New York A03551 amends the tax law to adjust the business income base rate and expand the small business subtraction modification.

New York A03551 amends the tax law to adjust the business income base rate and expand the small business subtraction modification. For taxable years beginning before January 1, 2016, if the business income base is not more than $290,000, the amount shall be six and one-half percent of the business income base. For taxable years beginning on or after January 1, 2026, if the business income base is not more than $290,000, the amount shall be four percent of the business income base.

New York A03551 amends the tax law to adjust the business income base rate and expand the small business subtraction modification.

New York A03551 amends the tax law to adjust the business income base rate and expand the small business subtraction modification. For taxable years beginning before January 1, 2016, if the business income base is not more than $290,000, the amount shall be six and one-half percent of the business income base. For taxable years beginning on or after January 1, 2026, if the business income base is not more than $290,000, the amount shall be four percent of the business income base.