New York A 5377: Relates to allowing one license plate to be issued for a vehicle

Bill Text

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A05377 Summary:

BILL NOA05377A

&nbsp

SAME ASSAME AS S03943-A

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SPONSORSolages

&nbsp

COSPNSRGallagher, Taylor

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MLTSPNSR

&nbsp

Amd §210, Tax L

&nbsp

Provides that the franchise tax on businesses with a business income base over five million dollars shall be nine percent of such income base.

Go to top A05377 Actions:

BILL NOA05377A

&nbsp

02/13/2025referred to ways and means

01/07/2026referred to ways and means

02/13/2026amend and recommit to ways and means

02/13/2026print number 5377a

Go to topA05377 Committee&nbspVotes:

Go to topA05377 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA05377 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5377--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 13, 2025
 ___________

 Introduced by M. of A. SOLAGES, GALLAGHER, TAYLOR -- 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 committee

 AN ACT to amend the tax law, in relation to computation of franchise tax
 on taxpayers with a business income base exceeding five million
 dollars

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The opening paragraph of paragraph (a) of subdivision 1 of
 2 section 210 of the tax law, as amended by section 1 of subpart A of part
 3 I of chapter 59 of the laws of 2023, is amended to read as follows:
 4 For taxable years beginning before January first, two thousand
 5 sixteen, the amount prescribed by this paragraph shall be computed at
 6 the rate of seven and one-tenth percent of the taxpayer's business
 7 income base. For taxable years beginning on or after January first, two
 8 thousand sixteen, the amount prescribed by this paragraph shall be six
 9 and one-half percent of the taxpayer's business income base. For taxable
 10 years beginning on or after January first, two thousand twenty-one and
 11 before January first, two thousand [twenty-seven] twenty-six for any
 12 taxpayer with a business income base for the taxable year of more than
 13 five million dollars, the amount prescribed by this paragraph shall be
 14 seven and one-quarter percent of the taxpayer's business income base.
 15 For taxable years beginning on or after January first, two thousand
 16 twenty-six for any taxpayer with a business income base for the taxable
 17 year of more than five million dollars, the amount prescribed by this
 18 paragraph shall be nine percent of the taxpayer's business income base.
 19 The taxpayer's business income base shall mean the portion of the
 20 taxpayer's business income apportioned within the state as hereinafter
 21 provided. However, in the case of a small business taxpayer, as defined

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08239-03-6

 A. 5377--A 2

 1 in paragraph (f) of this subdivision, the amount prescribed by this
 2 paragraph shall be computed pursuant to subparagraph (iv) of this para-
 3 graph and in the case of a manufacturer, as defined in subparagraph (vi)
 4 of this paragraph, the amount prescribed by this paragraph shall be
 5 computed pursuant to subparagraph (vi) of this paragraph, and, in the
 6 case of a qualified emerging technology company, as defined in subpara-
 7 graph (vii) of this paragraph, the amount prescribed by this paragraph
 8 shall be computed pursuant to subparagraph (vii) of this paragraph.
 9 § 2. This act shall take effect immediately.

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