Empire State Windfall Profits Tax Act imposes an excise tax on companies with quarterly profit windfalls.

The Empire State Windfall Profits Tax Act establishes an excise tax on the quarterly receipts of companies experiencing profit windfalls. The tax applies to receipts from retail sales, services, production, and manufacturing. The tax rate is determined based on the company's average annual profits over a specified period. Revenues from the tax are deposited into the "Protect New Yorkers from Surges Fund." The fund's moneys are used to make payments to eligible taxpayers and are appropriated to the dedicated highway and bridge trust fund.

Empire State Windfall Profits Tax Act imposes an excise tax on companies with quarterly profit windfalls.

The Empire State Windfall Profits Tax Act establishes an excise tax on the quarterly receipts of companies experiencing profit windfalls. The tax applies to receipts from retail sales, services, production, and manufacturing. The tax rate is determined based on the company's average annual profits over a specified period. Revenues from the tax are deposited into the "Protect New Yorkers from Surges Fund." The fund's moneys are used to make payments to eligible taxpayers and are appropriated to the dedicated highway and bridge trust fund.