New York A11253 phases in personal income tax cuts over ten years and repeals tax benefit recapture provisions.

New York A11253 amends the tax law to phase in personal income tax cuts over a period of ten years, starting from taxable years beginning in 2026. It sets new tax rates for different income brackets for married individuals filing jointly, surviving spouses, unmarried individuals, estates, and trusts. The bill also repeals certain provisions related to tax benefit recapture. The changes take effect immediately.

New York A11253 phases in personal income tax cuts over ten years and repeals tax benefit recapture provisions.

New York A11253 amends the tax law to phase in personal income tax cuts over a period of ten years, starting from taxable years beginning in 2026. It sets new tax rates for different income brackets for married individuals filing jointly, surviving spouses, unmarried individuals, estates, and trusts. The bill also repeals certain provisions related to tax benefit recapture. The changes take effect immediately.