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NY S07165
Bill
Status
6/20/2012
Primary Sponsor
Greg Ball
Click for details
AI Summary
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Replaces the flat 0.34% tax rate on self-employment earnings with a tiered rate structure based on income thresholds for the metropolitan commuter transportation mobility tax (MCTD)
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Imposes 0.11% tax rate on net self-employment earnings attributable to the MCTD between $250,000 and $300,000 annually
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Imposes 0.23% tax rate on net self-employment earnings attributable to the MCTD between $300,000 and $350,000 annually
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Imposes 0.34% tax rate on net self-employment earnings attributable to the MCTD exceeding $350,000 annually
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Takes effect July 1 following the date the bill becomes law
Legislative Description
Limits imposition of the metropolitan commuter transportation tax on self-employment earnings to annual earnings over $250,000, and establishes tax rates for the taxation of such earnings.
Last Action
referred to ways and means
6/20/2012