Section 11-1701
§ 11-1701 Imposition of tax. General. A tax is hereby imposed on the
city taxable income of every city resident individual, estate and trust
determined in accordance with the rates set forth in subdivision (a) of
this section for taxable years beginning before two thousand fifteen,
and in accordance with the rates set forth in subdivision (b) of this
section for taxable years beginning after two thousand fourteen.
Provided, however, that if, for any taxable year beginning after two
thousand fourteen, the rates set forth in such subdivision (b) are
rendered inapplicable and the rates set forth in such subdivision (a)
are rendered applicable, then the tax for such taxable year shall be at
the rates provided under subparagraph (A) of paragraphs one, two and
three of such subdivision (a).
Notwithstanding the foregoing sentences, for taxable years beginning
after two thousand two and before two thousand six, a tax is hereby
imposed on the city taxable income of every city resident individual,
estate and trust determined in accordance with the rates set forth in
subdivision (g) of this section and in accordance with the provisions of
subdivision (h) of this section. During any taxable year beginning after
two thousand two and before two thousand six, in which the tax imposed
pursuant to this section is determined in accordance with subdivisions
(g) and (h) of this section, the rates set forth in subdivisions (a) and
(b) of this section shall be inapplicable, and the tax imposed pursuant
to section 11-1704.1 of this chapter shall be suspended.
(a) Rate of tax. A tax imposed pursuant to this section shall be
determined as follows:
(1) Resident married individuals filing joint returns and resident
surviving spouses. The tax under this section for each taxable year on
the city taxable income of every city resident married individual who
makes a single return jointly with his or her spouse under subdivision
(b) of section 11-1751 of this chapter and on the city taxable income of
every city resident surviving spouse shall be determined in accordance
with the following tables:
(A) For taxable years beginning after two thousand nine:
If the city taxable income is: The tax is:
Not over $21,600 2.55% of the city taxable income
Over $21,600 but not $551 plus 3.1% of excess
over $45,000 over $21,600
Over $45,000 but not $1,276 plus 3.15% of excess
over $90,000 over $45,000
Over $90,000 but not $2,694 plus 3.2% of excess
over $500,000 over $90,000
Over $500,000 $15,814 plus 3.4% of excess
over $500,000
(B) For taxable years beginning in two thousand one and two thousand
two and for taxable years beginning after two thousand five and before
two thousand ten:
If the city taxable income is: The tax is:
Not over $21,600 2.55% of the city taxable income
Over $21,600 but not $551 plus 3.1% of excess
over $45,000 over $21,600
Over $45,000 but not $1,276 plus 3.15% of excess
over $90,000 over $45,000
Over $90,000 $2,694 plus 3.2% of excess
over $90,000
(2) Resident heads of households. The tax under this section for each
taxable year on the city taxable income of every city resident head of a
household shall be determined in accordance with the following tables:
(A) For taxable years beginning after two thousand nine:
If the city taxable income is: The tax is:
Not over $14,400 2.55% of the city taxable income
Over $14,400 but not $367 plus 3.1% of excess
over $30,000 over $14,400
Over $30,000 but not $851 plus 3.15% of excess
over $60,000 over $30,000
Over $60,000 but not $1,796 plus 3.2% of excess
over $500,000 over $60,000
Over $500,000 $15,876 plus 3.4% of excess
over $500,000
(B) For taxable years beginning in two thousand one and two thousand
two and for taxable years beginning after two thousand five and before
two thousand ten:
If the city taxable income is: The tax is:
Not over $14,400 2.55% of the city taxable income
Over $14,400 but not $367 plus 3.1% of excess
over $30,000 over $14,400
Over $30,000 but not $851 plus 3.15% of excess
over $60,000 over $30,000
Over $60,000 $1,796
plus 3.2% of excess
over $60,000
(3) Resident unmarried individuals, resident married individuals
filing separate returns and resident estates and trusts. The tax under
this section for each taxable year on the city taxable income of every
city resident individual who is not a married individual who makes a
single return jointly with his or her spouse under subdivision (b) of
section 11-1751 of this chapter or a city resident head of a household
or a city resident surviving spouse, and on the city taxable income of
every city resident estate and trust shall be determined in accordance
with the following tables:
(A) For taxable years beginning after two thousand nine:
If the city taxable income is: The tax is:
Not over $12,000 2.55% of the city taxable income
Over $12,000 but not $306 plus 3.1% of excess
over $25,000 over $12,000
Over $25,000 but not $709 plus 3.15% of excess
over $50,000 over $25,000
Over $50,000 but not $1,497 plus 3.2% of excess
over $500,000 over $50,000
Over $500,000 $15,897 plus 3.4% of excess
over $500,000
(B) For taxable years beginning in two thousand one and two thousand
two and for taxable years beginning after two thousand five and before
two thousand ten:
If the city taxable income is: The tax is:
Not over $12,000 2.55% of the city taxable income
Over $12,000 but not $306 plus 3.1% of excess
over $25,000 over $12,000
Over $25,000 but not $709 plus 3.15% of excess
over $50,000 over $25,000
Over $50,000 $1,497 plus 3.2% of excess
over $50,000
(b) Rate of tax. A tax imposed pursuant to this section shall be
determined as follows:
(1) Resident married individuals filing joint returns and resident
surviving spouses. The tax under this section for each taxable year on
the city taxable income of every city resident married individual who
makes a single return jointly with his or her spouse under subdivision
(b) of section 11-1751 of this title and on the city taxable income of
every city resident surviving spouse shall be determined in accordance
with the following table:
For taxable years beginning after two thousand fourteen:
If the city taxable income is: The tax is:
Not over $21,600 1.18% of the city taxable income
Over $21,600 but not $255 plus 1.435% of excess
over $45,000 over $21,600
Over $45,000 but not $591 plus 1.455% of excess
over $90,000 over $45,000
Over $90,000 $1,245 plus 1.48% of excess
over $90,000
(2) Resident heads of households. The tax under this section for each
taxable year on the city taxable income of every city resident head of a
household shall be determined in accordance with the following table:
For taxable years beginning after two thousand fourteen:
If the city taxable income is: The tax is:
Not over $14,400 1.18% of the city taxable income
Over $14,400 but not $170 plus 1.435% of excess
over $30,000 over $14,400
Over $30,000 but not $394 plus 1.455% of excess
over $60,000 over $30,000
Over $60,000 $830 plus 1.48% of excess
over $60,000
(3) Resident unmarried individuals, resident married individuals
filing separate returns and resident estates and trusts. The tax under
this section for each taxable year on the city taxable income of every
city resident individual who is not a married individual who makes a
single return jointly with his or her spouse under subdivision (b) of
section 11-1751 of this title or a city resident head of a household or
a city resident surviving spouse, and on the city taxable income of
every city resident estate and trust shall be determined in accordance
with the following table:
For taxable years beginning after two thousand fourteen:
If the city taxable income is: The tax is:
Not over $12,000 1.18% of the city taxable income
Over $12,000 but not $142 plus 1.435% of excess
over $25,000 over $12,000
Over $25,000 but not $328 plus 1.455% of excess
over $50,000 over $25,000
Over $50,000 $692 plus 1.48% of excess
over $50,000
(c) Partners and partnerships. A partnership as such shall not be
subject to tax under this chapter. Persons carrying on business as
partners shall be liable for tax under this chapter only in their
separate or individual capacities. As used in this chapter, the term
"partnership" shall include, unless a different meaning is clearly
required, a subchapter K limited liability company. The term "subchapter
K limited liability company" shall mean a limited liability company
classified as a partnership for federal income tax purposes. The term
"limited liability company" means a domestic limited liability company
or a foreign limited liability company, as defined in section one
hundred two of the limited liability company law, a limited liability
investment company formed pursuant to section five hundred seven of the
banking law, or a limited liability company formed pursuant to section
one hundred two-a of the banking law.
