NY State Assembly Bill 2019-A10419

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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 11, 2020	referred to ways and means

2019-A10419 (ACTIVE) - Details

Current Committee:: Assembly Ways And Means
Law Section:: Tax Law
Laws Affected:: Amd §1304, Tax L; amd §11-1701, NYC Ad Cd
Versions Introduced in 2021-2022 Legislative Session:: A3312

2019-A10419 (ACTIVE) - Summary

Relates to rates of tax for personal income in the city of New York; provides personal income tax rates for city taxable income between $500,000 and $100,000,000.

2019-A10419 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10419
 
                           I N  A S S E M B L Y
 
                               May 11, 2020
                                ___________
 
 Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Epstein) --
   read once and referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law and the administrative code of the  city  of
   New  York, in relation to rates of tax for personal income in the city
   of New York
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Paragraphs 1, 2 and 3 of subsection (a) of section 1304 of
 the tax law, as amended by section 3 of part C of chapter 59 of the laws
 of 2017, are amended to read as follows:
   (1) Resident married individuals filing  joint  returns  and  resident
 surviving  spouses.  The tax under this section for each taxable year on
 the city taxable income of every city resident  married  individual  who
 makes  a  single  return jointly with his or her spouse under subsection
 (b) of section thirteen hundred six of this  article  and  on  the  city
 taxable  income  of every city resident surviving spouse shall be deter-
 mined in accordance with the following tables:
 
   (A) For taxable years beginning after two thousand [sixteen] TWENTY:
 IF THE CITY TAXABLE INCOME IS:         THE TAX IS:
 NOT OVER $21,600                       2.7% OF THE CITY TAXABLE INCOME
 OVER $21,600 BUT NOT                   $583 PLUS 3.3% OF EXCESS
 OVER $45,000                             OVER $21,600
 OVER $45,000 BUT NOT                   $1,355 PLUS 3.35% OF EXCESS
 OVER $90,000                             OVER $45,000
 OVER $90,000 BUT NOT                   $2,863 PLUS 3.4% OF EXCESS
 OVER $500,000                          OVER $90,000
 OVER $500,000 BUT NOT                  $16,803 PLUS 4.0% OF EXCESS
 OVER $1,000,000                        OVER $1,000,000
 OVER $1,000,000 BUT NOT                $36,803 PLUS 5.0% OF EXCESS
 OVER $10,000,000                        OVER $10,000,000
 OVER $10,000,000 BUT NOT               $486,803 PLUS 6.0% OF EXCESS
 OVER $100,000,000                       OVER $100,000,000
 OVER $100,000,000                      $6,786,803 PLUS 7.0% OF EXCESS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD16214-01-0

 A. 10419                            2
 
                                          OVER $100,000,000
   (B) FOR TAXABLE YEAR BEGINNING AFTER TWO THOUSAND SIXTEEN AND BEFORE
 TWO THOUSAND TWENTY-ONE:

 If the city taxable income is:         The tax is:
 Not over $21,600                       2.7% of the city taxable income
 Over $21,600 but not                   $583 plus 3.3% of excess
 over $45,000                             over $21,600
 Over $45,000 but not                   $1,355 plus 3.35% of excess
 over $90,000                             over $45,000
 Over $90,000                           $2,863 plus 3.4% of excess
                                          over $90,000
 
   [(B)]  (C)  For taxable year beginning after two thousand fourteen and
 before two thousand seventeen:
 
 If the city taxable income is:         The tax is:
 Not over $21,600                       2.55% of the city taxable income
 Over $21,600 but not                   $551 plus 3.1 of excess
 over $45,000                             over $21,600
 Over $45,000 but not                   $1,276 plus 3.15% of excess
 over $90,000                             over $45,000
 Over $90,000 but not                   $2,694 plus 3.2% of excess
                                          over $90,000
 Over $500,000                          $16,803 plus 3.4% of excess
                                          over $500,000
 
   [(C)] (D) For taxable years beginning  after  two  thousand  nine  and
 before two thousand fifteen:
 If the city taxable income is:         The tax is:
 Not over $21,600                       2.55% of the city taxable income
 Over $21,600 but not                   $551 plus 3.1% of excess
 over $45,000                             over $21,600
 Over $45,000 but not                   $1,276 plus 3.15% of excess
 over $90,000                             over $45,000
 Over $90,000 but not                   $2,694 plus 3.2% of excess
 over $500,000                            over $90,000
 Over $500,000                          $15,814 plus 3.4% of excess
                                          over $500,000
 
