Bill > S04437

This bill amends New York's tax law to adjust personal income tax rates for high-income taxpayers, specifically by increasing the top marginal tax rate from 10.90% to 11.40% for those with New York taxable income exceeding $25 million. The bill also modifies the tax rate structure for taxable years beginning after 2026, ensuring that the higher rate applies from that point forward, and adjusts the supplemental tax rate for individuals with New York adjusted gross income over $25 million to reflect this increase. These changes are intended to increase tax revenue from the highest earners in the state.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S4437