NOT OVER            $15,371 plus 6.85% of excess over
 $450,000                              $269,300
 OVER $450,000 BUT NOT OVER $600,000   $27,749 PLUS 7.5% OF EXCESS OVER
                                       $450,000
 OVER $600,000 BUT NOT OVER $700,000   $38,999 PLUS 8% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $46,999 PLUS 8.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $55,499 PLUS 9% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER $1,000,000 $64,499 PLUS 9.5% OF EXCESS OVER
                                       $900,000
 OVER $1,000,000 BUT NOT OVER          $73,999 PLUS 10% OF EXCESS OVER
 $1,100,000                            $1,000,000
 OVER $1,100,000 BUT NOT OVER          $83,999 PLUS 11% OF EXCESS OVER
 $1,200,000                            $1,100,000
 OVER $1,200,000 BUT NOT OVER          $94,999 PLUS 12% OF EXCESS OVER
 $5,500,000                            $1,200,000
 OVER $5,500,000 BUT NOT OVER          $610,999 PLUS 13% OF EXCESS OVER
 $11,000,000                           $5,500,000
 OVER $11,000,000 BUT NOT OVER         $1,325,999 PLUS 14% OF EXCESS OVER
 $110,000,000                          $11,000,000
 OVER $110,000,000                     $15,185,999 PLUS 15% OF EXCESS OVER
                                       $110,000,000
   §  3. Clauses (iv), (v), (vi), (vii) and (viii) of subparagraph (B) of
 paragraph 1 of subsection (c) of section 601 of  the  tax  law,  clauses
 (iv),  (v),  (vi) and (vii) as amended by section 3 of part P of chapter
 59 of the laws of 2019, and clause (viii) as added by section 3 of  part
 R of chapter 59 of the laws of 2017, are amended to read as follows:
   (iv)  For  taxable  years  beginning  in  two  thousand twenty-one the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $8,500                       4% of the New York taxable income
 Over $8,500 but not over $11,700      $340 plus 4.5% of excess over
                                       $8,500
 Over $11,700 but not over $13,900     $484 plus 5.25% of excess over
                                       $11,700
 Over $13,900 but not over $21,400     $600 plus 5.9% of excess over
                                       $13,900
 Over $21,400 but not over $80,650     $1,042 plus 5.97% of excess over
                                       $21,400
 Over $80,650 but not over $215,400    $4,579 plus 6.33% of excess over
                                       $80,650
 Over $215,400 but not over            $13,109 plus 6.85% of excess
 [$1,077,550] $300,000                 over $215,400
 Over [$1,077,550                      $72,166 plus 8.82% of excess over
                                       $1,077,550]
      $300,000 BUT NOT OVER $400,000   $18,904 PLUS 7.5% OF EXCESS OVER

