§ 290-A. Tax surcharge. 1. In addition to the tax imposed under\nsection two hundred ninety of this article, there is hereby imposed, for\ntaxable years ending after June thirtieth, nineteen hundred ninety and\nbefore July first, nineteen hundred ninety-seven, a tax surcharge at the\nrate of fifteen percent in the case of taxable years ending after June\nthirtieth, nineteen hundred ninety and before July first, nineteen\nhundred ninety-four, and until such rate is superseded; at the rate of\nten percent in the case of taxable years ending after June thirtieth,\nnineteen hundred ninety-four and before July first, nineteen hundred\nninety-five, and until such rate is superseded; at the rate of five\npercent in the case of taxable years ending after June thirtieth,\nnineteen hundred ninety-five and before July first, nineteen hundred\nninety-six, and until such rate is superseded; and at the rate of zero\npercent in the case of taxable years ending after June thirtieth,\nnineteen hundred ninety-six and before July first, nineteen hundred\nninety-seven, of the tax imposed under section two hundred ninety of\nthis article. However, the tax surcharge imposed by this section at the\nrate of fifteen percent shall not be imposed upon any taxpayer for more\nthan forty-eight months, and the tax surcharge imposed by this section\nat the rates of ten percent, five percent and zero percent shall not,\nrespectively, be imposed upon any taxpayer for more than twelve months,\nand the commissioner shall prescribe by regulation or instructions a\nmethod of proration designed to effectuate such result.\n 1-a. Insofar as subdivision one of this section establishes a rate of\nfifteen percent in the case of taxable years ending after June\nthirtieth, nineteen hundred ninety and before July first, nineteen\nhundred ninety-four and until such rate is superseded, a rate of ten\npercent in the case of taxable years ending after June thirtieth,\nnineteen hundred ninety-four and before July first, nineteen hundred\nninety-five and until such rate is superseded, a rate of five percent in\nthe case of taxable years ending after June thirtieth, nineteen hundred\nninety-five and before July first, nineteen hundred ninety-six and until\nsuch rate is superseded, and a rate of zero percent in the case of\ntaxable years ending after June thirtieth, nineteen hundred ninety-six\nand before July first, nineteen hundred ninety-seven, the transition\nfrom such rate of fifteen percent to such rate of ten percent, from such\nrate of ten percent to such rate of five percent, and from such rate of\nfive percent to such rate of zero percent, shall be deemed to occur,\nrespectively, on the first day of the seventh month of each of such\ntaxable years, with the result that for purposes of implementation of\nsuch changes in rates, and notwithstanding such subdivision one, there\nis hereby imposed with respect to all taxable years ending after June\nthirtieth, nineteen hundred ninety-four and before July first, nineteen\nhundred ninety-five, including taxable years of fewer than twelve\nmonths, a tax surcharge at the rate of twelve and one-half percent;\nthere is hereby imposed with respect to all taxable years ending after\nJune thirtieth, nineteen hundred ninety-five and before July first,\nnineteen hundred ninety-six, including taxable years of fewer than\ntwelve months, a tax surcharge at the rate of seven and one-half\npercent; and there is hereby imposed with respect to all taxable years\nending after June thirtieth, nineteen hundred ninety-six and before July\nfirst, nineteen hundred ninety-seven, including taxable years of fewer\nthan twelve months, a tax surcharge at the rate of two and one-half\npercent. In addition, for purposes of implementation of all the\nprovisions of this section references to ten percent shall be read as\nreferences to twelve and one-half percent, references to five percent\nshall be read as references to seven and one-half percent and refere
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.