New York A05377 sets the franchise tax rate at nine percent for businesses with an income base over five million dollars.
New York A05377 amends the tax law to set the franchise tax rate at nine percent for businesses with a business income base exceeding five million dollars. This change applies to taxable years beginning on or after January 1, 2026. The business income base refers to the portion of the taxpayer's business income apportioned within the state.
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