New York A10255 amends tax law to adjust the business income base for certain small business taxpayers.

New York A10255 amends the tax law to modify the business income base for certain small business taxpayers. Specifically, it adjusts the income base for sole proprietors and small businesses, including limited liability companies, partnerships, and New York S corporations. The bill sets different income thresholds and percentages for these entities, depending on the size of their business income base. It applies to taxable years beginning on or after January 1, 2027.

New York A10255 amends tax law to adjust the business income base for certain small business taxpayers.

New York A10255 amends the tax law to modify the business income base for certain small business taxpayers. Specifically, it adjusts the income base for sole proprietors and small businesses, including limited liability companies, partnerships, and New York S corporations. The bill sets different income thresholds and percentages for these entities, depending on the size of their business income base. It applies to taxable years beginning on or after January 1, 2027.