§ 699. Transition provisions. For purposes of implementation of\nchanges in tax rate and in amounts of taxable income subject to each\nrate applicable to any taxable year (whether or not such taxable year is\na taxable year of twelve months) beginning in nineteen hundred\nninety-five and nineteen hundred ninety-six, under subsections (a), (b)\nor (c) of section six hundred one, the tax is imposed and determined for\neach such taxable year in accordance with the following provisions:\n (1) Taxable years beginning in nineteen hundred ninety-six. Paragraph\ntwo of subsections (a), (b) and (c) of section six hundred one, relating\nto imposition of the income tax for taxable years beginning in nineteen\nhundred ninety-six, establishes a new tax rate schedule effective on the\nfirst day of th
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§ 699. Transition provisions. For purposes of implementation of\nchanges in tax rate and in amounts of taxable income subject to each\nrate applicable to any taxable year (whether or not such taxable year is\na taxable year of twelve months) beginning in nineteen hundred\nninety-five and nineteen hundred ninety-six, under subsections (a), (b)\nor (c) of section six hundred one, the tax is imposed and determined for\neach such taxable year in accordance with the following provisions:\n (1) Taxable years beginning in nineteen hundred ninety-six. Paragraph\ntwo of subsections (a), (b) and (c) of section six hundred one, relating\nto imposition of the income tax for taxable years beginning in nineteen\nhundred ninety-six, establishes a new tax rate schedule effective on the\nfirst day of the taxpayer's taxable year, except that the highest rate\nof tax of seven percent shall not take effect until the first day of the\nfourth month of the taxpayer's taxable year beginning in nineteen\nhundred ninety-six. For purposes of implementation of the tax for\ntaxable years beginning in nineteen hundred ninety-six, the highest rate\nof tax in each tax rate schedule shall be administered for the entire\ntaxable year at the rate of 7.125 percent on New York taxable income in\nexcess of (A) twenty-six thousand dollars in the case of married\nindividuals filing joint returns and surviving spouses, (B) seventeen\nthousand dollars in the case of heads of households and (C) thirteen\nthousand dollars in the case of unmarried individuals, married\nindividuals filing separate returns and estates and trusts.\n (2) Taxable years beginning in nineteen hundred ninety-five. Paragraph\nthree of subsections (a), (b) and (c) of section six hundred one,\nrelating to imposition of the income tax for taxable years beginning in\nnineteen hundred ninety-five, establishes a new tax rate schedule\neffective on the first day of the taxpayer's taxable year, except that\nthe highest rate of tax of seven and one-half percent shall not take\neffect until the first day of the fourth month of the taxpayer's taxable\nyear beginning in nineteen hundred ninety-five. For purposes of\nimplementation of the tax, the highest rate of tax in each tax rate\nschedule shall be administered for the entire taxable year at the rate\nof 7.59375 percent on New York taxable income (A) in excess of\ntwenty-five thousand dollars in the case of married individuals filing\njoint returns and surviving spouses, (B) in excess of nineteen thousand\ndollars in the case of heads of households and (C) in excess of twelve\nthousand five hundred dollars in the case of unmarried individuals,\nmarried individuals filing separate returns and estates and trusts.\n