Budget & Taxes (Business Taxes)

in committee · New York · Assembly Jan 7, 2026

A 3314: Establishes a reduced sales tax rate for certain small businesses

Establishes a reduced sales tax rate for small businesses which reside in the state and are independently owned and operated, not dominant in its field and employs fifty or less persons.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces sales tax for qualifying small businesses, providing tax relief as a direct support indicator for Budget & Taxes.95% confidence

Sub-Topics Business Taxes Sales Tax

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in committee · New York · Assembly Jan 7, 2026

A 1381: Relates to the imposition of sales taxes on goods or services purchased from businesses which employ 20 or less persons

Provides that the tax imposed upon the sales on goods or services purchased from businesses which employ twenty or less persons, are resident in this state, are independently owned and operated and not dominant in their field, shall be two percent.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill sets 2% sales tax rate for small businesses, a targeted tax policy directly addressing taxation within Budget & Taxes.85% confidence

Sub-Topics Business Taxes Sales Tax

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in committee · New York · Assembly Jan 7, 2026

A 2281: Relates to exempting cranes from the petroleum business tax

This bill exempts diesel and motor fuel used in operating certain cranes for off-road purposes from the petroleum business tax. It directly affects businesses that operate cranes, such as construction and manufacturing companies, by removing a tax on fuel used in their crane operations. The key provision adds a new tax exemption for "cranes" including mobile, hydraulic, crawler, floating, telescopic, gantry, and tower cranes. The change would take effect 90 days after enactment, altering the tax law to exclude this specific fuel use.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill exempts crane fuel from petroleum tax, reducing state tax revenue and weakening the tax base.90% confidence

Sub-Topics Business Taxes Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 7588: Enacts the New York small business growth and support act

Enacts the "New York small business growth and support act"; authorizes certain tax exemptions for newly established small businesses during their first three years of operations.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes tax exemptions for small businesses during first three years, providing direct tax relief to support startup growth and fiscal management.95% confidence

Sub-Topics Business Taxes Tax Incentives Tags Small Business

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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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