(d) Associations taxable as corporations. An association, trust or
other unincorporated organization which is taxable as a corporation for
federal income tax purposes shall not be subject to tax under this
chapter.
(e) Exempt trusts and organizations. A trust or other unincorporated
organization which by reason of its purposes or activities is exempt
from federal income tax shall be exempt from tax under this chapter
(regardless of whether subject to federal and state income tax on
unrelated business taxable income).
(f) Cross references. For definitions of city taxable income of:
(1) City resident individual, see section 11-1711.
(2) City resident estate or trust, see section 11-1718.
(g) Rate of tax. For taxable years beginning after two thousand two
and before two thousand six, the tax imposed pursuant to this section
shall be determined as follows:
(1) Resident married individuals filing joint returns and resident
surviving spouses. The tax under this section for each taxable year on
the city taxable income of every city resident married individual who
makes a single return jointly with his or her spouse under subdivision
(b) of section 11-1751 of this title and on the city taxable income of
every city resident surviving spouse shall be determined in accordance
with the following tables:
(A) For taxable years beginning in two thousand five:
If the city taxable income is: The tax is:
Not over $21,600 2.907% of the city taxable income
Over $21,600 but not over $45,000 $628 plus 3.534% of excess over
$21,600
Over $45,000 but not over $90,000 $1,455 plus 3.591% of excess over
$45,000
Over $90,000 but not over $150,000 $3,071 plus 3.648% of excess over
$90,000
Over $150,000 but not over $500,000 $5,260 plus 4.05% of excess over
$150,000
Over $500,000 $19,435 plus 4.45% of excess over
$500,000
(B) For taxable years beginning in two thousand four:
If the city taxable income is: The tax is:
Not over $21,600 2.907% of the city taxable income
Over $21,600 but not over $45,000 $628 plus 3.534% of excess over
$21,600
Over $45,000 but not over $90,000 $1,455 plus 3.591% of excess over
$45,000
Over $90,000 but not over $150,000 $3,071 plus 3.648% of excess over
$90,000
Over $150,000 but not over $500,000 $5,260 plus 4.175% of excess over
$150,000
Over $500,000 $19,872 plus 4.45% of excess over
$500,000
(C) For taxable years beginning in two thousand three:
If the city taxable income is: The tax is:
Not over $21,600 2.907% of the city taxable income
Over $21,600 but not over $45,000 $628 plus 3.534% of excess over
$21,600
Over $45,000 but not over $90,000 $1,455 plus 3.591% of excess over
$45,000
Over $90,000 but not over $150,000 $3,071 plus 3.648% of excess over
$90,000
Over $150,000 but not over $500,000 $5,260 plus 4.25% of excess over
$150,000
Over $500,000 $20,135 plus 4.45% of excess over
$500,000
(2) Resident heads of households. The tax under this section for each
taxable year on the city taxable income of every city resident head of a
household shall be determined in accordance with the following tables:
(A) For taxable years beginning in two thousand five:
If the city taxable income is: The tax is:
Not over $14,400 2.907% of the city taxable income
Over $14,400 but not over $30,000 $419 plus 3.534% of excess over
$14,400
Over $30,000 but not over $60,000 $970 plus 3.591% of excess over
$30,000
Over $60,000 but not over $125,000 $2,047 plus 3.648% of excess over
$60,000
Over $125,000 but not over $500,000 $4,418 plus 4.05% of excess over
$125,000
Over $500,000 $19,606 plus 4.45% of excess over
$500,000
(B) For taxable years beginning in two thousand four:
If the city taxable income is: The tax is:
Not over $14,400 2.907% of the city taxable income
Over $14,400 but not over $30,000 $419 plus 3.534% of excess over
$14,400
Over $30,000 but not over $60,000 $970 plus 3.591% of excess over
$30,000
Over $60,000 but not over $125,000 $2,047 plus 3.648% of excess over
$60,000
Over $125,000 but not over $500,000 $4,418 plus 4.175% of excess over
$125,000
Over $500,000 $20,075 plus 4.45% of excess over
$500,000
(C) For taxable years beginning in two thousand three:
If the city taxable income is: The tax is:
Not over $14,400 2.907% of the city taxable income
Over $14,400 but not over $30,000 $419 plus 3.534% of excess over
$14,400
Over $30,000 but not over $60,000 $970 plus 3.591% of excess over
$30,000
Over $60,000 but not over $125,000 $2,047 plus 3.648% of excess over
$60,000
Over $125,000 but not over $500,000 $4,418 plus 4.25% of excess over
$125,000
Over $500,000 $20,356 plus 4.45% of excess over
$500,000
(3) Resident unmarried individuals, resident married individuals
filing separate returns and resident estates and trusts. The tax under
this section for each taxable year on the city taxable income of every
city resident individual who is not a married individual who makes a
single return jointly with his or her spouse under subdivision (b) of
section 11-1751 of this title or a city resident head of household or a
city resident surviving spouse, and on the city taxable income of every
city resident estate and trust shall be determined in accordance with
the following tables:
(A) For taxable years beginning in two thousand five:
If the city taxable income is: The tax is:
Not over $12,000 2.907% of the city taxable income
Over $12,000 but not over $25,000 $349 plus 3.534% of excess over
$12,000
Over $25,000 but not over $50,000 $808 plus 3.591% of excess over
$25,000
Over $50,000 but not over $100,000 $1,706 plus 3.648% of excess over
$50,000
Over $100,000 but not over $500,000 $3,530 plus 4.05% of excess over
$100,000
Over $500,000 $19,730 plus 4.45% of excess over
$500,000
(B) For taxable years beginning in two thousand four:
If the city taxable income is: The tax is:
Not over $12,000 2.907% of the city taxable income
Over $12,000 but not over $25,000 $349 plus 3.534% of excess over
$12,000
Over $25,000 but not over $50,000 $808 plus 3.591% of excess over
$25,000
Over $50,000 but not over $100,000 $1,706 plus 3.648% of excess over
$50,000
Over $100,000 but not over $500,000 $3,530 plus 4.175% of excess over
$100,000
Over $500,000 $20,230 plus 4.45% of excess over
$500,000
(C) For taxable years beginning in two thousand three:
If the city taxable income is: The tax is:
Not over $12,000 2.907% of the city taxable income
Over $12,000 but not over $25,000 $349 plus 3.534% of excess over
$12,000
Over $25,000 but not over $50,000 $808 plus 3.591% of excess over
$25,000
Over $50,000 but not over $100,000 $1,706 plus 3.648% of excess over
$50,000
Over $100,000 but not over $500,000 $3,530 plus 4.25% of excess over
$100,000
Over $500,000 $20,530 plus 4.45% of excess over
$500,000
(h) Tax table benefit recapture. For taxable years beginning after two
thousand two and before two thousand six, there is hereby imposed a
supplemental tax, in addition to the tax imposed under the opening
paragraph of this section, for the purpose of recapturing the benefit of
the tax tables contained in subdivision (g) of this section. The
supplemental tax shall be an amount equal to the sum of the tax table
benefits in paragraphs one and two of this subdivision multiplied by
their respective fractions in such paragraphs provided, however, that
paragraph one of this subdivision shall not apply to taxpayers who are
not subject to the second highest rate of tax.
