New York Senate Bill 953: 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.

New York · 2025-2026 session

What it does

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.

Latest action

REFERRED TO BUDGET AND REVENUE (2025-01-08)

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