Bill > A05318

This bill extends the expiration date of the personal income tax surcharge for the city of Yonkers from 2026 to 2028. Specifically, the bill amends multiple sections of the New York tax law to change references from "two thousand twenty-six" to "two thousand twenty-eight", which effectively prolongs the city's ability to impose an income tax surcharge on its residents. The surcharge allows Yonkers, a city with a population between 180,000 and 215,000 inhabitants, to levy an additional tax on city residents at a rate not exceeding 19.25% of their net state tax. The bill maintains the existing rules for implementing and filing the local law, including requirements that the law be enacted by July 31st and a certified copy be mailed to the state commissioner. The changes apply to taxable years beginning on or after the effective date, and the bill includes a provision that allows the commissioner some flexibility in waiving certain filing deadlines. The bill takes effect immediately, ensuring that Yonkers can continue its current tax surcharge structure for two additional years.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A5318