 A. 4604                             9
 
                                       $300,000
 OVER $400,000 BUT NOT OVER $500,000   $26,404 PLUS 8% OF EXCESS OVER
                                       $400,000
 OVER $500,000 BUT NOT OVER $600,000   $34,404 PLUS 8.5% OF EXCESS OVER
                                       $500,000
 OVER $600,000 BUT NOT OVER $700,000   $42,904 PLUS 9% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $51,904 PLUS 9.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $61,404 PLUS 10% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER            $71,404 PLUS 11% OF EXCESS OVER
 $1,000,000                            $900,000
 OVER $1,000,000 BUT NOT OVER          $82,404 PLUS 12% OF EXCESS OVER
 $5,000,000                            $1,000,000
 OVER $5,000,000 BUT NOT OVER          $562,404 PLUS 13% OF EXCESS OVER
 $10,000,000                           $5,000,000
 OVER $10,000,000 BUT NOT OVER         $1,212,404 PLUS 14% OF EXCESS OVER
 $100,000,000                          $10,000,000
 OVER $100,000,000                     $13,812,404 PLUS 15% OF EXCESS OVER
                                       $100,000,000
   (v) For taxable years beginning in two thousand twenty-two the follow-
 ing rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $8,500                       4% of the New York taxable income
 Over $8,500 but not over $11,700      $340 plus 4.5% of excess over
                                       $8,500
 Over $11,700 but not over $13,900     $484 plus 5.25% of excess over
                                       $11,700
 Over $13,900 but not over $80,650     $600 plus 5.85% of excess over
                                       $13,900
 Over $80,650 but not over $215,400    $4,504 plus 6.25% of excess over
                                       $80,650
 Over $215,400 but not over            $12,926 plus 6.85% of excess
 [$1,077,550] $300,000                 over $215,400
 Over [$1,077,550                      $71,984 plus 8.82% of excess over
                                       $1,077,550]
      $300,000 BUT NOT OVER $400,000   $18,721 PLUS 7.5% OF EXCESS OVER
                                       $300,000
 OVER $400,000 BUT NOT OVER $500,000   $26,221 PLUS 8% OF EXCESS OVER
                                       $400,000
 OVER $500,000 BUT NOT OVER $600,000   $34,221 PLUS 8.5% OF EXCESS OVER
                                       $500,000
 OVER $600,000 BUT NOT OVER $700,000   $42,721 PLUS 9% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $51,721 PLUS 9.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $61,221 PLUS 10% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER            $71,221 PLUS 11% OF EXCESS OVER
 $1,000,000                            $900,000
 OVER $1,000,000 BUT NOT OVER          $82,221 PLUS 12% OF EXCESS OVER
 $5,000,000                            $1,000,000
 OVER $5,000,000 BUT NOT OVER          $562,221 PLUS 13% OF EXCESS OVER
 $10,000,000                           $5,000,000
 OVER $10,000,000 BUT NOT OVER         $1,212,221 PLUS 14% OF EXCESS OVER

 A. 4604                            10
 
 $100,000,000                          $10,000,000
 OVER $100,000,000                     $13,812,221 PLUS 15% OF EXCESS OVER
                                       $100,000,000
   (vi)  For  taxable  years  beginning  in two thousand twenty-three the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $8,500                       4% of the New York taxable income
 Over $8,500 but not over $11,700      $340 plus 4.5% of excess over
                                       $8,500
 Over $11,700 but not over $13,900     $484 plus 5.25% of excess over
                                       $11,700
 Over $13,900 but not over $80,650     $600 plus 5.73% of excess over
                                       $13,900
 Over $80,650 but not over $215,400    $4,424 plus 6.17% of excess over
                                       $80,650
 Over $215,400 but not over            $12,738 plus 6.85% of excess
 [$1,077,550] $300,000                 over $215,400
 Over [$1,077,550                      $71,796 plus 8.82% of excess over
                                       $1,077,550]
      $300,000 BUT NOT OVER $400,000   $18,533 PLUS 7.5% OF EXCESS OVER
                                       $300,000
 OVER $400,000 BUT NOT OVER $500,000   $26,033 PLUS 8% OF EXCESS OVER
                                       $400,000
 OVER $500,000 BUT NOT OVER $600,000   $34,033 PLUS 8.5% OF EXCESS OVER
                                       $500,000
 OVER $600,000 BUT NOT OVER $700,000   $42,533 PLUS 9% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $51,533 PLUS 9.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $61,033 PLUS 10% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER            $71,033 PLUS 11% OF EXCESS OVER
 $1,000,000                            $900,000
 OVER $1,000,000 BUT NOT OVER          $82,033 PLUS 12% OF EXCESS OVER
 $5,000,000                            $1,000,000
 OVER $5,000,000 BUT NOT OVER          $562,033 PLUS 13% OF EXCESS OVER
 $10,000,000                           $5,000,000
 OVER $10,000,000 BUT NOT OVER         $1,212,033 PLUS 14% OF EXCESS OVER
 $100,000,000                          $10,000,000
 OVER $100,000,000                     $13,812,033 PLUS 15% OF EXCESS OVER
                                       $100,000,000
   (vii) For taxable years beginning  in  two  thousand  twenty-four  the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $8,500                       4% of the New York taxable income
 Over $8,500 but not over $11,700      $340 plus 4.5% of excess over
                                       $8,500
 Over $11,700 but not over $13,900     $484 plus 5.25% of excess over
                                       $11,700
 Over $13,900 but not over $80,650     $600 plus 5.61% of excess over
                                       $13,900
 Over $80,650 but not over $215,400    $4,344 plus 6.09% of excess over
                                       $80,650
 Over $215,400 but not over            $12,550 plus 6.85% of excess
 [$1,077,550] $300,000                 over $215,400
 Over [$1,077,550                      $71,608 plus 8.82% of excess over

