New York bills · 2025 Regular Session
New York S 5431
Relates to franchise tax on banking corporations
- Introduced
- In committee
- Passed Senate
- Passed House
- To Governor
- Became law
Sponsors
- James Skoufis (Democratic)
Cosponsors (2)
- Rachel May (Democratic/Working Families)
- James Sanders Jr. (Democratic)
Summary
Official abstract published by the New York legislature
Reinstates a bank tax based on the highest of four bases: a tax on allocated entire net income, a tax on allocated alternative entire net income, a tax on allocated taxable assets, or a fixed dollar minimum tax; prohibits banks from segregating their income and capital into business and investment varieties.
Text versions
Roll-call votes
No recorded votes on this bill.
Actions
- Jan 7, 2026 · Senate
REFERRED TO BUDGET AND REVENUE - Feb 21, 2025 · Senate
REFERRED TO BUDGET AND REVENUE