New York A03064 imposes a tax of one-half of one percent on all corporate stock buybacks of issued shares.

New York A03064 amends the tax law to impose a tax of one-half of one percent on all corporate stock buybacks of issued shares. This tax applies to the value paid by the corporation for the shares. The tax is distinct from other taxes on sales or transfers of shares, which vary based on the selling price. The bill specifies that the tax takes effect immediately upon enactment. This measure affects corporations engaging in stock buybacks within New York.

New York A03064 imposes a tax of one-half of one percent on all corporate stock buybacks of issued shares.

New York A03064 amends the tax law to impose a tax of one-half of one percent on all corporate stock buybacks of issued shares. This tax applies to the value paid by the corporation for the shares. The tax is distinct from other taxes on sales or transfers of shares, which vary based on the selling price. The bill specifies that the tax takes effect immediately upon enactment. This measure affects corporations engaging in stock buybacks within New York.