 A. 4604                            11

                                       $1,077,550]
      $300,000 BUT NOT OVER $400,000   $18,345 PLUS 7.5% OF EXCESS OVER
                                       $300,000
 OVER $400,000 BUT NOT OVER $500,000   $25,845 PLUS 8% OF EXCESS OVER
                                       $400,000
 OVER $500,000 BUT NOT OVER $600,000   $33,845 PLUS 8.5% OF EXCESS OVER
                                       $500,000
 OVER $600,000 BUT NOT OVER $700,000   $42,345 PLUS 9% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $51,345 PLUS 9.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $60,845 PLUS 10% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER            $70,845 PLUS 11% OF EXCESS OVER
 $1,000,000                            $900,000
 OVER $1,000,000 BUT NOT OVER          $81,845 PLUS 12% OF EXCESS OVER
 $5,000,000                            $1,000,000
 OVER $5,000,000 BUT NOT OVER          $561,845 PLUS 13% OF EXCESS OVER
 $10,000,000                           $5,000,000
 OVER $10,000,000 BUT NOT OVER         $1,211,845 PLUS 14% OF EXCESS OVER
 $100,000,000                          $10,000,000
 OVER $100,000,000                     $13,811,845 PLUS 15% OF EXCESS OVER
                                       $100,000,000
   (viii)  For taxable years beginning after two thousand twenty-four the
 following rates shall apply:
 If the New York taxable income is:    The tax is:
 Not over $8,500                       4% of the New York taxable income
 Over $8,500 but not over $11,700      $340 plus 4.5% of excess over
                                       $8,500
 Over $11,700 but not over $13,900     $484 plus 5.25% of excess over
                                       $11,700
 Over $13,900 but not over $80,650     $600 plus 5.50% of excess over
                                       $13,900
 Over $80,650 but not over $215,400    $4,271 plus 6.00% of excess over
                                       $80,650
 Over $215,400 BUT NOT OVER            $12,356 plus 6.85% of excess over
 $300,000                              $215,400
 OVER $300,000 BUT NOT OVER $400,000   $18,151 PLUS 7.5% OF EXCESS OVER
                                       $300,000
 OVER $400,000 BUT NOT OVER $500,000   $25,651 PLUS 8% OF EXCESS OVER
                                       $400,000
 OVER $500,000 BUT NOT OVER $600,000   $33,651 PLUS 8.5% OF EXCESS OVER
                                       $500,000
 OVER $600,000 BUT NOT OVER $700,000   $42,151 PLUS 9% OF EXCESS OVER
                                       $600,000
 OVER $700,000 BUT NOT OVER $800,000   $51,151 PLUS 9.5% OF EXCESS OVER
                                       $700,000
 OVER $800,000 BUT NOT OVER $900,000   $60,651 PLUS 10% OF EXCESS OVER
                                       $800,000
 OVER $900,000 BUT NOT OVER            $70,651 PLUS 11% OF EXCESS OVER
 $1,000,000                            $900,000
 OVER $1,000,000 BUT NOT OVER          $81,651 PLUS 12% OF EXCESS OVER
 $5,000,000                            $1,000,000
 OVER $5,000,000 BUT NOT OVER          $561,651 PLUS 13% OF EXCESS OVER
 $10,000,000                           $5,000,000
 OVER $10,000,000 BUT NOT OVER         $1,211,651 PLUS 14% OF EXCESS OVER

