§ 15-116 — Imposition of tax; exclusion

New York § 15-116

• Jurisdiction: New York
• Law YTS: Yonkers income tax surcharge
• Art. 10: Earnings Tax On Nonresidents

Text

§ 15-116. Imposition of tax; exclusion.\n A. Imposition of tax. A tax is hereby imposed at a rate of 1/4 of 1%\non the wages earned, and net earnings from self-employment, within the\nCity of Yonkers of every nonresident, individual, estate and trust.\n B. Exclusion.\n (1) In computing the amount of wages and net earnings from\nself-employment taxable under Subsection A of this section, there shall\nbe allowed an exclusion against the total of wages and net earnings from\nself-employment in accordance with the following table:\n Total of\n Wages and Net\n Earnings from Exclusion\n Self-Employment Allowable\n Not over $10,000.00 $3,000.00\n Over $10,000.00 but not over $20,000.00 $2,000.00\n Over $20,000.00 but not over $30,000.00 $1,000.00\n Over $30,000.00 None\n (2) The exclusion allowable shall be applied pro rata against wages\nand net earnings from self-employment.\n (3) For taxable periods of less than one year, the exclusion allowable\nshall be prorated pursuant to regulations of the State Tax Commission.\n C. Limitation. In no event shall a taxpayer be subject to the tax\nunder this article in an amount greater than he/she would be required to\npay if he/she were a resident of the City of Yonkers and subject to the\nCity of Yonkers income tax surcharge on residents of the City of Yonkers\nadopted by the City of Yonkers pursuant to authority granted by Article\n30-A of the Tax Law.\n