New York Tax Law (Consolidated Laws)
N.Y. Tax Law § 699
Transition provisions
§ 699. Transition provisions. For purposes of implementation of changes in tax rate and in amounts of taxable income subject to each rate applicable to any taxable year (whether or not such taxable year is a taxable year of twelve months) beginning in nineteen hundred ninety-five and nineteen hundred ninety-six, under subsections (a), (b) or (c) of section six hundred one, the tax is imposed and determined for each such taxable year in accordance with the following provisions:
# (1)
Taxable years beginning in nineteen hundred ninety-six. Paragraph two of subsections (a), (b) and (c) of section six hundred one, relating to imposition of the income tax for taxable years beginning in nineteen hundred ninety-six, establishes a new tax rate schedule effective on the first day of the taxpayer's taxable year, except that the highest rate of tax of seven percent shall not take effect until the first day of the fourth month of the taxpayer's taxable year beginning in nineteen hundred ninety-six. For purposes of implementation of the tax for taxable years beginning in nineteen hundred ninety-six, the highest rate of tax in each tax rate schedule shall be administered for the entire taxable year at the rate of 7.125 percent on New York taxable income in excess of (A) twenty-six thousand dollars in the case of married individuals filing joint returns and surviving spouses, (B) seventeen thousand dollars in the case of heads of households and (C) thirteen thousand dollars in the case of unmarried individuals, married individuals filing separate returns and estates and trusts.
# (2)
Taxable years beginning in nineteen hundred ninety-five. Paragraph three of subsections (a), (b) and (c) of section six hundred one, relating to imposition of the income tax for taxable years beginning in nineteen hundred ninety-five, establishes a new tax rate schedule effective on the first day of the taxpayer's taxable year, except that the highest rate of tax of seven and one-half percent shall not take effect until the first day of the fourth month of the taxpayer's taxable year beginning in nineteen hundred ninety-five. For purposes of implementation of the tax, the highest rate of tax in each tax rate schedule shall be administered for the entire taxable year at the rate of 7.59375 percent on New York taxable income (A) in excess of twenty-five thousand dollars in the case of married individuals filing joint returns and surviving spouses, (B) in excess of nineteen thousand dollars in the case of heads of households and (C) in excess of twelve thousand five hundred dollars in the case of unmarried individuals, married individuals filing separate returns and estates and trusts.
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In this article (40 sections)
- 639 · Accruals upon change of residence
- 651 · Returns and liabilities
- 652 · Time and place for filing returns and paying tax
- 653 · Signing of returns and other documents
- 654 · Relief from joint and several liability on joint return
- 657 · Extensions of time
- 658 · Requirements concerning returns, notices, records and statements
- 659 · Report of federal changes, corrections or disallowances
- 659-A · Reporting of federal partnership adjustments
- 660 · Election by shareholders of S corporations
- 661 · Change of election
- 662 · Computation of tax where taxpayer restores substantial amount…
- 663 · Estimated tax on sale or transfer of real property by nonresident
- 671 · Requirement of withholding tax from wages
- 672 · Information statement for employee
- 673 · Credit for tax withheld
- 674 · Employer's return and payment of withheld taxes
- 675 · Employer's liability for withheld taxes
- 676 · Employer's failure to withhold
- 677 · Designation of third parties to perform acts required of employers
- 678 · Liability of third parties paying or providing for wages
- 681 · Notice of deficiency
- 682 · Assessment
- 683 · Limitations on assessment
- 684 · Interest on underpayment
- 685 · Additions to tax and civil penalties
- 686 · Overpayment
- 687 · Limitations on credit or refund
- 688 · Interest on overpayment
- 689 · Petition to tax commission
- 690 · Review of tax commission decision
- 691 · Mailing rules; holidays; miscellaneous
- 692 · Collection, levy and liens
- 693 · Transferees
- 694 · Jeopardy assessment
- 695 · Criminal penalties; cross-reference
- 696 · Income taxes of members of armed forces, astronauts, and victims…
- 697 · General powers of tax commission
- 698 · Deposit and disposition of revenue
- 699 · Transition provisions