 A. 4604                            12
 
 $100,000,000                          $10,000,000
 OVER $100,000,000                     $13,811,651 PLUS 15% OF EXCESS OVER
                                       $100,000,000
   §  4.  Subparagraphs  (A),  (B),  (C),  (D)  and (E) of paragraph 1 of
 subsection (d-1) of section 601 of the tax law, as added by section 7 of
 part A of chapter 56 of the laws of 2011, subparagraph (D) as amended by
 section 4 of part P of chapter 59 of the laws of 2019,  are  amended  to
 read as follows:
   (A)  The tax table benefit is the difference between (i) the amount of
 taxable income set forth in the tax table in paragraph one of subsection
 (a) of this section not subject to the [6.45] 6.33 percent rate  of  tax
 for the taxable year multiplied by such rate and (ii) the dollar denomi-
 nated  tax  for such amount of taxable income set forth in the tax table
 applicable to the taxable year in paragraph one  of  subsection  (a)  of
 this  section.    The  fraction  for  this  subparagraph  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 SIXTY-ONE THOUSAND, FIVE HUNDRED FIFTY thousand dollars and  the
 denominator is fifty thousand dollars.
   (B)  The tax table benefit is the difference between (i) the amount of
 taxable income set forth in the tax table in paragraph one of subsection
 (a) of this section not subject to the [6.65] 6.85 percent rate  of  tax
 for the taxable year multiplied by such rate and (ii) the dollar denomi-
 nated  tax  for such amount of taxable income set forth in the tax table
 applicable to the taxable year in paragraph one  of  subsection  (a)  of
 this  section  less  the  tax  table benefit in subparagraph (A) of this
 paragraph. The fraction for this subparagraph 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]  THREE
 hundred  [fifty]  TWENTY-THREE  thousand,  TWO  HUNDRED  dollars and the
 denominator is fifty thousand dollars. Provided, however, this  subpara-
 graph  shall  not  apply  to taxpayers who are not subject to the [6.65]
 6.85 percent tax rate.
   (C) The tax table benefit is the difference between (i) the amount  of
 taxable income set forth in the tax table in paragraph one of subsection
 (a)  of  this  section not subject to the [6.85] 7.5 percent rate of tax
 for the taxable year multiplied by such rate and (ii) the dollar denomi-
 nated tax for such amount of taxable income set forth in the  tax  table
 applicable  to  the  taxable  year in paragraph one of subsection (a) of
 this section less the sum of the tax table benefit in subparagraphs  (A)
 and  (B)  of  this  paragraph.  The  fraction  for  this subparagraph 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 [three] FOUR hundred FIFTY thousand dollars and the  denomina-
 tor  is  fifty  thousand dollars.   Provided, however, this subparagraph
 shall not apply to taxpayers who are  not  subject  to  the  [6.85]  7.5
 percent tax rate.
   (D)  The tax table benefit is the difference between (i) the amount of
 taxable income set forth in the tax table in paragraph one of subsection
 (a) of this section not subject to the [8.82] 8 percent rate of tax  for
 the taxable year multiplied by such rate and (ii) the dollar denominated
 tax  for such amount of taxable income set forth in the tax table appli-
 cable to the taxable year in paragraph one of  subsection  (a)  of  this
 section less the sum of the tax table benefits in subparagraphs (A), (B)
 and  (C)  of  this  paragraph.  The  fraction  for  this subparagraph is
 computed as follows: the numerator  is  the  lesser  of  fifty  thousand

 A. 4604                            13
 
 dollars  or the excess of New York adjusted gross income for the taxable
 year over [two million] SIX HUNDRED THOUSAND dollars and the denominator
 is fifty thousand dollars. [This subparagraph shall apply only to  taxa-
 ble  years  beginning on or after January first, two thousand twelve and
 before January first, two thousand twenty-five] PROVIDED, HOWEVER,  THIS
 SUBPARAGRAPH  SHALL  NOT APPLY TO TAXPAYERS WHO ARE NOT SUBJECT TO THE 8
 PERCENT TAX RATE.
   (E) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (A)  OF  THIS SECTION NOT SUBJECT TO THE 8.5 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (A) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (D)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 SEVEN
 HUNDRED  THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.
 PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO
 ARE NOT SUBJECT TO THE 8.5 PERCENT TAX RATE.
   (F)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (A) OF THIS SECTION NOT SUBJECT TO THE 9 PERCENT RATE  OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (A) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (E)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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 EIGHT
 HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND  DOLLARS.
 PROVIDED,  HOWEVER,  THIS  SUBPARAGRAPH SHALL NOT APPLY TO TAXPAYERS WHO
 ARE NOT SUBJECT TO THE 9 PERCENT TAX RATE.
   (G) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (A)  OF  THIS SECTION NOT SUBJECT TO THE 9.5 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (A) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (F)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 NINE
 HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND  DOLLARS.
 PROVIDED,  HOWEVER,  THIS  SUBPARAGRAPH SHALL NOT APPLY TO TAXPAYERS WHO
 ARE NOT SUBJECT TO THE 9.5 PERCENT TAX RATE.
   (H) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (A)  OF  THIS  SECTION NOT SUBJECT TO THE 10 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (A) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (G)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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

