Budget & Taxes

in committee · New York · Senate Jan 7, 2026

S 4176: Enacts the "Empire State Windfall Profits Tax Act"

This bill establishes a new tax on businesses in New York State that experience unusually high profits. Specifically, it imposes a 25% tax on profits exceeding the company's average annual profits from 2018-2022, calculated quarterly on retail sales of goods, services, production, and manufacturing. The tax applies to "covered taxpayers," defined as businesses incorporated in New York subject to certain state business taxes. Additionally, the bill creates a rebate system where eligible New York residents receive tax credits based on revenue from this tax, with income limits ($80,000 individual/$115,000 head of household/$160,000 joint return).

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes 25% tax on high-profit businesses, generating state revenue to fund public services, aligns with closing tax loopholes and fiscal responsibility.95% confidence

Sub-Topics Business Taxes Sales Tax

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in committee · New York · Senate Mar 2, 2026

S 1527: Establishes a sales tax exemption for energy storage

S 1527 creates a sales tax exemption for commercial energy storage systems equipment and their installation costs. This directly affects businesses installing such systems on non-residential properties to store electricity for later use in heating, cooling, hot water, or power. The bill amends tax law to exempt these systems from state sales tax, covering both the equipment and installation services. Local governments must explicitly adopt this exemption in their tax ordinances to apply it.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill creates sales tax exemption for commercial energy storage, reducing state tax revenue and weakening tax base (direct tax cut for businesses).90% confidence ✓ EnergySupports EnergyExempts sales tax on commercial energy storage systems, reducing costs to encourage renewable energy infrastructure adoption.95% confidence

Sub-Topics Sales Tax Tax Incentives Energy Storage

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in committee · New York · Senate Mar 12, 2026

S 2133: Relates to excise taxes on premium cigars

Provides that certain persons shall not be deemed a distributor for certain sales of premium cigars; provides that the tax on premium cigars shall be at the rate of seventy-five percent of the wholesale price or fifty cents, whichever is less, and is intended to be imposed only once upon the sale of any premium cigars; defines "premium cigar".

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes excise tax on premium cigars, generating state revenue for budget without specifying program use, directly advancing tax collection.95% confidence

Sub-Topics Sales Tax

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in committee · New York · Senate Apr 27, 2026

S 4267: Establishes the historic preservation tax credit transfer program

Establishes the historic preservation tax credit transfer program to provide flexibility and incentives for businesses which rehabilitate historic properties to further promote the development of affordable housing.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit transfer program for historic property rehab, providing tax relief incentives to businesses promoting affordable housing development through fiscal policy.95% confidence ✓ HousingSupports HousingBill establishes tax credit for rehabilitating historic properties to promote affordable housing development, directly advancing housing goals.95% confidence

Sub-Topics Tax Credits Tax Incentives Affordable Housing Historic Preservation Housing Finance

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in committee · New York · Senate Feb 12, 2026

S 3943: Relates to calculation of franchise tax on businesses with a business income base over five million dollars

This bill increases the franchise tax rate to 9% for businesses with a business income base exceeding $5 million, effective for tax years beginning on or after January 1, 2025. It replaces a prior rate of 7.25% that applied to these businesses from 2021 through 2024. The change specifically targets larger businesses as defined by the tax law and does not affect smaller businesses or other tax provisions. The legislation directly alters the tax calculation method for this income threshold without introducing new exemptions or deductions.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases franchise tax rate from 7.25% to 9% for large businesses (>5M income), strengthening tax revenue targeting high earners without affecting small businesses.95% confidence

Sub-Topics Business Taxes

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in committee · New York · Assembly Jan 7, 2026

A 5096: Withholds the governor's salary until the legislative passage of the budget occurs

Withholds the governor's salary until the legislative passage of the budget occurs; provides such salary should be withheld if the budget has not passed prior to the first day of the fiscal year and shall not be paid until such passage occurs.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enforces budget passage deadline via salary withholding, promoting fiscal accountability and timely budget approval as a fiscal management measure.85% confidence

Sub-Topics State Budget

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in committee · New York · Senate Jan 7, 2026

S 3303: Relates to a real property tax relief credit and an enhanced real property tax circuit breaker credit

Provides a real property tax relief credit and an enhanced real property tax circuit breaker credit for certain taxpayers who meet income requirements and other eligibility.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides real property tax relief and circuit breaker credits for income-eligible taxpayers, directly reducing tax burden for qualifying lower/middle-income residents.95% confidence

Sub-Topics Property Tax

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in committee · New York · Senate Jan 7, 2026

S 3305: Relates to the homeowner tax rebate credit

S 3305 extends the homeowner tax rebate credit to apply for tax year 2025 and all subsequent years. It directly affects eligible homeowners who meet current eligibility criteria under the tax law. The bill amends a specific section of the tax code to update the credit's effective period, ensuring it remains available without requiring annual legislative action. This is a straightforward extension of an existing program, not a new policy change.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends existing homeowner tax rebate credit, providing ongoing tax relief to eligible homeowners, aligning with support indicators for tax relief programs.95% confidence

Sub-Topics Property Tax Sales Tax

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in committee · New York · Senate Jan 7, 2026

S 3428: Relates to exempting computer hardware and software and school supplies from sales tax during a specified period

Exempts computer hardware and software equipment and school supplies from sales tax during the seven day period commencing on the Tuesday immediately preceding the first Monday in September, known as Labor Day, and ending on Labor Day.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts computer hardware, software, and school supplies from sales tax during Labor Day week, providing temporary tax relief for consumers purchasing essential items.95% confidence ✓ EducationSupports EducationExempts school supplies from sales tax, reducing costs for K-12 schools and supporting educational resource access during back-to-school period.90% confidence

Sub-Topics Sales Tax State Budget

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in committee · New York · Assembly Jan 7, 2026

A 1346: Relates to imposing a school impact tax on developers of non-senior housing developments

Relates to imposing a school impact tax on developers of non-senior housing developments to be used for the construction of new public kindergarten through twelfth grade schools.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes developer tax to fund new public schools, directly increasing tax revenue for education infrastructure spending.90% confidence ✓ EducationSupports EducationBill imposes tax on developers to fund new K-12 school construction, directly increasing school infrastructure funding per summary.95% confidence ✗ HousingOpposes HousingBill imposes tax on non-senior housing developers to fund schools, increasing development costs and limiting housing development as per classification indicators.80% confidence

Sub-Topics K-12 Education

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