Bill > S08720

This bill makes permanent certain higher personal income tax rates in New York State for taxable years beginning after 2026, by removing the previous expiration date of 2033. This means that the tax brackets and corresponding tax rates, which apply to different levels of "New York taxable income" (income after deductions), will continue to be in effect indefinitely. The bill also repeals older provisions related to these tax rates, ensuring that the new permanent rates are the operative ones. The changes affect tax calculations for individuals based on their income levels, with higher earners facing the highest tax percentages.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S8720