 A. 4604                            14
 
 MILLION DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS. PROVIDED,
 HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO  ARE  NOT
 SUBJECT TO THE 10 PERCENT TAX RATE.
   (I)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (A) OF THIS SECTION NOT SUBJECT TO THE 11 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (A) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (H)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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
 MILLION  ONE HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOU-
 SAND DOLLARS. PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL  NOT  APPLY  TO
 TAXPAYERS WHO ARE NOT SUBJECT TO THE 11 PERCENT TAX RATE.
   (J)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (A) OF THIS SECTION NOT SUBJECT TO THE 12 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (A) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (I)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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
 MILLION  TWO HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOU-
 SAND DOLLARS. PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL  NOT  APPLY  TO
 TAXPAYERS WHO ARE NOT SUBJECT TO THE 12 PERCENT TAX RATE.
   (K)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (A) OF THIS SECTION NOT SUBJECT TO THE 13 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (A) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (J)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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  FIVE
 MILLION FIVE HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOU-
 SAND  DOLLARS.  PROVIDED,  HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY TO
 TAXPAYERS WHO ARE NOT SUBJECT TO THE 13 PERCENT TAX RATE.
   (L) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (A)  OF  THIS  SECTION NOT SUBJECT TO THE 14 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (A) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (K)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 ELEV-
 EN  MILLION  DOLLARS  AND  THE  DENOMINATOR  IS  FIFTY THOUSAND DOLLARS.
 PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO
 ARE NOT SUBJECT TO THE 14 PERCENT TAX RATE.

 A. 4604                            15
 
   (M)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (A) OF THIS SECTION NOT SUBJECT TO THE 15 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (A) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (L)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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  TEN  MILLION  DOLLARS  AND  THE  DENOMINATOR  IS FIFTY THOUSAND
 DOLLARS. PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY TO TAXPAY-
 ERS WHO ARE NOT SUBJECT TO THE 15 PERCENT TAX RATE.
   (N) Provided, however, the total tax prior to the application  of  any
 tax  credits  shall  not exceed the highest rate of tax set forth in the
 tax tables in subsection (a) of this section multiplied by  the  taxpay-
 er's taxable income.
   §  5. Subparagraphs (A), (B), (C) and (D) of paragraph 2 of subsection
 (d-1) of section 601 of the tax law, as added by section 7 of part A  of
 chapter 56 of the laws of 2011, subparagraph (C) as amended by section 5
 of  part  P  of  chapter  59 of the laws of 2019, are amended to read as
 follows:
   (A) The tax table benefit is the difference between (i) the amount  of
 taxable income set forth in the tax table in paragraph one of subsection
 (b)  of  this section not subject to the [6.65] 6.33 percent rate of tax
 for the taxable year multiplied by such rate and (ii) the dollar denomi-
 nated tax for such amount of taxable income set forth in the  tax  table
 applicable  to  the  taxable  year in paragraph one of subsection (b) of
 this section.   The  fraction  for  this  subparagraph  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  SEVEN thousand SIX HUNDRED FIFTY dollars and the denominator is
 fifty thousand dollars.
   (B) The tax table benefit is the difference between (i) the amount  of
 taxable income set forth in the tax table in paragraph one of subsection
 (b)  of this section not subject to the 6.85 percent rate of tax for the
 taxable year multiplied by such rate and (ii) the dollar denominated tax
 for such amount of taxable income set forth in the tax table  applicable
 to  the  taxable year in paragraph one of subsection (b) of this section
 less the tax table benefit in subparagraph (A) of  this  paragraph.  The
 fraction  for this subparagraph 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] SIXTY-NINE
 thousand THREE HUNDRED dollars and the  denominator  is  fifty  thousand
 dollars. Provided, however, this subparagraph shall not apply to taxpay-
 ers who are not subject to the 6.85 percent tax rate.
   (C)  The tax table benefit is the difference between (i) the amount of
 taxable income set forth in the tax table in paragraph one of subsection
 (b) of this section not subject to the [8.82] 7.5 percent  rate  of  tax
 for the taxable year multiplied by such rate and (ii) the dollar denomi-
 nated  tax  for such amount of taxable income set forth in the tax table
 applicable to the taxable year in paragraph one  of  subsection  (b)  of
 this section less the sum of the tax table benefits in subparagraphs (A)
 and  (B)  of  this  paragraph.  The  fraction  for  this subparagraph 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