(1) Resident married individuals filing joint returns, surviving
spouses, resident heads of households, resident unmarried individuals,
resident married individuals filing separate returns and resident
estates and trusts. (A) The tax table benefit is the difference between
(i) the amount of taxable income set forth in the tax table in
subdivision (g) of this section not subject to the second highest rate
of tax for the taxable year multiplied by such rate and (ii) the second
highest dollar denominated tax for such amount of taxable income set
forth in the tax table applicable to the taxable year in subdivision (g)
of this section.
(B) The fraction is computed as follows: the numerator is the lesser
of fifty thousand dollars or the excess of New York adjusted gross
income for the taxable year over one hundred fifty thousand dollars and
the denominator is fifty thousand dollars.
(C) This paragraph shall only apply to taxable years beginning after
two thousand two and before two thousand six.
(2) Resident married individuals filing joint returns, surviving
spouses, resident heads of households, resident unmarried individuals,
resident married individuals filing separate returns and resident
estates and trusts. (A) The tax table benefit is the difference between
(i) the amount of taxable income set forth in the tax table in
subdivision (g) of this section not subject to the highest rate of tax
for the taxable year multiplied by such rate and (ii) the highest dollar
denominated tax for such amount of taxable income set forth in the tax
table applicable to the taxable year in subdivision (g) of this section
less the sum of the tax table benefits in paragraph one of this
subdivision.
(B) For such taxpayers with adjusted gross income over five hundred
thousand dollars, the fraction is one. Provided, however, that the total
tax prior to the application of any tax credits shall not exceed the
highest rate of tax set forth in the tax table in subdivision (g) of
this section multiplied by the taxpayer's taxable income.
(C) This paragraph shall only apply to taxable years beginning after
two thousand two and before two thousand six.
Section 11-1702
§ 11-1702 Minimum income tax. In addition to any other tax imposed by
this chapter, a tax is hereby imposed for each taxable year on the city
minimum taxable income of every city resident individual, estate or
trust at the rate of two and one-half percent of such city minimum
taxable income for taxable years beginning before nineteen hundred
ninety-one and after two thousand fourteen and at the rate of two and
eighty-five hundredths percent of such city minimum taxable income for
taxable years beginning after nineteen hundred ninety and before two
thousand fifteen. The provisions of subdivisions (c), (d) and (e) of
section 11-1701 of this title shall also apply for purposes of this tax.
Section 11-1703
§ 11-1703 Separate tax on the ordinary income portion of lump sum
distributions. (a) Imposition of separate tax. In addition to any other
tax imposed by this chapter, there is hereby imposed for each taxable
year a separate tax on the ordinary income portion of a lump sum
distribution of every city resident individual, estate and trust which
has made an election of lump sum treatment under subsection (e) of
section four hundred two of the internal revenue code. The recipient of
a lump sum distribution shall be liable for the tax imposed by this
section. The credits against tax under this chapter, except for the
credit under section 11-1773, shall not be allowed against the tax
imposed by this section.
(b) Cross reference. For computation of tax, see section 11-1724.
Section 11-1704
§ 11-1704 Tax surcharge. (a) In addition to the taxes imposed by
sections 11-1701, 11-1702 and 11-1703, there is hereby imposed for each
taxable year beginning after nineteen hundred eighty-nine but before
nineteen hundred ninety-nine, a tax surcharge on the city taxable income
of every city resident individual, estate and trust.
(b) The tax surcharge imposed pursuant to this section shall be
determined as follows:
(1) Resident married individuals filing joint returns and resident
surviving spouses. The tax surcharge under this section on the city
taxable income of every city resident married individual who makes a
single return jointly with his or her spouse under subdivision (b) of
section 11-1751 and on the city taxable income of every city resident
surviving spouse shall be determined in accordance with the following
tables:
(A) For taxable years beginning after nineteen hundred eighty-nine and
before nineteen hundred ninety-five:
If the city taxable income is: The tax surcharge is:
Not over $15,500 0
Over $15,500 but not over $27,000 0.51% of city taxable income in
excess of $15,500
Over $27,000 but not over $45,000 $59 plus 0.55% of excess over
$27,000
Over $45,000 but not over $108,000 $158 plus 0.51% of excess over
$45,000
Over $108,000 $479 plus 0.51% of excess over
$108,000
(B) For taxable years beginning after nineteen hundred ninety-four but
before nineteen hundred ninety-nine:
If the city taxable income is: The tax surcharge is:
Not over $14,400 0
Over $14,400 but not over $27,000 0.51% of city taxable income in
excess of $14,400
Over $27,000 but not over $45,000 $64 plus 0.55% of excess over
$27,000
Over $45,000 but not over $108,000 $162 plus 0.51% of excess over
$45,000
Over $108,000 $484 plus 0.51% of excess over
$108,000
(2) Resident heads of households. The tax surcharge under this section
on the city taxable income of every city resident head of household
shall be determined in accordance with the following tables:
(A) For taxable years beginning after nineteen hundred eighty-nine and
before nineteen hundred ninety-five:
If the city taxable income is: The tax surcharge is:
Not over $8,800 0
Over $8,800 but not over $16,500 0.51% of city taxable income in
excess of $8,800
Over $16,500 but not over $27,500 $39 plus 0.55% of excess over
$16,500
Over $27,500 but not over $66,000 $100 plus 0.51% of excess over
$27,500
Over $66,000 $296 plus 0.51% of excess over
$66,000
(B) For taxable years beginning after nineteen hundred ninety-four but
before nineteen hundred ninety-nine:
If the city taxable income is: The tax surcharge is:
Not over $7,350 0
Over $7,350 but not over $9,200 0.42% of city taxable income in
excess of $7,350
Over $9,200 but not over $17,250 $7 plus 0.51% of excess over
$9,200
Over $17,250 but not over $28,750 $48 plus 0.55% of excess over
$17,250
Over $28,750 but not over $69,000 $111 plus 0.51% of excess over
$28,750
Over $69,000 $317 plus 0.51% of excess over
$69,000
(3) Resident unmarried individuals, resident married individuals
filing separate returns and resident estates and trusts. The tax
surcharge under this section on the city taxable income of every city
resident individual who is not a city resident married individual who
makes a single return jointly with his or her spouse under subdivision
(b) of section 11-1751 or a city resident head of household or a city
resident surviving spouse, and on the city taxable income of every city
resident estate and trust shall be determined in accordance with the
following tables:
(A) For taxable years beginning after nineteen hundred eighty-nine and
before nineteen hundred ninety-five:
If the city taxable income is: The tax surcharge is:
Not over $9,000 0
Over $9,000 but not over $15,000 0.51% of city taxable income in
excess of $9,000
Over $15,000 but not over $25,000 $31 plus 0.55% of excess over
$15,000
Over $25,000 but not over $60,000 $86 plus 0.51% of excess over
$25,000
Over $60,000 $264 plus 0.51% of excess over
$60,000
(B) For taxable years beginning after nineteen hundred ninety-four but
before nineteen hundred ninety-nine:
If the city taxable income is: The tax surcharge is:
Not over $8,400 0
Over $8,400 but not over $15,000 0.51% of city taxable income in
excess of $8,400
Over $15,000 but not over $25,000 $33 plus 0.55% of excess over
$15,000
Over $25,000 but not over $60,000 $88 plus 0.51% of excess over
$25,000
Over $60,000 $266 plus 0.51% of excess over
$60,000
(c) The tax surcharge imposed pursuant to this section shall be
administered, collected and distributed by the commissioner of taxation
and finance in the same manner as the taxes imposed pursuant to sections
11-1701, 11-1702 and 11-1703, and all of the provisions of this chapter,
including sections 11-1706, 11-1721 and 11-1773, shall apply to the tax
surcharge imposed by this section.