   (2)  Resident heads of households. The tax under this section for each
 taxable year on the city taxable income of every city resident head of a
 household shall be determined in accordance with the following tables:
   (A) For taxable years beginning after two thousand [sixteen] TWENTY:
 
 IF THE CITY TAXABLE INCOME IS:         THE TAX IS:
 NOT OVER $14,400                       2.7% OF THE CITY TAXABLE INCOME
 OVER $14,400 BUT NOT                   $389 PLUS 3.3% OF EXCESS
 OVER $30,000                             OVER $14,400
 OVER $30,000 BUT NOT                   $904 PLUS 3.35% OF EXCESS
 OVER $60,000                             OVER $30,000
 OVER $60,000 BUT NOT                   $1,909 PLUS 3.4% OF EXCESS
 OVER $500,000                            OVER $60,000
 OVER $500,000 BUT NOT                  $16,869 PLUS 4.0% OF EXCESS
 OVER $1,000,000                          OVER $1,000,000
 OVER $1,000,000 BUT NOT                $36,869 PLUS 5.0% OF EXCESS

 A. 10419                            3
 
 OVER $10,000,000                         OVER $10,000,000
 OVER $10,000,000 BUT NOT               $486,869 PLUS 6.0% OF EXCESS
 OVER $100,000,000                        OVER $100,000,000
 OVER $100,000,000                      $5,886,869 PLUS 7.0% OF EXCESS
                                          OVER $100,000,000
   (B)  FOR  TAXABLE YEAR BEGINNING AFTER TWO THOUSAND SIXTEEN AND BEFORE
 TWO THOUSAND TWENTY-ONE:
 
 If the city taxable income is:         The tax is:
 Not over $14,400                       2.7% of the city taxable income
 Over $14,400 but not                   $389 plus 3.3% of excess
 over $30,000                             over $14,400
 Over $30,000 but not                   $904 plus 3.35% of excess
 over $60,000                             over $30,000
 Over $60,000                           $1,909 plus 3.4% of excess
                                          over $60,000
 
   [(B)] (C) For taxable years beginning after two thousand fourteen  and
 before two thousand seventeen:
 
 If the city taxable income is:           The tax is:
 Not over $14,400                         2.55% of the city taxable income
 Over $14,400 but not                     $367 plus 3.1% of excess
 over $30,000                              over $14,400
 Over $30,000 but not                     $851 plus 3.15% of excess
 over $60,000                              over $30,000
 Over $60,000 but not                     $1,796 plus 3.2% of excess
 over $500,000                             over $60,000
 Over $500,000                            $16,869 plus 3.4% of excess
                                           over $500,000

   [(C)]  (D)  For  taxable  years  beginning after two thousand nine and
 before two thousand fifteen:
 
 If the city taxable income is:           The tax is:
 Not over $14,400                         2.55% of the city taxable income
 Over $14,400 but not                     $367 plus 3.1% of excess
 over $30,000                              over $14,400
 Over $30,000 but not                     $851 plus 3.15% of excess
 over $60,000                              over $30,000
 Over $60,000 but not                     $1,796 plus 3.2% of excess
 over $500,000                             over $60,000
 Over $500,000                            $15,876 plus 3.4% of excess
                                           Over $500,000
 
   (3)  Resident  unmarried  individuals,  resident  married  individuals
 filing  separate  returns and resident estates and trusts. The tax under
 this section for each taxable year on the city taxable income  of  every
 city  resident  individual who is not a city resident married individual
 who makes  a  single  return  jointly  with  his  or  her  spouse  under
 subsection (b) of section thirteen hundred six of this article or a city
 resident  head  of household or a city resident surviving spouse, and on
 the city taxable income of every city resident estate and trust shall be
 determined in accordance with the following tables:
 
   (A) For taxable years beginning after two thousand [sixteen] TWENTY:

 A. 10419                            4
 
 IF THE CITY TAXABLE INCOME IS:           THE TAX IS:
 NOT OVER $12,000                         2.7% OF THE CITY TAXABLE INCOME
 OVER $12,000 BUT NOT                     $324 PLUS 3.3% OF EXCESS
 OVER $25,000                             OVER $12,000
 OVER $25,000 BUT NOT                     $753 PLUS 3.35% OF EXCESS
 OVER $50,000                             OVER $25,000
 OVER $50,000 BUT NOT                     $1,591 PLUS 3.4% OF EXCESS
 OVER $500,000                            OVER $50,000
 OVER $500,000 BUT NOT                    $16,891 PLUS 4.0% OF EXCESS
 OVER $1,000,000                          OVER $1,000,000
 OVER $1,000,000 BUT NOT                  $36,891 PLUS 5.0% OF EXCESS
 OVER $10,000,000                         OVER $10,000,000
 OVER $10,000,000 BUT NOT                 $486,891 PLUS 6.0% OF EXCESS
 OVER $100,000,000                        OVER $100,000,000
 OVER $100,000,000                        $5,886,891 PLUS 7.0% OF EXCESS
                                          OVER $100,000,000
 
