Imposes a tax of one-half of one percent on all corporate stock buybacks of issued shares.

New York S01681 amends the tax law to impose a tax of one-half of one percent on all corporate stock buybacks of issued shares. This tax applies regardless of whether the shares are cancelled on reacquisition. The tax rate varies based on the selling price of the shares, with different rates for shares sold at less than five dollars, between five and ten dollars, between ten and twenty dollars, and at twenty dollars or more per share. The tax is to be collected immediately upon the purchase, redemption, or other reacquisition of shares by a corporation.

Imposes a tax of one-half of one percent on all corporate stock buybacks of issued shares.

New York S01681 amends the tax law to impose a tax of one-half of one percent on all corporate stock buybacks of issued shares. This tax applies regardless of whether the shares are cancelled on reacquisition. The tax rate varies based on the selling price of the shares, with different rates for shares sold at less than five dollars, between five and ten dollars, between ten and twenty dollars, and at twenty dollars or more per share. The tax is to be collected immediately upon the purchase, redemption, or other reacquisition of shares by a corporation.