(d) (1) Notwithstanding subdivision (b) of this section, with respect
to taxable years beginning in nineteen hundred ninety-three, nineteen
hundred ninety-four, nineteen hundred ninety-five and nineteen hundred
ninety-six, the mayor shall, by August first of nineteen hundred
ninety-two, nineteen hundred ninety-four and nineteen hundred
ninety-five, and by September fifteenth of nineteen hundred
ninety-three, transmit to the commissioner of taxation and finance a
certification setting forth the percentage of non-achievement regarding
the combined police uniformed staffing level with respect to the fiscal
year of the city ending on the immediately preceding June thirtieth,
provided, however, that for the city fiscal year ending in nineteen
hundred ninety-three the percentage of non-achievement shall be
determined by the combined police uniformed staffing level existing on
August thirtieth, nineteen hundred ninety-three, and further provided
for all such fiscal years that the percentage of non-achievement shall
be calculated according to the procedure specified in a memorandum of
understanding relating to the New York city safe streets-safe city
program and to the enactment of this subdivision dated February
eleventh, nineteen hundred ninety-one, as amended, and executed by the
governor, the temporary president of the state senate, the speaker of
the state assembly, the minority leader of the state senate, the
minority leader of the state assembly, the mayor and the speaker of the
city council, any any modification of such memorandum of understanding
subsequently agreed upon by all such signatories in a single subsequent
memorandum of understanding. If such percentage of non-achievement is
equal to or exceeds twenty-five percent with respect to the fiscal year
of the city of New York ending in nineteen hundred ninety-two, twenty
percent with respect to the city fiscal year ending in nineteen hundred
ninety-three or five percent with respect to the city fiscal years
ending in nineteen hundred ninety-four and nineteen hundred ninety-five,
then the rates of the tax surcharge imposed by this section for taxable
years beginning in the calendar year beginning on January first next
succeeding such August first or September fifteenth shall be the
products of the rates set forth in subdivision (b) of this section and a
percentage equal to the difference between one hundred percent and such
percentage of non-achievement, such products computed to the nearest
hundredth of a percent, and the dollar denominated amounts of the tax
surcharge set forth in subdivision (b) of this section shall be reduced
conformably.
(2) Notwithstanding subdivision (b) of this section, with respect to
the taxable year beginning in nineteen hundred ninety-eight, the mayor
shall, by August first of nineteen hundred ninety-seven, transmit to the
state commissioner of taxation and finance a certification setting forth
the percentage of non-achievement regarding the police uniformed
staffing level with respect to the fiscal year ending on the immediately
preceding June thirtieth, provided, however, that such percentage of
non-achievement shall be calculated according to the procedure specified
in a new memorandum of understanding relating to the enactment of this
paragraph dated no later than thirty days after such enactment, as
executed by the governor, the temporary president of the senate, the
speaker of the assembly, the minority leader of the senate, the minority
leader of the assembly, the mayor and the speaker of the city council
and any modifications of such new memorandum of understanding
subsequently agreed upon by all such signatories in a single subsequent
memorandum of understanding. If such percentage of non-achievement
exceeds two percent with respect to the fiscal year of the city ending
in nineteen hundred ninety-seven, then the rates of the tax surcharge
authorized by this section for the taxable years beginning in the
calendar year beginning on January first, nineteen hundred ninety-eight
shall be the products of the rates set forth in subdivision (b) of this
section and a percentage equal to the difference between one hundred
percent and the portion of the percentage of non-achievement that is in
excess of two percent, such products computed to the nearest hundredth
of a percent, and the dollar denominated amounts of the tax surcharge
set forth in subdivision (b) of this section shall be reduced
conformably.
(3) If the rates of the surcharge imposed by this section are modified
pursuant to paragraph one or paragraph two of this subdivision, the
state commissioner of taxation and finance shall promulgate regulations
stating the modified rates.
(e) Notwithstanding anything in this section or section 11-1798 of
this chapter to the contrary, of the total revenue (including interest
and penalties) from the tax surcharge imposed by this section which the
state comptroller is required to pay, after June thirtieth, nineteen
hundred ninety-two, to the chief fiscal officer of the city for payment
into the treasury of the city, one hundred ten million dollars thereof
paid to the chief fiscal officer during the fiscal year of the city
commencing July first, nineteen hundred ninety-two, two hundred million
dollars thereof paid to the chief fiscal officer during the fiscal year
of the city commencing July first, nineteen hundred ninety-three, one
hundred sixty-seven million dollars thereof paid to the chief fiscal
officer during the fiscal year of the city commencing July first,
nineteen hundred ninety-four, and one hundred eighty-five million
dollars thereof paid to the chief fiscal officer during the fiscal year
of the city commencing July first, nineteen hundred ninety-five, shall
be credited to and deposited in the criminal justice account established
within the general fund of the city for the implementation of the safe
streets-safe city program. The balance of such revenue shall be credited
to the general fund of the city and shall be applied exclusively to or
in aid or support of the city's provision of criminal justice and fire
protection services.
(f) Notwithstanding anything in this article to the contrary, of the
total revenue (including interest and penalties) from the tax surcharge
imposed pursuant to the authority of this section which the state
comptroller is required to pay to the chief fiscal officer of the city
for payment into the treasury of the city, ninety million dollars
thereof paid to such chief fiscal officer during the fiscal year of the
city commencing during calendar year nineteen hundred ninety-six, and
one hundred eighty-five million dollars thereof paid to such chief
fiscal officer during the fiscal year of the city commencing during
calendar year nineteen hundred ninety-seven, shall be credited to and
deposited in a criminal justice account established by the city within
its general fund. The balance of such revenue from such tax surcharge
which the state comptroller is required to pay to such chief fiscal
officer for payment into the treasury of the city for the taxable years
beginning in the calendar years beginning on January first, nineteen
hundred ninety-seven and January first, nineteen hundred ninety-eight
shall be credited to the general fund of the city to be applied
exclusively to or in aid or support of the city's provision of criminal
justice and fire protection services; provided however, that,
notwithstanding the foregoing, such balance shall be applied to
implementation of the capital program for public schools within the city
and a supplemental capital rehabilitation program for such schools, to
the extent that such application is necessary for the timely
implementation of such programs in accordance with the memorandum of
understanding executed pursuant to paragraph two of subdivision (d) of
this section and any modifications thereto.
Section 11-1704.1
§ 11-1704.1 Additional tax. (a) (1) In addition to any other taxes
imposed by this chapter, there is hereby imposed for each taxable year
beginning after nineteen hundred ninety but before two thousand fifteen,
an additional tax on the city taxable income of every city resident
individual, estate and trust, to be calculated for each taxable year as
follows: (i) for each taxable year beginning after nineteen hundred
ninety but before nineteen hundred ninety-nine, at the rate of fourteen
percent of the sum of the taxes for each such taxable year determined
pursuant to section 11-1701 and section 11-1704 of this subchapter; and
(ii) for each taxable year beginning after nineteen hundred
ninety-eight, at the rate of fourteen percent of the tax for such
taxable year determined pursuant to such section 11-1701.