 A. 4604                            16
 
 year over [one million five] FOUR hundred FIFTY thousand dollars and the
 denominator is fifty thousand dollars. [This  subparagraph  shall  apply
 only  to taxable years beginning on or after January first, two thousand
 twelve  and  before  January  first, two thousand twenty-five] PROVIDED,
 HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO  ARE  NOT
 SUBJECT TO THE 7.5 PERCENT TAX RATE.
   (D)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (B) OF THIS SECTION NOT SUBJECT TO THE 8 PERCENT RATE  OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF  THIS  SECTION
 LESS  THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A), (B) AND (C)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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  SIX
 HUNDRED  THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.
 PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO
 ARE NOT SUBJECT TO THE 8 PERCENT TAX RATE.
   (E)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (B) OF THIS SECTION NOT SUBJECT TO THE 8.5 PERCENT RATE OF TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (D)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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 SEVEN
 HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND  DOLLARS.
 PROVIDED,  HOWEVER,  THIS  SUBPARAGRAPH SHALL NOT APPLY TO TAXPAYERS WHO
 ARE NOT SUBJECT TO THE 8.5 PERCENT TAX RATE.
   (F) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (B)  OF  THIS  SECTION  NOT SUBJECT TO THE 9 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (E)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 EIGHT
 HUNDRED  THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.
 PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO
 ARE NOT SUBJECT TO THE 9 PERCENT TAX RATE.
   (G)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (B) OF THIS SECTION NOT SUBJECT TO THE 9.5 PERCENT RATE OF TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (F)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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  NINE
 HUNDRED  THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.

 A. 4604                            17
 
 PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO
 ARE NOT SUBJECT TO THE 9.5 PERCENT TAX RATE.
   (H)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (B) OF THIS SECTION NOT SUBJECT TO THE 10 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (G)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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
 MILLION DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS. PROVIDED,
 HOWEVER,  THIS  SUBPARAGRAPH  SHALL  NOT  APPLY TO TAXPAYERS WHO ARE NOT
 SUBJECT TO THE 10 PERCENT TAX RATE.
   (I) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (B)  OF  THIS  SECTION NOT SUBJECT TO THE 11 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (H)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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
 MILLION ONE HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY  THOU-
 SAND  DOLLARS.  PROVIDED,  HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY TO
 TAXPAYERS WHO ARE NOT SUBJECT TO THE 11 PERCENT TAX RATE.
   (J) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (B)  OF  THIS  SECTION NOT SUBJECT TO THE 12 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (I)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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
 MILLION TWO HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY  THOU-
 SAND  DOLLARS.  PROVIDED,  HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY TO
 TAXPAYERS WHO ARE NOT SUBJECT TO THE 12 PERCENT TAX RATE.
   (K) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (B)  OF  THIS  SECTION NOT SUBJECT TO THE 13 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (J)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 FIVE
 MILLION FIVE HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOU-
 SAND DOLLARS. PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL  NOT  APPLY  TO
 TAXPAYERS WHO ARE NOT SUBJECT TO THE 13 PERCENT TAX RATE.
   (L)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION

