New York A 11253: Relates to the personal income tax rates; repealer

Bill Text

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A11253 Summary:

BILL NOA11253 

&nbsp

SAME ASSAME AS S09110

&nbsp

SPONSORSmullen

&nbsp

COSPNSRDurso, Mikulin

&nbsp

MLTSPNSR

&nbsp

Rpld §601 sub§§ (a), (b), (c), (d), (d-5), (d-6) & (d-7), sub§ (d-4) opening ¶, amd §601, Tax L

&nbsp

Phases in tax cuts to the personal income tax over a period of ten years; repeals certain provisions relating to tax benefit recapture.

Go to top A11253 Actions:

BILL NOA11253 

&nbsp

05/04/2026referred to ways and means

Go to topA11253 Committee&nbspVotes:

Go to topA11253 Floor&nbspVotes:

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

Go to topA11253 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 11253

 IN ASSEMBLY

 May 4, 2026
 ___________

 Introduced by M. of A. SMULLEN -- read once and referred to the Commit-
 tee on Ways and Means

 AN ACT to amend the tax law, in relation to the personal income tax
 rate; and to repeal certain provisions of such law relating thereto

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

 1 Section 1. Subsection (a) of section 601 of the tax law is REPEALED
 2 and a new subsection (a) is added to read as follows:
 3 (a) Resident married individuals filing joint returns and resident
 4 surviving spouses. There is hereby imposed for each taxable year on the
 5 New York taxable income of every resident married individual who makes a
 6 single return jointly with their spouse under subsection (b) of section
 7 six hundred fifty-one of this article and on the New York taxable income
 8 of every resident surviving spouse a tax determined in accordance with
 9 the following tables:
 10 (1) For taxable years beginning in two thousand twenty-six, the
 11 following rates shall apply:

 12 If the New York taxable income is: The tax is:
 13 Not over $10,000 $0
 14 Over $10,000 but not over $500,000 4% of excess over $10,000
 15 Over $500,000 but not over $19,600 plus 5% of excess over
 16 $2,155,350 $500,000
 17 Over $2,155,350 but not over $102,367.50 plus 9.65% of excess
 18 $5,000,000 over $2,155,350
 19 Over $5,000,000 but not over $376,876.23 plus 10.30% of
 20 $25,000,000 excess over $5,000,000
 21 Over $25,000,000 $2,436,876.23 plus 10.90% of
 22 excess over $25,000,000
 23 (2) For taxable years beginning in two thousand twenty-seven, the
 24 following rates shall apply:

 25 If the New York taxable income is: The tax is:
 26 Not over $20,000 $0

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14609-02-6

 A. 11253 2

 1 Over $20,000 but not over $500,000 4% of excess over $20,000
 2 Over $500,000 but not over $19,200 plus 5% of excess over
 3 $2,155,350 $500,000
 4 Over $2,155,350 but not over $101,967.50 plus 9.65% of excess
 5 $5,000,000 over $2,155,350
 6 Over $5,000,000 but not over $376,476.23 plus 10.30% of
 7 $25,000,000 excess over $5,000,000
 8 Over $25,000,000 $2,436,476.23 plus 10.90% of
 9 excess over $25,000,000
 10 (3) For taxable years beginning in two thousand twenty-eight, the
 11 following rates shall apply:

 12 If the New York taxable income is: The tax is:
 13 Not over $30,000 $0
 14 Over $30,000 but not over 4% of excess over
 15 $500,000 $30,000
 16 Over $500,000 but not over $18,800 plus 5% of excess
 17 $2,155,350 over $500,000
 18 Over $2,155,350 but not over $101,567.50 plus 9.65% of excess
 19 $5,000,000 over $2,155,350
 20 Over $5,000,000 but not over $376,076.23 plus 10.30% of
 21 $25,000,000 excess over $5,000,000
 22 Over $25,000,000 $2,436,076.23 plus 10.90% of
 23 excess over $25,000,000
 24 (4) For taxable years beginning in two thousand twenty-nine, the
 25 following rates shall apply:

 26 If the New York taxable income is: The tax is:
 27 Not over $40,000 $0
 28 Over $40,000 but not over 4% of excess over
 29 $500,000 $40,000
 30 Over $500,000 but not over $18,400 plus 5% of excess
 31 $2,155,350 over $500,000
 32 Over $2,155,350 but not over $101,167.50 plus 9.65% of excess
 33 $5,000,000 over $2,155,350
 34 Over $5,000,000 but not over $375,676.23 plus 10.30% of
 35 $25,000,000 excess over $5,000,000
 36 Over $25,000,000 $2,435,676.23 plus 10.90% of
 37 excess over $25,000,000
 38 (5) For taxable years beginning in two thousand thirty, t