(2) Notwithstanding paragraph one of this subdivision, for each
taxable year beginning after two thousand but before two thousand two,
the additional tax shall be calculated as follows:
(i) Resident married individuals filing joint returns and resident
surviving spouses. The additional tax under this section for each
taxable year on the tax determined pursuant to section 11-1701 of every
city resident married individual who makes a single return jointly with
his or her spouse under subdivision (b) of section 11-1751 and on the
tax determined pursuant to section 11-1701 of every city resident
surviving spouse shall be determined as follows:
(A) If the tax determined pursuant to section 11-1701 is based on city
taxable income equal to or less than $90,000, then the additional tax
shall be 5.25% of such tax;
(B) If the tax determined pursuant to section 11-1701 is based on city
taxable income over $90,000, then the additional tax shall be the sum of
5.25% of such tax on city taxable income up to and including $90,000 and
12.25% of such tax on city taxable income in excess of $90,000.
(ii) Resident heads of households. The additional tax under this
section for each taxable year on the tax determined pursuant to section
11-1701 of every city resident head of a household shall be determined
as follows:
(A) If the tax determined pursuant to section 11-1701 is based on city
taxable income equal to or less than $60,000, then the additional tax
shall be 5.25% of such tax;
(B) If the tax determined pursuant to section 11-1701 is based on city
taxable income over $60,000, then the additional tax shall be the sum of
5.25% of such tax on city taxable income up to and including $60,000 and
12.25% of such tax on city taxable income in excess of $60,000.
(iii) Resident unmarried individuals, resident married individuals
filing separate returns and resident estates and trusts. The additional
tax under this section for each taxable year on the tax determined
pursuant to section 11-1701 of every city resident individual who is not
a married individual who makes a single return jointly with his or her
spouse under subdivision (b) of section 11-1751 or a city resident head
of a household or a city resident surviving spouse, and on the tax
determined pursuant to section 11-1701 of every city resident estate and
trust shall be determined as follows:
(A) If the tax determined pursuant to section 11-1701 is based on city
taxable income equal to or less than $50,000, then the additional tax
shall be 5.25% of such tax;
(B) If the tax determined pursuant to section 11-1701 is based on city
taxable income over $50,000, then the additional tax shall be the sum of
5.25% of such tax on city taxable income up to and including $50,000 and
12.25% of such tax on city taxable income in excess of $50,000.
(b) The additional tax imposed pursuant to this section shall be
administered, collected and distributed by the commissioner of taxation
and finance in the same manner as the other taxes imposed pursuant to
this chapter, and all of the provisions of this chapter, including
sections 11-1706, 11-1721 and 11-1773, shall apply to the additional tax
imposed by this section.
Section 11-1705
§ 11-1705 General provisions and definitions. (a) Accounting periods
and methods. (1) Accounting periods. A taxpayer's taxable year under
this chapter shall be the same as his taxable year for federal income
tax purposes.
(2) Change of accounting periods. If a taxpayer's taxable year is
changed for federal income tax purposes, his taxable year for purposes
of this chapter shall be similarly changed. If a taxable year of less
than twelve months results from a change of taxable year, the city
standard deduction and the city exemptions shall be prorated under
regulations of the tax commission.
(3) Accounting methods. A taxpayer's method of accounting under this
chapter shall be the same as his method of accounting for federal income
tax purposes. In the absence of any method of accounting for federal
income tax purposes, city taxable income shall be computed under such
method as in the opinion of the tax commission clearly reflects income.
(4) Change of accounting methods. (A) If a taxpayer's method of
accounting is changed for federal income tax purposes, his method of
accounting for purposes of this chapter shall be similarly changed.
(B) If a taxpayer's method of accounting is changed, other than from
an accrual to an installment method, any additional tax which results
from adjustments determined to be necessary solely by reason of the
change shall not be greater than if such adjustments were ratably
allocated and included for the taxable year of the change and the
preceding taxable years, not in excess of two, during which the taxpayer
used the method of accounting from which the change is made.
(C) If a taxpayer's method of accounting is changed from an accrual to
an installment method, any additional tax for the year of such change of
method and for any subsequent year which is attributable to the receipt
of installment payments properly accrued in a prior year, shall be
reduced by the portion of tax for any prior taxable year attributable to
the accrual of such installment payments, in accordance with regulations
of the tax commission.
(b) City resident and city nonresident defined. (1) City resident
individual. A city resident individual means an individual:
(A) who is domiciled in this city, unless (i) the taxpayer maintains
no permanent place of abode in this city, maintains a permanent place of
abode elsewhere, and spends in the aggregate not more than thirty days
of the taxable year in this city, or (ii) (I) within any period of five
hundred forty-eight consecutive days the taxpayer is present in a
foreign country or countries for at least four hundred fifty days, and
(II) during the period of five hundred forty-eight consecutive days the
taxpayer, the taxpayer's spouse (unless the spouse is legally separated)
and the taxpayer's minor children are not present in this city for more
than ninety days, and (III) during any period of less than twelve
months, which would be treated as a separate taxable period pursuant to
section 11-1754, and which period is contained within the period of five
hundred forty-eight consecutive days, the taxpayer is present in this
city for a number of days which does not exceed an amount which bears
the same ratio to ninety as the number of days contained in that period
of less than twelve months bears to five hundred forty-eight, or
(B) who is not domiciled in this city but maintains a permanent place
of abode in this city and spends in the aggregate more than one hundred
eighty-three days of the taxable year in this city, unless such
individual is in active service in the armed forces of the United
States.
(2) City nonresident individual. A city nonresident individual means
an individual who is not a city resident.
(3) City resident estate or trust. A city resident estate or trust
means:
(A) the estate of a decedent who at his death was domiciled in this
city,
(B) a trust, or a portion of a trust, consisting of property
transferred by will of a decedent who at his death was domiciled in this
city, or
(C) a trust, or portion of a trust, consisting of the property of:
(i) a person domiciled in this city at the time such property was
transferred to the trust, if such trust or portion of a trust was then
irrevocable, or if it was then revocable and has not subsequently become
irrevocable; or
(ii) a person domiciled in this city at the time such trust, or
portion of a trust, became irrevocable, if it was revocable when such
property was transferred to the trust but has subsequently become
irrevocable.
(D) (i) Provided, however, a resident trust is not subject to tax
under this article if all of the following conditions are satisfied:
(I) all the trustees are domiciled outside the city of New York;
(II) the entire corpus of the trusts, including real and tangible
property, is located outside the city of New York; and
(III) all income and gains of the trust are derived from or connected
with sources outside of the city of New York, determined as if the trust
were a non-resident trust.
(ii) For purposes of item (II) of clause (i) of this subparagraph,
intangible property shall be located in this city if one or more of the
trustees are domiciled in the city of New York.
(iii) Provided further, that for the purposes of item (I) of clause
(i) of this subparagraph, a trustee which is a banking corporation as
defined in subdivision (a) of section 11-640 of this title and which is
domiciled outside the city of New York at the time it becomes a trustee
of the trust shall be deemed to continue to be a trustee domiciled
outside the city of New York notwithstanding that it thereafter
otherwise becomes a trustee domiciled in the city of New York by virtue
of being acquired by, or becoming an office or branch of, a corporate
trustee domiciled within the city of New York.
For the purposes of the foregoing, a trust or portion of a trust is
revocable if it is subject to a power, exercisable immediately or at any
future time, to revest title in the person whose property constitutes
such trust or portion of a trust, and a trust or portion of a trust
becomes irrevocable when the possibility that such power may be
exercised has been terminated.
(4) City nonresident estate or trust. A city nonresident estate or
trust means an estate or trust which is not a city resident estate or
trust.
(5) Cross reference. For effect of a change of resident status, see
section 11-1754.
