Increases the tax rate on corporate income in New York.

The bill amends the tax law to increase the tax rate on corporate income. For taxable years beginning before January 1, 2016, the tax rate is seven and one-tenth percent of the taxpayer's business income base. For taxable years beginning on or after January 1, 2016, and before January 1, 2026, the tax rate is six and one-half percent. For taxable years beginning on or after January 1, 2026, the tax rate is seven and one-quarter percent. The bill applies to corporate income exceeding five million dollars.

Increases the tax rate on corporate income in New York.

The bill amends the tax law to increase the tax rate on corporate income. For taxable years beginning before January 1, 2016, the tax rate is seven and one-tenth percent of the taxpayer's business income base. For taxable years beginning on or after January 1, 2016, and before January 1, 2026, the tax rate is six and one-half percent. For taxable years beginning on or after January 1, 2026, the tax rate is seven and one-quarter percent. The bill applies to corporate income exceeding five million dollars.