   (B)  FOR  TAXABLE YEAR BEGINNING AFTER TWO THOUSAND SIXTEEN AND BEFORE
 TWO THOUSAND TWENTY-ONE:
 
 If the city taxable income is:           The tax is:
 Not over $12,000                         2.7% of the city taxable income
 Over $12,000 but not                     $324 plus 3.3% of excess
 over $25,000                              over $12,000
 Over $25,000 but not                     $753 plus 3.35% of excess
 over $50,000                              over $25,000
 Over $50,000                             $1,591 plus 3.4% of excess
                                          over $50,000
 
   [(B)] (C) For taxable years beginning after two thousand fourteen  and
 before two thousand seventeen:
 
 If the city taxable income is:           The tax is:
 Not over $12,000                         2.55% of the city taxable income
 Over $12,000 but not                     $306 plus 3.1% of excess
 over $25,000                              over $12,000
 Over $25,000 but not                     $709 plus 3.15% of excess
 over $50,000                              over $25,000
 Over $50,000 but not                     $1,497 plus 3.2% of excess
 over $500,000                            over $50,000
 Over $500,000                            $16,891 plus 3.4%
                                          of excess over $500,000
   [(C)]  (D)  For  taxable  years  beginning after two thousand nine and
 before two thousand fifteen:
 
 If the city taxable income is:           The tax is:
 Not over $12,000                         2.55% of the city taxable income
 Over $12,000 but not                     $306 plus 3.1% of excess
 over $25,000                              over $12,000
 Over $25,000 but not                     $709 plus 3.15% of excess
 over $50,000                              over $25,000
 Over $50,000 but not                     $1,497 plus 3.2% of excess
 over $500,000                            over $50,000
 Over $500,000                            $15,897 plus 3.4%
                                          of excess over $500,000

 A. 10419                            5
 
   § 2. Paragraphs 1, 2 and 3 of subdivision (a) of  section  11-1701  of
 the administrative code of the city of New York, as amended by section 4
 of  part  C  of  chapter  59 of the laws of 2017, are amended to read as
 follows:
   (1)  Resident  married  individuals  filing joint returns and resident
 surviving spouses. The tax under this section for each taxable  year  on
 the  city  taxable  income of every city resident married individual who
 makes a single return jointly with his or her spouse  under  subdivision
 (b) of section 11-1751 of this chapter and on the city taxable income of
 every  city  resident surviving spouse shall be determined in accordance
 with the following tables:
 
 (A) For taxable years beginning after two thousand [sixteen] TWENTY:

 IF THE CITY TAXABLE INCOME IS:         THE TAX IS:
 NOT OVER $21,600                       2.7% OF THE CITY TAXABLE INCOME
 OVER $21,600 BUT NOT                   $583 PLUS 3.3% OF EXCESS
 OVER $45,000                            OVER $21,600
 OVER $45,000 BUT NOT                   $1,355 PLUS 3.35% OF EXCESS
 OVER $90,000                            OVER $45,000
 OVER $90,000 BUT NOT                   $2,863 PLUS 3.4% OF EXCESS
 OVER $500,000                           OVER $90,000
 OVER $500,000 BUT NOT                  $16,803 PLUS 4.0% OF EXCESS
 OVER $1,000,000                         OVER $1,000,000
 OVER $1,000,000 BUT NOT                $36,803 PLUS 5.0% OF EXCESS
 OVER $10,000,000                        OVER $10,000,000
 OVER $10,000,000 BUT NOT               $486,803 PLUS 6.0% OF EXCESS
 OVER $100,000,000                       OVER $100,000,000
 OVER $100,000,000                      $6,786,803 PLUS 7.0% OF EXCESS
                                         OVER $100,000,000
 (B) FOR TAXABLE YEAR BEGINNING AFTER TWO THOUSAND SIXTEEN AND BEFORE TWO
 THOUSAND TWENTY-ONE:
 
