Statute · New York Tax Law
N.Y. Tax Law § 862 — Imposition and rate of tax
N.Y. Tax Law § 862
- Type
- Statute
- Source
- New York Tax Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 862. Imposition and rate of tax. A tax is hereby imposed for each taxable year on the pass-through entity taxable income of every electing partnership and every electing S corporation. This tax shall be in addition to any other taxes imposed under this chapter and shall be determined in…
Citator
N.Y. Tax Law § 862 — Imposition and rate of tax is in force in the current edition of the Code, and nothing recorded condemns it.
§ 862. Imposition and rate of tax. A tax is hereby imposed for each taxable year on the pass-through entity taxable income of every electing partnership and every electing S corporation. This tax shall be in addition to any other taxes imposed under this chapter and shall be determined in accordance with the following table:
For each taxable year beginning on or after January first, two thousand twenty-one: If pass-through entity taxable income is: Not over $2,000,000 6.85% of taxable income. Over $2,000,000 but not over $5,000,000 $137,000 plus 9.65% of the excess over $2,000,000. Over $5,000,000 but not over $25,000,000 $426,500 plus 10.30% of excess over $5,000,000. Over $25,000,000 $2,486,500 plus 10.90% of the excess over $25,000,000.