A3418A-2011 Actions

• May 17, 2012: print number 3418a
• May 17, 2012: amend (t) and recommit to ways and means
• Jan 4, 2012: referred to ways and means
• Jan 25, 2011: referred to ways and means

A3418A-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 3418--A
 2011-2012 Regular Sessions
 I N  ASSEMBLY
 January 25, 2011
 
 Introduced  by  M. of A. SCHIMMINGER, MORELLE, PEOPLES-STOKES, BENEDETTO
 -- Multi-Sponsored by -- M. of A. ABBATE,  BOYLAND,  GUNTHER,  REILLY,
 J. RIVERA,  WEISENBERG  --  read once and referred to the Committee on
 Ways and Means -- recommitted to the Committee on Ways  and  Means  in
 accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said  commit
 tee
 AN  ACT  to amend the tax law, in relation to personal income tax rates;
 and to repeal paragraphs 1 and 1-a of subsections (a), (b) and (c)  of
 section 601 of the tax law, relating thereto
 

THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section 1. Paragraphs 1 and 1-a of subsections (a),  (b)  and  (c)  of
 section  601  of the tax law are REPEALED  and paragraphs 2, 3, 4, 5, 6,
 7, 8 and 9 of subsections (a), (b) and (c) are renumbered paragraphs  1,
 2, 3, 4, 5, 6, 7 and 8.
 

S 2. Paragraphs 1 of subsections (a), (b) and (c) and subparagraph (A)
 of  paragraph  1  of subsection (d) of section 601 of the tax law, para
 graphs 1 of subsections (a), (b) and (c) as amended by section 1 of part
 Z1 of chapter 57 of the laws of 2009 and as renumbered by section one of
 this act, the opening paragraphs of paragraphs 1 of subsections (a), (b)
 and (c) as amended by sections 2, 4 and 6 of part A of chapter 56 of the
 laws of 2011 and subparagraph (A) of paragraph 1 of  subsection  (d)  as
 amended  by  section  1 of part R of chapter 63 of the laws of 2003, are
 amended to read as follows:

 (1) For taxable years beginning after two thousand  five  [and  before
 two thousand nine]:

 If the New York taxable income is:    The tax is:

 Not over $16,000                      4% of the New York taxable
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07271-03-2
 
       A. 3418--A                          2
 income
 Over $16,000 but not over $22,000     $640 plus 4.5% of excess over
 $16,000
 Over $22,000 but not over $26,000     $910 plus 5.25% of excess over
 $22,000
 Over $26,000 but not over $40,000     $1,120 plus 5.9% of excess over
 $26,000
 Over $40,000                          $1,946 plus [6.85%] 6.5%
 of excess over $40,000
 (1)  For  taxable  years beginning after two thousand five [and before
 two thousand nine]:

 If the New York taxable income is:    The tax is:

 Not over $11,000                      4% of the New York taxable
 income
 Over $11,000 but not over $15,000     $440 plus 4.5% of excess over
 $11,000
 Over $15,000 but not over $17,000     $620 plus 5.25% of excess over
 $15,000
 Over $17,000 but not over $30,000     $725 plus 5.9% of excess over
 $17,000
 Over $30,000                          $1,492 plus [6.85%] 6.5%
 of excess over $30,000
 (1) For taxable years beginning after two thousand  five  [and  before
 two thousand nine]:

 If the New York taxable income is:    The tax is:

 Not over $8,000                       4% of the New York taxable
 income
 Over $8,000 but not over $11,000      $320 plus 4.5% of excess over
 $8,000
 Over $11,000 but not over $13,000     $455 plus 5.25% of excess over
 $11,000
 Over $13,000 but not over $20,000     $560 plus 5.9% of excess over
 $13,000
 Over $20,000                          $973 plus [6.85%] 6.5%
 of excess over $20,000
 (A)  The tax table benefit is the difference between (i) the amount of
 taxable income set forth in the tax table in subsection (a), (b) or (c),
 of this section, as the case may be, or in section six  hundred  ninety
 nine,  as the case may be, not subject to the [6.85] 6.5 percent rate of
 tax for the taxable year multiplied by such rate  and  (ii)  the  dollar
 denominated  tax  for such amount of taxable income set forth in the tax
 table applicable to the taxable year in subsection (a), (b)  or  (c)  of
 this section, as the case may be, or section six hundred ninety-nine, as
 the case may be.
 

S 3. This act shall take effect immediately.

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