New York A02104 limits personal income tax levies by the state.

New York A02104 amends the tax law to establish a limit on the personal income tax levy by the state. The tax levy limit is calculated based on the prior fiscal year's tax levy and an inflation factor. If the state's actual tax levy exceeds the limit by more than one percent, rebates are issued to taxpayers. The act takes effect immediately.

New York A02104 limits personal income tax levies by the state.

New York A02104 amends the tax law to establish a limit on the personal income tax levy by the state. The tax levy limit is calculated based on the prior fiscal year's tax levy and an inflation factor. If the state's actual tax levy exceeds the limit by more than one percent, rebates are issued to taxpayers. The act takes effect immediately.