NY A02195

Bill

Reinstates a bank tax based on the highest of four bases: a tax on allocated entire net income, a tax on allocated alternative entire net income, a tax on allocated taxable assets, or a fixed dollar minimum tax; prohibits banks from segregating their income and capital into business and investment varieties.

Introduced
01/23/2023

In Committee
01/03/2024

Crossed Over

Passed

Dead
12/31/2024

Introduced Session

2023-2024 General Assembly

Bill Summary

AN ACT to amend the tax law, in relation to franchise tax on banking corporations

AI Summary

This bill reinstates a bank tax based on the highest of four bases: a tax on allocated entire net income, a tax on allocated alternative entire net income, a tax on allocated taxable assets, or a fixed dollar minimum tax. The bill also prohibits banks from segregating their income and capital into business and investment varieties. The bill applies to taxable years starting January 1, 2024.

Committee Categories

Budget and Finance

Sponsors (1)

Ron Kim (D)*,

Last Action

referred to ways and means (on 01/03/2024)

Official Document

https://www.nysenate.gov/legislation/bills/2023/A2195

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.nysenate.gov/legislation/bills/2023/A2195
BillText	https://assembly.state.ny.us/leg/?default_fld=&bn=A02195&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A02195

Bill	Bill Name	Last Action	Type
A03474	Reinstates a bank tax based on the highest of four bases: a tax on allocated entire net income, a tax on allocated alternative entire net income, a tax on allocated taxable assets, or a fixed dollar minimum tax; prohibits banks from segregating their income and capital into business and investment varieties.	referred to ways and means	Reintroduced
S03440	Reinstates a bank tax based on the highest of four bases: a tax on allocated entire net income, a tax on allocated alternative entire net income, a tax on allocated taxable assets, or a fixed dollar minimum tax; prohibits banks from segregating their income and capital into business and investment varieties.	REFERRED TO BUDGET AND REVENUE	Same As

Bill > A02195

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary