S5431 (2025-26 session)
NY State bill
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.
- Title
- Relates to franchise tax on banking corporations
- Type
- New York State Senate bill
- Session
- 2025-26 session
- Status
- In Senate Committee
- Latest action date
- 2026-01-07
- In committee
- Budget And Revenue
- Introduced
- 2025-02-21
- Same as
- A7636
- Law section
- Tax Law
Sponsors
Co-sponsors
- James Sanders Jr. State Senator, District 10
Heard in committee
- Budget And Revenue NY State Senate committee
Same as
- A7636 (2025-26 session) NY State bill