 A. 4604                            18
 
 (B) OF THIS SECTION NOT SUBJECT TO THE 14 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (K)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 ELEV-
 EN  MILLION  DOLLARS  AND  THE  DENOMINATOR  IS  FIFTY THOUSAND DOLLARS.
 PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO
 ARE NOT SUBJECT TO THE 14 PERCENT TAX RATE.
   (M)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (B) OF THIS SECTION NOT SUBJECT TO THE 15 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (B) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (L)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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  TEN  MILLION  DOLLARS  AND  THE  DENOMINATOR  IS FIFTY THOUSAND
 DOLLARS. PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY TO TAXPAY-
 ERS WHO ARE NOT SUBJECT TO THE 15 PERCENT TAX RATE.
   (N) Provided, however, the total tax prior to the application  of  any
 tax  credits  shall  not exceed the highest rate of tax set forth in the
 tax tables in subsection (b) of this section multiplied by  the  taxpay-
 er's taxable income.
   §  6. Subparagraphs (A), (B), (C) and (D) of paragraph 3 of subsection
 (d-1) of section 601 of the tax law, as added by section 7 of part A  of
 chapter 56 of the laws of 2011, subparagraph (C) as amended by section 6
 of  part  P  of  chapter  59 of the laws of 2019, are amended to read as
 follows:
   (A) The tax table benefit is the difference between (i) the amount  of
 taxable income set forth in the tax table in paragraph one of subsection
 (c)  of  this section not subject to the [6.65] 6.33 percent rate of tax
 for the taxable year multiplied by such rate and (ii) the dollar denomi-
 nated tax for such amount of taxable income set forth in the  tax  table
 applicable  to  the  taxable  year in paragraph one of subsection (c) of
 this section.  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 thousand dollars and
 the denominator is fifty thousand dollars.
   (B) The tax table benefit is the difference between (i) the amount  of
 taxable income set forth in the tax table in paragraph one of subsection
 (c)  of this section not subject to the 6.85 percent rate of tax for the
 taxable year multiplied by such rate and (ii) the dollar denominated tax
 for such amount of taxable income set forth in the tax table  applicable
 to  the  taxable year in paragraph one of subsection (c) of this section
 less the tax table benefit in subparagraph (A) of  this  paragraph.  The
 fraction  for this subparagraph 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 FIFTEEN thousand FOUR
 HUNDRED dollars and the denominator is fifty thousand dollars. Provided,
 however,  this  subparagraph  shall  not  apply to taxpayers who are not
 subject to the 6.85 percent tax rate.

 A. 4604                            19
 
   (C) The tax table benefit is the difference between (i) the amount  of
 taxable income set forth in the tax table in paragraph one of subsection
 (c)  of  this  section not subject to the [8.82] 7.5 percent rate of tax
 for the taxable year multiplied by such rate and (ii) the dollar denomi-
 nated  tax  for such amount of taxable income set forth in the tax table
 applicable to the taxable year in paragraph one  of  subsection  (c)  of
 this section less the sum of the tax table benefits in subparagraphs (A)
 and  (B)  of  this  paragraph.  The  fraction  for  this subparagraph 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 million] THREE HUNDRED THOUSAND dollars and the denomina-
 tor is fifty thousand dollars. [This subparagraph shall  apply  only  to
 taxable  years  beginning on or after January first, two thousand twelve
 and before January first, two thousand twenty-five]  PROVIDED,  HOWEVER,
 THIS  SUBPARAGRAPH  SHALL  NOT APPLY TO TAXPAYERS WHO ARE NOT SUBJECT TO
 THE 7.5 PERCENT TAX RATE.
   (D) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C)  OF  THIS  SECTION  NOT SUBJECT TO THE 8 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A), (B) AND  (C)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 FOUR
 HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND  DOLLARS.
 PROVIDED,  HOWEVER,  THIS  SUBPARAGRAPH SHALL NOT APPLY TO TAXPAYERS WHO
 ARE NOT SUBJECT TO THE 8 PERCENT TAX RATE.
   (E) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C)  OF  THIS SECTION NOT SUBJECT TO THE 8.5 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (D)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 FIVE
 HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND  DOLLARS.
 PROVIDED,  HOWEVER,  THIS  SUBPARAGRAPH SHALL NOT APPLY TO TAXPAYERS WHO
 ARE NOT SUBJECT TO THE 8.5 PERCENT TAX RATE.
   (F) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C)  OF  THIS  SECTION  NOT SUBJECT TO THE 9 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (E)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 SIX
 HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND  DOLLARS.
 PROVIDED,  HOWEVER,  THIS  SUBPARAGRAPH SHALL NOT APPLY TO TAXPAYERS WHO
 ARE NOT SUBJECT TO THE 9 PERCENT TAX RATE.