Section 11-1706
§ 11-1706 Credits against tax. (a) Credit relating to net capital
gain. For taxable years beginning in nineteen hundred eighty-seven, a
credit against the tax imposed under section 11-1701 shall be allowed.
The amount of the credit shall be one-half of one percent of net capital
gain includible in city adjusted gross income for the taxable year. The
credit allowed by this subdivision shall not exceed the tax imposed by
section 11-1701 reduced by the credits permitted under section 11-1721
and subdivision (b) of this section.
(b) Household credit. (1) For taxable years beginning after nineteen
hundred eighty-six, a credit against the city personal income tax
imposed by section 11-1701 shall be allowed. The credit, computed as
described in paragraph two of this subdivision, shall not exceed the tax
imposed by section 11-1701, reduced by the credit permitted under
section 11-1721.
(2) (A) For any individual who is not married nor the head of a
household nor a surviving spouse, the amount of the credit shall be
determined in accordance with the following table:
------------------------------------------------------------------------
If household gross The credit shall be:
income is:
For taxable years For taxable years
beginning after beginning after
1986 and before 1995
1996
------------------------------------------------------------------------
Not over $7,500 $15 $15
Over $7,500 but not over
$10,000 $10 $15
Over $10,000 but not over
$12,500 $0 $10
(B) For any husband and wife, head of household or surviving spouse,
the amount of the credit shall be determined by multiplying the number
of exemptions for which the taxpayer (or in the case of a husband and
wife, taxpayers) is entitled to a deduction for the taxable year for
federal income tax purposes under subsections (b) and (c) of section one
hundred fifty-one of the internal revenue code by the credit factor for
the taxable year as specified in the following table:
------------------------------------------------------------------------
If household gross The credit factor is:
income is:
For taxable years
beginning in
1987 1988
1989 For taxable years
through beginning after
1995 1995
------------------------------------------------------------------------
Not over $12,500 $30 $50 $50 $30
Over $12,500 but not
over $15,000 $20 $40 $50 $30
Over $15,000 but not
over $17,500 $10 $20 $25 $25
Over $17,500 but not
over $20,000 $0 $15 $15 $15
Over $20,000 but not
over $22,500 $0 $0 $0 $10
(3) For purposes of this subsection:
(A) "Household gross income" shall mean the aggregate federal adjusted
gross income of a household, as the term household is defined in
subparagraph (B) of this paragraph, for the taxable year.
(B) "Household" means a husband and wife, a head of household, a
surviving spouse, or an individual who is not married nor the head of a
household nor a surviving spouse nor a taxpayer with respect to whom a
deduction under subsection (c) of section one hundred fifty-one of the
internal revenue code is allowable to another taxpayer for the taxable
year.
(C) "Household gross income of a husband and wife" shall be the
aggregate of their federal adjusted gross incomes for the taxable year
irrespective of whether joint or separate city income tax returns are
filed. Provided, however, that a husband or wife who is required to file
a separate city income tax return shall be permitted one-half the credit
otherwise allowed his or her household, except as limited by paragraph
one of this subdivision.
(D) "Household gross income" shall be computed in all cases as if each
member of the household were a resident for the entire taxable year.
(E) If a taxpayer changes his status during his taxable year from
resident to nonresident, or from nonresident to resident, the household
credit shall be prorated according to the number of months in the period
of residence. In the case of a husband and wife, if either or both
changes his or her status from resident to nonresident or from
nonresident to resident and separate returns are filed, the credit
computed for the entire year shall be divided first as provided in
subparagraph (C) of this paragraph and then prorated according to the
number of months in the period of residence.
* (c) State school tax reduction credit.
(1) For taxable years beginning after nineteen hundred ninety-seven, a
state school tax reduction credit shall be allowed as provided in the
following tables. The credit shall be allowed against the taxes
authorized by this article reduced by the credits permitted by this
article. If the credit exceeds the tax as so reduced, the taxpayer may
receive, and the comptroller, subject to a certificate of the
commissioner, shall pay as an overpayment, without interest, the amount
of such excess. For purposes of this subdivision, no credit shall be
granted to an individual with respect to whom a deduction under
subsection (c) of section one hundred fifty-one of the internal revenue
code is allowable to another taxpayer for the taxable year.
(2) The amount of the credit under this paragraph shall be determined
based upon the taxpayer's income as defined in subparagraph (ii) of
paragraph (b) of subdivision four of section four hundred twenty-five of
the real property tax law. For purposes of this paragraph, any taxpayer
under subparagraphs (A) and (B) of this paragraph with income of more
than two hundred fifty thousand dollars shall not receive a credit.
Beginning in the two thousand ten tax year and each tax year
thereafter, the "more than two hundred fifty thousand dollar" income
limitation shall be adjusted by applying the inflation factor set forth
herein, and rounding each result to the nearest multiple of one hundred
dollars. The department shall establish the income limitation to be
associated with each subsequent tax year by applying the inflation
factor set forth herein to the figures that define the income limitation
that were applicable to the preceding tax year, as determined pursuant
to this subdivision, and rounding each result to the nearest multiple of
one hundred dollars. Such determination shall be made no later than
March first, two thousand ten and each year thereafter.
For purposes of this paragraph, the "inflation factor" shall be
determined in accordance with the provisions set forth in subdivision
fifteen of section one hundred seventy-eight of the tax law.
(A) Married individuals filing joint returns and surviving spouses. In
the case of a husband and wife who make a single return jointly and of a
surviving spouse:
For taxable years beginning: The credit shall be:
in 2001-2005 $125
in 2006 $230
in 2007-2008 $290
in 2009 and after $125
(B) All others. In the case of an unmarried individual, a head of a
household or a married individual filing a separate return:
For taxable years beginning: The credit shall be:
in 2001-2005 $62.50
in 2006 $115
in 2007-2008 $145
in 2009 and after $62.50
(4) Husband and wife who make a joint return. If a husband and wife
make a single return jointly, the credit under this subdivision shall be
determined under paragraph two of this subdivision, if either of them
has attained the age of sixty-five on or before the close of the taxable
year.
(5) Part-year residents. If a taxpayer changes status during the
taxable year from resident to nonresident, or from nonresident to
resident, the state school tax reduction credit shall be prorated
according to the number of months in the period of residence.
* NB There are 2 sub (c)'s
* (c) Credit for unincorporated business taxes paid. (1) A city
resident individual, estate or trust whose city adjusted gross income
includes income, gain, loss or deductions from one or more
unincorporated businesses conducted by such city resident individual,
estate or trust that are subject to the tax imposed by chapter five of
this title, or a distributive share of income, gain, loss and deductions
of, or guaranteed payments from, one or more partnerships that are
subject to the tax imposed by such chapter, shall be allowed a credit as
provided in paragraph two of this subdivision against the tax otherwise
due under sections 11-1701, 11-1703, 11-1704 and 11-1704.1 of this
chapter.
(2) (A) Subject to the limitation set forth in subparagraph (B) of
this paragraph, the credit allowed to a taxpayer for a taxable year
under this subdivision shall be determined as follows:
(i) For taxable years beginning on or after January first, nineteen
hundred ninety-seven and before January first, two thousand seven:
(I) If the city taxable income is forty-two thousand dollars or less,
the credit shall be sixty-five percent of the amount determined in
paragraph three of this subdivision.
