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S 953

New York Senate bill in Session 2025-2026.

Status: in_committee. Latest action: January 8, 2025.

Raises the tax rate on corporate income; increases the state conformity to federal taxation of corporate profit shifting; and imposes an additional tax on individual business income.

Bill ID NY-2025-2026-S-953
Session 2025-2026
Status in_committee
Committee Budget And Revenue
Senate in_committee 2025-01-08
Business / Commerce Tax / Budget / Appropriations
Summary

Raises the tax rate on corporate income; increases the state conformity to federal taxation of corporate profit shifting; imposes an additional tax on individual business income in response to federal tax benefits for pass-through business income.

Sponsor
Brad Hoylman-Sigal
Official Source Back to Bills
Actions Timeline
Date Event Detail
2025-01-07 Introduced Bill introduced
2025-01-08 Status in_committee
2025-01-08 Latest Action In Senate Committee
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