 If the city taxable income is:         The tax is:
 Not over $21,600                       2.7% of the city taxable income
 Over $21,600 but not                   $583 plus 3.3% of excess
 over $45,000                           over $21,600
 Over $45,000 but not                   $1,355 plus 3.35% of excess
 over $90,000                           over $45,000
 Over $90,000                           $2,863 plus 3.4% of excess
                                        over $90,000
   [(B)] (C) For taxable years beginning after two thousand fourteen  and
 before two thousand seventeen:
 
 If the city taxable income is:         The tax is:
 Not over $21,600                       2.55% of the city taxable income
 Over $21,600 but not                   $551 plus 3.1% of excess
 over $45,000                            over $21,600
 Over $45,000 but not                   $1,276 plus 3.15% of excess
 over $90,000                            over $45,000
 Over $90,000 but not                   $2,694 plus 3.2% of excess
 over $500,000                           over $90,000
 Over $500,000                          $16,803 plus 3.4% of excess
                                         over $500,000
   [(C)]  (D)  For  taxable  years  beginning after two thousand nine and
 before two thousand fifteen:

 A. 10419                            6
 
 If the city taxable income is:         The tax is:
 Not over $21,600                       2.55% of the city taxable income
 Over $21,600 but not                   $551 plus 3.1% of excess
 over $45,000                            over $21,600
 Over $45,000 but not                   $1,276 plus 3.15% of excess
 over $90,000                            over $45,000
 Over $90,000 but not                   $2,694 plus 3.2% of excess
 over $500,000                           over $90,000
 Over $500,000                          $15,814 plus 3.4% of excess
                                         over $500,000
 
   (2)  Resident heads of households. The tax under this section for each
 taxable year on the city taxable income of every city resident head of a
 household shall be determined in accordance with the following tables:
   (A) For taxable years beginning after two thousand [sixteen] TWENTY:
 IF THE CITY TAXABLE INCOME IS:         THE TAX IS:
 NOT OVER $14,400                       2.7% OF THE CITY TAXABLE INCOME
 OVER $14,400 BUT NOT                   $389 PLUS 3.3% OF EXCESS
 OVER $30,000                             OVER $14,400
 OVER $30,000 BUT NOT                   $904 PLUS 3.35% OF EXCESS
 OVER $60,000                             OVER $30,000
 OVER $60,000 BUT NOT                   $1,909 PLUS 3.4% OF EXCESS
 OVER $500,000                            OVER $60,000
 OVER $500,000 BUT NOT                  $16,869 PLUS 4.0% OF EXCESS
 OVER $1,000,000                          OVER $1,000,000
 OVER $1,000,000 BUT NOT                $36,869 PLUS 5.0% OF EXCESS
 OVER $10,000,000                         OVER $10,000,000
 OVER $10,000,000 BUT NOT               $486,869 PLUS 6.0% OF EXCESS
 OVER $100,000,000                        OVER $100,000,000
 OVER $100,000,000                      $5,886,869 PLUS 7.0% OF EXCESS
                                          OVER $100,000,000
   (B) FOR TAXABLE YEAR BEGINNING AFTER TWO THOUSAND SIXTEEN  AND  BEFORE
 TWO THOUSAND TWENTY-ONE:
 
 If the city taxable income is:         The tax is:
 Not over $14,400                       2.7% of the city taxable income
 Over $14,400 but not                   $389 plus 3.3% of excess
 over $30,000                           over $14,400
 Over $30,000 but not                   $904 plus 3.35% of excess
 over $60,000                           over $30,000
 Over $60,000                           $1,909 plus 3.4% of excess
                                        over $60,000
   [(B)]  (C) For taxable years beginning after two thousand fourteen and
 before two thousand seventeen:
 
 If the city taxable income is:         The tax is:
 Not over $14,400                       2.55% of the city taxable income
 Over $14,400 but not                   $367 plus 3.1% of excess
 over $30,000                            over $14,400
 Over $30,000 but not                   $851 plus 3.15% of excess
 over $60,000                            over $30,000
 Over $60,000 but not                   $1,796 plus 3.2% of excess
 over $500,000                           over $60,000
 Over $500,000                          $16,869 plus 3.4% of excess
                                         over $500,000

 A. 10419                            7
 
   [(C)] (D) For taxable years beginning  after  two  thousand  nine  and
 before two thousand fifteen:
 
 If the city taxable income is:         The tax is:
 Not over $14,400                       2.55% of the city taxable income
 Over $14,400 but not                   $367 plus 3.1% of excess
 over $30,000                            over $14,400
 Over $30,000 but not                   $851 plus 3.15% of excess
 over $60,000                            over $30,000
 Over $60,000 but not                   $1,796 plus 3.2% of excess
 over $500,000                           over $60,000
 Over $500,000                          $15,876 plus 3.4% of excess
                                         over $500,000
 
