Enacts the "fair share act" to allow cities imposing city personal income taxes to impose an additional two percent tax on city residents, estates.

The "fair share act" authorizes cities in New York that impose city personal income taxes to adopt and amend local laws imposing an additional two percent tax on the annual city taxable income of city residents, estates, and trusts reporting any return in excess of one million dollars. This additional tax must be enacted by July 31st of each year and a certified copy must be mailed to the department within fifteen days of enactment. The tax is to be administered, collected, and distributed by the commissioner in the same manner as other taxes imposed under the tax law.

Enacts the "fair share act" to allow cities imposing city personal income taxes to impose an additional two percent tax on city residents, estates.

The "fair share act" authorizes cities in New York that impose city personal income taxes to adopt and amend local laws imposing an additional two percent tax on the annual city taxable income of city residents, estates, and trusts reporting any return in excess of one million dollars. This additional tax must be enacted by July 31st of each year and a certified copy must be mailed to the department within fifteen days of enactment. The tax is to be administered, collected, and distributed by the commissioner in the same manner as other taxes imposed under the tax law.