 A. 4604                            20
 
   (G) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C)  OF  THIS SECTION NOT SUBJECT TO THE 9.5 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (F)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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 SEVEN
 HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND  DOLLARS.
 PROVIDED,  HOWEVER,  THIS  SUBPARAGRAPH SHALL NOT APPLY TO TAXPAYERS WHO
 ARE NOT SUBJECT TO THE 9.5 PERCENT TAX RATE.
   (H) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C)  OF  THIS  SECTION NOT SUBJECT TO THE 10 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (G)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 EIGHT
 HUNDRED  THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.
 PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO
 ARE NOT SUBJECT TO THE 10 PERCENT TAX RATE.
   (I)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C) OF THIS SECTION NOT SUBJECT TO THE 11 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (H)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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  NINE
 HUNDRED  THOUSAND DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.
 PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO
 ARE NOT SUBJECT TO THE 11 PERCENT TAX RATE.
   (J)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C) OF THIS SECTION NOT SUBJECT TO THE 12 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (I)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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
 MILLION DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS. PROVIDED,
 HOWEVER,  THIS  SUBPARAGRAPH  SHALL  NOT  APPLY TO TAXPAYERS WHO ARE NOT
 SUBJECT TO THE 12 PERCENT TAX RATE.
   (K) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C)  OF  THIS  SECTION NOT SUBJECT TO THE 13 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX

 A. 4604                            21
 
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (J)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 FIVE
 MILLION DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS. PROVIDED,
 HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY  TO  TAXPAYERS  WHO  ARE  NOT
 SUBJECT TO THE 13 PERCENT TAX RATE.
   (L)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C) OF THIS SECTION NOT SUBJECT TO THE 14 PERCENT RATE OF  TAX  FOR  THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR  SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE
 TO THE TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF  THIS  SECTION
 LESS  THE  SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A) THROUGH (K)
 OF THIS PARAGRAPH. THE FRACTION FOR THIS  SUBPARAGRAPH  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  TEN
 MILLION DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS. PROVIDED,
 HOWEVER,  THIS  SUBPARAGRAPH  SHALL  NOT  APPLY TO TAXPAYERS WHO ARE NOT
 SUBJECT TO THE 14 PERCENT TAX RATE.
   (M) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN PARAGRAPH ONE OF SUBSECTION
 (C)  OF  THIS  SECTION NOT SUBJECT TO THE 15 PERCENT RATE OF TAX FOR THE
 TAXABLE YEAR MULTIPLIED BY SUCH RATE AND (II) THE DOLLAR DENOMINATED TAX
 FOR SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE
 TO  THE  TAXABLE YEAR IN PARAGRAPH ONE OF SUBSECTION (C) OF THIS SECTION
 LESS THE SUM OF THE TAX TABLE BENEFIT IN SUBPARAGRAPHS (A)  THROUGH  (L)
 OF  THIS  PARAGRAPH.  THE  FRACTION FOR THIS SUBPARAGRAPH 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 MILLION DOLLARS AND THE DENOMINATOR IS FIFTY  THOUSAND  DOLLARS.
 PROVIDED,  HOWEVER,  THIS  SUBPARAGRAPH SHALL NOT APPLY TO TAXPAYERS WHO
 ARE NOT SUBJECT TO THE 15 PERCENT TAX RATE.
   (N) Provided, however, the total tax prior to the application  of  any
 tax  credits  shall  not exceed the highest rate of tax set forth in the
 tax tables in subsection (c) of this section multiplied by  the  taxpay-
 er's taxable income.
   § 7. This act shall take effect immediately.

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Sponsored By

MEEKS

Archive: Last Bill Status - In Assembly Committee

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co-Sponsors

Linda Rosenthal

Harvey Epstein

Karines Reyes

Jessica Gonzalez-Rojas

2021-A4604 (ACTIVE) - Details

2021-A4604 (ACTIVE) - Summary

2021-A4604 (ACTIVE) - Bill Text download pdf

Comments