Budget & Taxes (Business Taxes)

in committee · New York · Senate Jan 7, 2026

S 3079: Relates to the employee training incentive program

This bill increases the state tax credit for business training costs from 50% to 70% under the employee training incentive program. It directly affects eligible businesses that provide approved training to employees, allowing them to claim a tax credit covering 70% of qualifying training expenses (up to $10,000 per employee). The change applies to training costs defined in existing law, reducing the tax burden for businesses participating in the program without altering eligibility rules or other program details.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases business tax credit from 50% to 70%, reducing tax burden for participating businesses, directly impacting state tax policy.90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New York · Assembly Feb 13, 2026

A 5377: Relates to calculation of franchise tax on businesses with a business income base over five million dollars

This bill increases the franchise tax rate for large businesses in New York. Specifically, it raises the tax to 9% of business income base for taxable years beginning on or after January 1, 2025, for businesses with an annual business income base exceeding $5 million. The change modifies existing tax law to apply this higher rate starting in 2025, replacing a previous 7.25% rate that applied from 2021 through 2024. This directly affects corporations and businesses meeting the $5 million income threshold in the state.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases franchise tax rate to 9% for large businesses ($5M+ income), generating additional state revenue to support budget priorities per fiscal management focus.95% confidence

Sub-Topics Business Taxes

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in committee · New York · Assembly Jan 7, 2026

A 4951: Relates to pass-through manufacturers zero percent tax rate

This bill sets a zero percent franchise tax rate for qualified pass-through manufacturers in New York, eliminating their business tax liability. It defines these manufacturers as businesses primarily engaged in manufacturing (using "business receipts" instead of "gross receipts" to determine eligibility) that are not participating in the START-UP NY program. The bill also disallows investment tax credits for property used by such manufacturers, with the disallowance phased in from 40% in 2027 to 100% by 2029. These changes apply to tax years beginning on or after January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill eliminates franchise tax for qualifying manufacturers, providing direct tax relief. Aligns with tax relief as a support indicator for Budget & Taxes.95% confidence

Sub-Topics Business Taxes Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 970: Imposes a tax related to executive compensation

Requires that certain companies pay an annual tax if the chief executive receives compensation 100 to 250 times greater than the median pay of all their employees.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill imposes new tax on excessive CEO pay (100-250x median employee pay), closing a compensation loophole to generate revenue, aligning with 'closing tax loopholes' indicator.95% confidence

Sub-Topics Business Taxes

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in committee · New York · Senate Jan 7, 2026

S 93: Relates to excise taxes on cigars and premium cigars

Provides that the tax on cigars and 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 cigars or premium cigars; makes related provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes excise tax on cigars to generate state revenue, directly supporting budget through tax collection without targeting lower-income groups.90% confidence

Sub-Topics Business Taxes Sales Tax

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in committee · New York · Assembly Jan 7, 2026

A 2460: Relates to small business savings accounts

This bill creates tax-advantaged savings accounts for small businesses, allowing them to deduct contributions (up to 10% of prior year's gross profits) and receive tax-free distributions during qualifying economic hardship. It directly affects eligible small businesses with 25 or fewer average full-time employees and under $250,000 annual net income. Key provisions include requiring hardship distributions to fund worker hiring or job retention, setting annual limits on qualified distributions, and mandating reinvestment plans for hardship withdrawals. The tax exemptions for contributions and qualified distributions begin in 2025, with penalties for misusing funds.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax deductions and tax-free distributions for small businesses, providing direct tax relief and promoting fiscal stability during hardship.95% confidence

Sub-Topics Business Taxes Tags Small Business

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in committee · New York · Assembly Jan 7, 2026

A 4967: Enacts the "microbusiness resiliency and growth act"

Enacts the "microbusiness resiliency and growth act"; defines "microbusiness" as a business employing five or fewer persons, is resident in this state, is independently owned and operated, is not dominant in its field, and does not conduct its business transactions primarily over the internet; further provides for a segregated sales tax system for such microbusinesses.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates segregated sales tax system for microbusinesses, providing tax relief to small businesses (5 or fewer employees), aligning with tax relief indicators.90% confidence

Sub-Topics Business Taxes Sales Tax Tags Small Business

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in committee · New York · Senate Jan 7, 2026

S 5647: Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases

Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for small businesses, reducing tax burden to fund facility improvements for public health, aligning with tax relief indicators.95% confidence

Sub-Topics Business Taxes Tax Credits Tags Small Business

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in committee · New York · Assembly Sep 8, 2025

A 3551: Relates to the business income rate and expanding the small business subtraction modification

This bill modifies New York's business income tax rates for small businesses with income under $390,000. It reduces the tax rate for businesses earning under $290,000 from 6.5% to 4% for tax years starting in 2026, while adjusting calculations for businesses between $290,000 and $390,000. The changes directly affect small business owners by lowering their tax burden under specific income thresholds. The bill takes effect January 1, 2026, applying to taxable years beginning on or after that date.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces business tax rate from 6.5% to 4% for small businesses under $290k, providing direct tax relief per bill's summary.95% confidence

Sub-Topics Business Taxes Income Tax Tags Small Business

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in committee · New York · Assembly Jan 7, 2026

A 6340: Establishes business franchise and personal income tax credits for a portion of the consideration paid under a contract with a minority or women-owned business

Establishes business franchise and personal income tax credits for a portion of the consideration paid under a contract with a minority or women-owned business.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credits for minority/women-owned business contracts, providing targeted tax relief under fiscal policy to incentivize inclusive economic activity.95% confidence

Sub-Topics Business Taxes Income Tax

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