(II) If the city taxable income is greater than forty-two thousand
dollars but not greater than one hundred forty-two thousand dollars, the
amount of the credit shall be a percentage of the amount determined in
paragraph three of this subdivision, such percentage to be determined by
subtracting from sixty-five percent, one-tenth of a percentage point
(.001) for every increment of two hundred dollars, or fractional part
thereof, of city taxable income in excess of forty-two thousand dollars.
(III) If the city taxable income is greater than one hundred forty-two
thousand dollars, the credit shall be fifteen percent of the amount
determined in paragraph three of this subdivision.
(ii) For taxable years beginning on or after January first, two
thousand seven:
(I) If the city taxable income is forty-two thousand dollars or less,
the credit shall be one hundred percent of the amount determined in
paragraph three of this subdivision.
(II) If the city taxable income is greater than forty-two thousand
dollars but less than one hundred forty-two thousand dollars, the amount
of the credit shall be a percentage of the amount determined in
paragraph three of this subdivision, such percentage to be determined by
subtracting from one hundred percent, a percentage determined by
subtracting forty-two thousand dollars from city taxable income,
dividing the result by one hundred thousand dollars and multiplying by
seventy-seven percent.
(III) If the city taxable income is one hundred forty-two thousand
dollars or greater, the credit shall be twenty-three percent of the
amount determined in paragraph three of this subdivision.
(B) Notwithstanding anything to the contrary in subparagraph (A) of
this paragraph, the credit allowed to a taxpayer for a taxable year
under this subdivision shall not exceed the sum of the taxes that would
otherwise be imposed by sections 11-1701, 11-1703, 11-1704 and 11-1704.1
of this chapter on such taxpayer for such taxable year after the
allowance of any other credits allowed by this section or section
11-1721 of this chapter.
(3) Subject to the provisions of subparagraph (C) of this paragraph,
the amount determined in this paragraph is the sum of:
(A) for each unincorporated business conducted by the taxpayer, the
tax imposed by chapter five of this title on such unincorporated
business for its taxable year ending with the taxable year of the
taxpayer and paid by the unincorporated business; and
(B) for each unincorporated business in which the taxpayer is a
partner, the product of:
(i) the sum of (I) the tax imposed by chapter five of this title on
such unincorporated business for its taxable year ending within or with
the taxable year of the partner and paid by the unincorporated business
and (II) the amount of any credit or credits taken by the unincorporated
business under subdivision (j) of section 11-503 of this title for its
taxable year ending within or with the taxable year of the partner; and
(ii) a fraction, the numerator of which is the net total of the
partner's distributive share of income, gain, loss and deductions of,
and guaranteed payments from, the unincorporated business for such
taxable year, and the denominator of which is the sum, for such taxable
year, of the net total distributive shares of income, gain, loss and
deductions of, and guaranteed payments to, all partners in the
unincorporated business for whom or which such net total (as separately
determined for each partner) is greater than zero.
(C) For a taxpayer that changes its status from a city resident to a
city nonresident or from a city nonresident to a city resident during
the taxable year:
(i) the amount determined in subparagraph (A) of this paragraph shall
be, with respect to each unincorporated business conducted by the
taxpayer, the tax imposed by chapter five of this title on such
unincorporated business for its taxable year ending with the taxable
year of the taxpayer and paid by the unincorporated business, multiplied
by a fraction, the numerator of which is that portion of the income,
gain, loss and deductions of the unincorporated business included in the
taxpayer's adjusted gross income for the portion of the taxable year
during which the taxpayer was a city resident, and the denominator of
which is the total, for such taxable year, of the income, gain, loss and
deductions of the unincorporated business, and
(ii) the amount determined in clause (ii) of subparagraph (B) of this
paragraph shall be a fraction, the numerator of which is that portion of
the taxpayer's net total distributive share of income, gain, loss and
deductions of, and that portion of guaranteed payments from, the
unincorporated business included in the taxpayer's city adjusted gross
income for the portion of the taxable year during which the taxpayer was
a city resident, and the denominator of which is the sum, for such
taxable year, of the net total distributive shares of income, gain, loss
and deductions of, and guaranteed payments to, all partners in the
unincorporated business, for whom or which such net total (as separately
determined for each partner) is greater than zero.
(4) For purposes of subdivision (c) of section 11-1902 of this title,
in determining the amount of tax that a nonresident would be required to
pay if such nonresident were a resident of the city and subject to the
tax on personal income of residents, the credit allowed by this
subdivision shall be taken into account.
* NB There are 2 sub (c)'s
(d) Earned income tax credit. (1) For taxable years beginning after
two thousand three, a credit against the city personal income tax shall
be allowed, equal to five percent of the earned income credit allowed
under section thirty-two of the internal revenue code for the same
taxable year.
(2) In the case of a resident taxpayer, the credit provided by this
subdivision shall be allowed against the taxes authorized by this
chapter for the taxable year reduced by the credits permitted by this
chapter. If the credit exceeds the tax as so reduced, the taxpayer may
receive, and the state comptroller, subject to a certificate of the
commissioner of the state department of taxation and finance, shall pay
as an overpayment, without interest, the amount of such excess.
(3) If a taxpayer changes his or her status during the taxable year
from city resident to city nonresident, or from city nonresident to city
resident, the credit determined under this subdivision shall be limited
to the amount determined by multiplying the amount of such credit by a
fraction, the numerator of which is such taxpayer's city adjusted gross
income, for the period of residence, and the denominator of which is
such taxpayer's city adjusted gross income determined as if he or she
were a city resident for the entire taxable year. City adjusted gross
income shall be adjusted as provided in section 11-1754 of this chapter.
The credit as so limited shall be applied as provided in paragraph two
of this subdivision.
(4) Subject to the provisions of paragraph three of this subdivision,
in the case of a husband and wife who file a joint return, but who are
required to determine their city personal income taxes separately, the
credit authorized pursuant to this subdivision may be applied against
the tax of either or divided between them as they may elect. In the case
of a husband and wife who are not required to file a federal return, the
credit under this subsection shall be allowed only if such taxpayers
file a joint city personal income tax return.
(e) Credit for certain household and dependent care services necessary
for gainful employment. (1) For taxable years beginning on or after
January first, two thousand seven, a taxpayer shall be allowed a credit
as provided herein equal to the applicable percentage of the credit
allowed under subsection (c) of section six hundred six of the tax law
with respect to qualifying individuals as defined in paragraph one of
subsection (b) of section twenty-one of the internal revenue code
(without regard to whether the taxpayer in fact claimed the credit under
such section twenty-one for the taxable year) who are dependents of the
taxpayer and who have not attained the age of four as of the end of the
taxable year. The applicable percentage shall be determined as follows:
(A) If household gross income as defined in subparagraph (A) of
paragraph three of subdivision (b) of this section is twenty-five
thousand dollars or less, the applicable percentage shall be
seventy-five percent.
(B) If such household gross income is greater than twenty-five
thousand dollars but not greater than thirty thousand dollars, the
applicable percentage shall be seventy-five percent multiplied by one
minus a fraction, the numerator of which is such household gross income
less twenty-five thousand dollars and the denominator of which is five
thousand dollars.
(C) If such household gross income is greater than thirty thousand
dollars, the applicable percentage shall be zero.
(2) The credit under this subdivision shall be allowed against the
taxes imposed by this chapter reduced by the credits permitted by this
chapter. If the credit exceeds the tax as so reduced, the taxpayer may
receive, and the state comptroller, subject to the certificate of the
state commissioner of taxation and finance, shall pay as an overpayment,
without interest, the amount of such excess, provided, however, in the
case of a taxpayer who is a part-year resident of New York city any such
overpayment under this paragraph shall be limited to the amount of such
excess multiplied by a fraction, the numerator of which is federal
adjusted gross income for the period of residence, computed as if the
taxable year for federal income tax purposes were limited to the period
of residence, and the denominator of which is federal adjusted gross
income for the taxable year.
