New York S03943 sets the franchise tax rate at nine percent for businesses with a business income base over five million dollars.
New York S03943 amends the tax law to establish a franchise tax rate of 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 bill modifies the tax computation for these businesses, setting a specific rate for their franchise tax.
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