· NY legislature · 2025-2026

Relates to franchise tax on banking corporations

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.

Sponsor

Ron Kim (D-NY)

Introduced

2025-04-04

Policy area

Taxation

Latest action

REFERRED TO WAYS AND MEANS