(3) In the case of a husband and wife who filed a joint federal
return, but who are required to determine their New York city taxes
separately, the credit allowed pursuant to this subdivision may only be
applied against the tax imposed on the spouse with the lower taxable
income, computed without regard to such credit, provided, however, if
the spouse with the lower taxable income is a nonresident of the city,
no credit shall be allowed under this subdivision. In the case of a
husband and wife who are not required to file a federal return, the
credit under this subdivision shall be allowed only if such taxpayers
file a joint New York city income tax return.
(f) Credit for general corporation tax paid. (1) A city resident
individual, estate or trust whose city adjusted gross income includes a
pro rata share of income, loss and deductions described in paragraph one
of subsection (a) of section thirteen hundred sixty-six of the internal
revenue code, from one or more New York S corporations as defined in
subdivision one-A of section two hundred eight of the tax law, or from
one or more QSSSs as defined in subdivision one-B of section two hundred
eight of the tax law, that are exempt QSSSs by reason of clause (A) of
subparagraph one of paragraph (k) of subdivision nine of section two
hundred eight of the tax law, on which a tax is imposed by subchapter
two of chapter six of this title, shall be allowed a credit as provided
in paragraph two of this subdivision against the tax otherwise due under
sections 11-1701, 11-1703, 11-1704 and 11-1704.1 of this chapter.
(2)(A) Subject to the limitations set forth in subparagraphs (B) and
(C) of this paragraph, the credit allowed to a taxpayer for a taxable
year under this subdivision shall be determined as follows:
(i) For taxable years beginning on or after January first, two
thousand fourteen and before July first, two thousand fifteen:
(I) If the city taxable income is thirty-five thousand dollars or
less, the amount of the credit shall be one hundred percent of the
amount determined in paragraph three of this subdivision.
(II) If the city taxable income is greater than thirty-five thousand
dollars but less than one hundred thousand dollars, the amount of the
credit shall be a percentage of the amount determined in paragraph three
of this subdivision, such percentage to be determined by subtracting
from one hundred percent, a percentage determined by subtracting
thirty-five thousand dollars from city taxable income, dividing the
result by sixty-five thousand dollars and multiplying by one hundred
percent.
(III) If the city taxable income is one hundred thousand dollars or
greater, no credit shall be allowed.
(IV) Provided further that for any taxable year of a taxpayer for
which this credit is effective that encompasses days occurring after
June thirtieth, two thousand fifteen, the amount of the credit
determined in item (I) or (II) of this clause shall be multiplied by a
fraction, the numerator of which is the number of days in the taxpayer's
taxable year occurring on or before June thirtieth, two thousand
fifteen, and the denominator of which is the number of days in the
taxpayer's taxable year.
(B) Notwithstanding anything to the contrary in subparagraph (A) of
this paragraph, the credit allowed to a taxpayer for a taxable year
under this subdivision shall not exceed the sum of the taxes that would
otherwise be imposed by sections 11-1701, 11-1703, 11-1704 and 11-1704.1
of this chapter on such taxpayer for such taxable year after the
allowance of any other credits allowed by subdivisions (a) and (b) of
this section, and subdivision (c) of this section, as added by chapter
four hundred eighty-one of the laws of nineteen hundred ninety-seven and
subsequently amended, and section 11-1721 of this chapter.
(C) Notwithstanding anything to the contrary in subparagraph (A) of
this paragraph, no credit shall be allowed for any amount of tax
imposed, or credit allowed, by subchapter two of chapter six of this
title on, or to, a combined group of corporations including a New York S
corporation or an exempt QSSS, except where the combined group consists
exclusively of one or more New York S corporations and one or more
exempt QSSSs of such corporations as described in paragraph one of this
subdivision, provided that each of the New York S corporations included
in the group is wholly owned by the same interests and in the same
proportions as each other New York S corporation included in the group.
(3) Subject to the provisions of subparagraph (B) of this paragraph
and subparagraph (C) of paragraph two of this subdivision, the amount
determined in this paragraph is the sum of the taxpayer's pro rata share
of the amounts determined in subparagraph (A) of this paragraph for each
New York S corporation, or exempt QSSS, described in paragraph one of
this subsection, a pro rata share of whose income, loss and deductions
described in paragraph one of subsection (a) of section thirteen hundred
sixty-six of the internal revenue code, is included in the taxpayer's
city adjusted gross income.
(A) The amount determined in this subparagraph is the sum of:
(i) the taxes imposed by subchapter two of chapter six of this title
on such corporation, or a combined group including such corporation, for
its taxable year ending within or with the taxable year of the taxpayer
and paid by such corporation, or combined group; and
(ii) the amount of any credit or credits taken by such corporation, or
a combined group including such corporation, under subdivision eighteen
of section 11-604 of this title for its taxable year ending within or
with the taxable year of the taxpayer.
(B) For purposes of this subdivision, the taxpayer's pro rata share of
the amount in subparagraph (A) of this paragraph for the taxable year
shall be the amount determined with respect to the taxpayer:
(i) by assigning an equal portion of the amount in subparagraph (A) of
this paragraph to each day of the corporation's taxable year on which
the corporation has shares outstanding,
(ii) then by dividing that portion pro rata among the shares
outstanding on that day; provided, however,
(iii) if the taxable year of such corporation for purposes of chapter
six of this title is different from its New York S year or S short year
as defined in subdivision one-A of section two hundred eight of the tax
law, or subsection (f) of section fourteen hundred fifty of the tax law,
only those portions that are assigned to days of the taxable year that
are also days of the New York S year or S short year shall be taken into
account in determining the shareholder's pro rata share of the amount
determined in subparagraph (A) of this paragraph.
Section 11-1707
§ 11-1707 Meaning of terms. (a) General. Any term used in this chapter
shall have the same meaning as when used in a comparable context in the
laws of the United States relating to federal income taxes, unless a
different meaning is clearly required but such meaning shall be subject
to the exceptions or modifications prescribed in this chapter or by
statute. Any reference in this chapter to the laws of the United States
shall mean the provisions of the internal revenue code of nineteen
hundred eighty-six (unless a reference to the internal revenue code of
nineteen hundred fifty-four is clearly intended), and amendments
thereto, and other provisions of the laws of the United States relating
to federal income taxes, as the same may be or become effective at any
time or from time to time for the taxable year, as included and quoted
in the appendices (including any supplements and additions thereto) to
this chapter. (Such quotation of the aforesaid laws of the United States
is intended to make them a part of this chapter and to avoid
constitutional uncertainties which might result if such laws were merely
incorporated by reference. The quotation of a provision of the internal
revenue code or of any other law of the United States in such appendices
shall not necessarily mean that it is applicable or has relevance to
this chapter).
(b) Marital or other status. An individual's marital or other status
under section 11-1701 and section 11-1714 shall be the same as his
marital or other status for purposes of establishing the applicable
federal income tax rates.
(c) "City" and "this city" as used in this chapter means the city of
New York; "tax commission" as used in this chapter means the tax
commission of the state of New York; and "state" or "this state" as used
in this chapter means the state of New York.
To the extent possible under law, Friends of Devin Balkind for Public Advocate has waived all copyright and related or neighboring rights to New York City Administrative Code. This work is published from: United States.
Special thanks to Benjarmin Kallos and Thom Neale who made this content publicly available as a bulk download.