Exempts the first $50,000 of income for businesses with 20 or fewer employees from taxation.

New York A08752 amends the tax law to exempt the first $50,000 of income for businesses that employ 20 or fewer employees from taxation. This change applies to taxable years beginning on or after January 1, 2027. The bill modifies sections 210 and 601 of the tax law to include this exemption.

Exempts the first $50,000 of income for businesses with 20 or fewer employees from taxation.

New York A08752 amends the tax law to exempt the first $50,000 of income for businesses that employ 20 or fewer employees from taxation. This change applies to taxable years beginning on or after January 1, 2027. The bill modifies sections 210 and 601 of the tax law to include this exemption.