N.Y. Tax Law § 601-A — Cost of living adjustment

§ 601-a. Cost of living adjustment. (a) For tax year two thousand\nthirteen, the commissioner, not later than September first, two thousand\ntwelve, shall multiply the amounts specified in subsection (b) of this\nsection for tax year two thousand twelve by one plus the cost of living\nadjustment described in subsection (c) of this section. For tax year two\nthousand fourteen, the commissioner, not later than September first, two\nthousand thirteen, shall multiply the amounts specified in subsection\n(b) of this section for tax year two thousand thirteen by one plus the\ncost of living adjustment. For each succeeding tax year after tax year\ntwo thousand fourteen and before tax year two thousand eighteen, the\ncommissioner, not later than September first of such tax year, shall\nmultiply the amounts specified in subsection (b) of this section for\nsuch tax year by one plus the cost of living adjustment described in\nsubsection (c) of this section for such tax year.\n (b) The following amounts shall be indexed by the cost of living\nadjustment.\n (1) The dollar amounts in the tax tables set forth in paragraph one of\nsubsection (a), paragraph one of subsection (b) and paragraph one of\nsubsection (c) of section six hundred one of this part.\n (2) The dollar amount in the numerator of the fractions in subsection\n(d) of section six hundred one of this part that is not fifty thousand\ndollars.\n (3) The New York standard deduction of a resident individual in\nsection six hundred fourteen of this article.\n (c) The cost of living adjustment for a tax year is the percentage if\nany, by which the average monthly value of the consumer price index for\nthe twelve month period ending on June thirtieth of the year immediately\npreceding the tax year for which the adjustment is being made (referred\nto as the adjustment year) exceeds the average monthly value of the\nconsumer price index for the twelve month period ending on June\nthirtieth of the year immediately preceding the adjustment year. For\npurposes of this section, the consumer price index means the consumer\nprice index for all urban consumers published by the United States\ndepartment of labor.\n (d) If the product of the amounts in subsection (b) and subsection (c)\nof this section is not a multiple of fifty dollars, such increase shall\nbe rounded to the next lowest multiple of fifty dollars.\n