Legislation

Search OpenLegislation Statutes
This entry was published on 2020-04-24
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 1304-B
Additional tax
Tax (TAX) CHAPTER 60, ARTICLE 30
§ 1304-B. Additional tax. (a) (1) In addition to any other taxes
authorized by this article, any city imposing such taxes is hereby
authorized and empowered to adopt and amend local laws imposing in any
such city for each taxable year beginning after nineteen hundred ninety
but before two thousand twenty-four, an additional tax on the city
taxable income of every city resident individual, estate and trust, to
be calculated for each taxable year as follows: (i) for each taxable
year beginning after nineteen hundred ninety but before nineteen hundred
ninety-nine, at the rate of fourteen percent of the sum of the taxes for
each such taxable year determined pursuant to section thirteen hundred
four and section thirteen hundred four-A of this article; and (ii) for
each taxable year beginning after nineteen hundred ninety-eight, at the
rate of fourteen percent of the tax for such taxable year determined
pursuant to such section thirteen hundred four.

(2) Notwithstanding paragraph one of this subsection, for each taxable
year beginning after nineteen hundred ninety-nine but before two
thousand twenty-four, any city imposing such additional tax may by local
law impose such tax at a rate that is less than fourteen percent and may
impose such tax at more than one rate depending upon the filing status
and city taxable income of such city resident individual, estate or
trust.

(3) A local law enacted pursuant to paragraph two of this subsection
shall be applicable with respect to any taxable year only if it has been
enacted on or before July thirty-first of such year. A certified copy of
such local law shall be mailed by registered mail to the department at
its office in Albany within fifteen days of its enactment. However, the
department may allow additional time for such certified copy to be
mailed if it deems such action to be consistent with its duties under
this article.

(b) The additional tax imposed pursuant to the authority of this
section shall be administered, collected and distributed by the
commissioner of taxation and finance in the same manner as the other
taxes imposed pursuant to the authority of this article, and all of the
provisions of this article, including section thirteen hundred ten of
this article, shall apply to the additional tax authorized by this
section.