Senate Bill S1808A

2021-2022 Legislative Session

Relates to accelerating the change in personal income tax rates

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue 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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Bill Amendments

co-Sponsors

2021-S1808 - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §601, Tax L
Versions Introduced in 2019-2020 Legislative Session:
S7365

2021-S1808 - Summary

Accelerates the change in personal income tax rates.

2021-S1808 - Sponsor Memo

2021-S1808 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1808
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 15, 2021
                                ___________
 
 Introduced  by Sens. JORDAN, AKSHAR, BORRELLO, BOYLE, GALLIVAN, HELMING,
   O'MARA, ORTT, TEDISCO -- read twice  and  ordered  printed,  and  when
   printed to be committed to the Committee on Budget and Revenue
 
 AN  ACT  to amend the tax law, in relation to accelerating the change in
   personal income tax rates

   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                            over  $323,200
 Over $2,155,350                       $144,905 plus 8.82% of excess over
                                       $2,155,350

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

co-Sponsors

2021-S1808A (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §601, Tax L
Versions Introduced in 2019-2020 Legislative Session:
S7365

2021-S1808A (ACTIVE) - Summary

Accelerates the change in personal income tax rates.

2021-S1808A (ACTIVE) - Sponsor Memo

2021-S1808A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1808--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 15, 2021
                                ___________
 
 Introduced  by Sens. JORDAN, AKSHAR, BORRELLO, BOYLE, GALLIVAN, HELMING,
   O'MARA, ORTT, TEDISCO, WEIK -- read twice  and  ordered  printed,  and
   when printed to be committed to the Committee on Budget and Revenue --
   recommitted  to the Committee on Budget and Revenue 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 accelerating the change in
   personal income tax rates
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Clauses (vii) and (viii) of subparagraph (B) of paragraph 1
 of subsection (a) of section 601 of the tax law, as amended by section 1
 of  part  A  of  chapter  59 of the laws of 2021, are amended to read as
 follows:
   (vii) For taxable years beginning in two thousand [twenty-four]  TWEN-
 TY-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 5.61% 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 excess over
 $2,155,350                            $323,200
 Over $2,155,350 but not over          $144,047 plus 9.65% of excess over
 $5,000,000                            $2,155,350
 Over $5,000,000 but not over          $418,555 plus 10.30% of excess over
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01673-02-2
              

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