   (3)  Resident  unmarried  individuals,  resident  married  individuals
 filing separate returns and resident estates and trusts. The  tax  under
 this  section  for each taxable year on the city taxable income of every
 city resident individual who is not a married  individual  who  makes  a
 single  return  jointly  with his or her spouse under subdivision (b) of
 section 11-1751 of this chapter or a city resident head of  a  household
 or  a  city resident surviving spouse, and on the city taxable income of
 every city resident estate and trust shall be determined  in  accordance
 with the following tables:
 
 (A) For taxable years beginning after two thousand [sixteen] TWENTY:
 
 IF THE CITY TAXABLE INCOME IS:         THE TAX IS:
 NOT OVER $12,000                       2.7% OF THE CITY TAXABLE INCOME
 OVER $12,000 BUT NOT                   $324 PLUS 3.3% OF EXCESS
 OVER $25,000                             OVER $12,000
 OVER $25,000 BUT NOT                   $753 PLUS 3.35% OF EXCESS
 OVER $50,000                             OVER $25,000
 OVER $50,000 BUT NOT                   $1,591 PLUS 3.4% OF EXCESS
 OVER $500,000                            OVER $50,000
 OVER $500,000 BUT NOT                  $16,891 PLUS 4.0% OF EXCESS
 OVER $1,000,000                          OVER $1,000,000
 OVER $1,000,000 BUT NOT                $36,891 PLUS 5.0% OF EXCESS
 OVER $10,000,000                         OVER $10,000,000
 OVER $10,000,000 BUT NOT               $486,891 PLUS 6.0% OF EXCESS
 OVER $100,000,000                        OVER $100,000,000
 OVER $100,000,000                      $5,886,891 PLUS 7.0% OF EXCESS
                                          OVER $100,000,000
   (B)  FOR  TAXABLE YEAR BEGINNING AFTER TWO THOUSAND SIXTEEN AND BEFORE
 TWO THOUSAND TWENTY-ONE:
 
 If the city taxable income is:         The tax is:
 Not over $12,000                       2.7% of the city taxable income
 Over $12,000 but not                   $324 plus 3.3% of excess
 over $25,000                            over $12,000
 Over $25,000 but not                   $753 plus 3.35% of excess
 over $50,000                            over $25,000
 Over $50,000                           $1,591 plus 3.4% of excess
                                         over $50,000
   [(B)] (C) For taxable years beginning after two thousand fourteen  and
 before two thousand seventeen:

 A. 10419                            8
 
 If the city taxable income is:         The tax is:
 Not over $12,000                       2.55% of the city taxable income
 Over $12,000 but not                   $306 plus 3.1% of excess
 over $25,000                            over $12,000
 Over $25,000 but not                   $709 plus 3.15% of excess
 over $50,000                            over $25,000
 Over $50,000 but not                   $1,497 plus 3.2% of excess
 over $500,000                           over $50,000
 Over $500,000                          $16,891 plus 3.4% of excess
                                         over $500,000
 
   [(C)]  (D)  For  taxable  years  beginning after two thousand nine and
 before two thousand fifteen:
 
 If the city taxable income is:         The tax is:
 Not over $12,000                       2.55% of the city taxable income
 Over $12,000 but not                   $306 plus 3.1% of excess
 over $25,000                            over $12,000
 Over $25,000 but not                   $709 plus 3.15% of excess
 over $50,000                            over $25,000
 Over $50,000 but not                   $1,497 plus 3.2% of excess
 over $500,000                           over $50,000
 Over $500,000                          $15,897 plus 3.4% of excess
                                         over $500,000
 
   § 3. The commissioner of taxation and  finance  shall  take  steps  to
 publicize  the necessary adjustments to estimated tax and, to the extent
 reasonably possible, to inform the taxpayer of the tax liability changes
 made by this act.
   § 4. This act shall take effect immediately.

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Assembly Bill A10419

Sponsored By

Archive: Last Bill Status - In Assembly Committee

2019-A10419 (ACTIVE) - Details

2019-A10419 (ACTIVE) - Summary

2019-A10419 (ACTIVE) - Bill Text download pdf

Comments

Assembly Bill A10419

Share this bill

Sponsored By

EPSTEIN

Archive: Last Bill Status - In Assembly Committee

2019-A10419 (ACTIVE) - Details

2019-A10419 (ACTIVE) - Summary

2019-A10419 (ACTIVE) - Bill Text download pdf

Comments