Loading chat...
NY A05192
Bill
Status
Introduced
2/13/2015
Primary Sponsor
Brian Kolb
Click for details
AI Summary
- Modifies New York State personal income tax brackets for single filers, married filing jointly, and married filing separately, effective for tax years beginning after 2017
- Reduces the highest marginal tax rate from 6.85% to 6.45% for income over $40,000 (single), $30,000 (married filing jointly), and $20,000 (married filing separately)
- Adds two new higher tax brackets at 6.65% and 6.85% for top earners, with the 6.85% rate applying to income over $300,000 (single), $250,000 (married filing jointly), and $200,000 (married filing separately)
- Extends cost of living adjustments for tax brackets through tax year 2017 and eliminates an earlier repeal date
- Repeals subsection (f) of section 614 and subsection (d-2) of section 601 of the tax law, effective January 1, 2018
Legislative Description
Relates to the personal income tax, cost of living adjustment and standard deduction.
Last Action
held for consideration in ways and means
6/15/2016
Committee Referrals
Ways and Means2/13/2015
Full Bill Text
No bill text available