Assembly Bill A2282

2025-2026 Legislative Session

Relates to conducting studies on personal income tax brackets and the corporate franchise tax

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Current 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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2025-A2282 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Taxation
Versions Introduced in Other Legislative Sessions:
2015-2016: A7614
2017-2018: A6013
2019-2020: A5850
2021-2022: A7142
2023-2024: A4791

2025-A2282 (ACTIVE) - Summary

Relates to conducting studies on personal income tax brackets and the corporate franchise tax.

2025-A2282 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2282
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 16, 2025
                                ___________
 
 Introduced  by M. of A. SMULLEN -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT creating a tax simplification and fairness study to look  at  the
   personal income tax brackets and the corporate franchise tax
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The commissioner of taxation and finance  shall  conduct  a
 study  to  examine  the  corresponding  income  tax  brackets and dollar
 amounts that could be  enacted  if  a  proportionate  reduction  in  the
 personal  income  tax  bracket and dollar amounts as provided in section
 601 of the tax law for taxable years beginning  after  2013  and  before
 2025  and for taxable years beginning after 2027, if all of the personal
 income tax credits provided in section 606 of the tax  law  were  elimi-
 nated  and  personal  income  tax receipts were forecasted to be revenue
 neutral based on current law.
   § 2. The commissioner of taxation and finance shall conduct a study to
 examine the corresponding reduction in the imposition of  the  corporate
 franchise  tax that could be enacted if a proportionate reduction in the
 imposition of the corporate franchise tax as provided  by  sections  209
 and  210 of the tax law, if all the credits provided in section 210-B of
 the tax law were eliminated and the  corporate  franchise  tax  receipts
 were forecasted to be revenue neutral based on current law.
   §  3.  The  commissioner  of  taxation and finance shall report on the
 results of the studies in section one and section two within one hundred
 eighty days after this act shall have become a law.
   § 4. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05840-01-5

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