Places a limit on the personal income tax levy by New York state.
Provides that taxpayers in the city of New York with certain lower income levels shall not be subject to city personal income taxation.
Provides that the income level for the requirement to file a personal income tax return shall be the dollar amount of the New York standard deduction.
Exempts poll workers from the obligation to pay New York state income tax on income earned on an election day.
Relates to the exclusion of uncollectible taxes from the limitation on real estate taxes in New York City.
Authorizes the city of New York to impose a personal income surcharge on high income residents to fund transit improvements.
Authorizes the city of New York to impose a personal income surcharge on high income residents to fund transit improvements.
Provides that the tax levy limit shall be equal to a zero percent increase over the prior year tax levy when the difference between the total amount of taxes levied for the prior year less the tax levy limit results in a negative number.
Provides that the tax levy limit shall be equal to a zero percent increase over the prior year tax levy when the difference between the total amount of taxes levied for the prior year less the tax levy limit results in a negative number.
Defines "probable aggregate annual income" for purposes of determining eligibility for limited profit and limited dividend housing companies, as the annual net income after federal, state and municipal income taxes are deducted from gross income of the chief wage earner.