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Bill > A09682
NY A09682
NY A09682Relates to the business income rate and expanding the small business subtraction modification.
summary
Introduced
01/21/2026
01/21/2026
In Committee
01/21/2026
01/21/2026
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to the business income base rate and expanding the small business subtraction modification
AI Summary
This bill proposes changes to New York's tax law, specifically affecting how businesses are taxed on their income. It aims to lower the tax rate on business income for taxable years beginning on or after January 1, 2027, by reducing the percentage applied to different income brackets. For instance, businesses with a business income base (the profit from their operations) not exceeding $290,000 will see their tax rate decrease from 6.5% to 4%. The bill also adjusts the calculations for businesses with higher income bases within the $290,000 to $390,000 range, and these changes are intended to take effect immediately and apply to tax years starting from 2027.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
referred to ways and means (on 01/21/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2025/A9682 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A09682&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A09682 |
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