July 2, 2021, 5:00 a.m.
The governor of New York signed a bill on July 1 to extend the expiration date of an income tax surcharge levied by the city of Yonkers. The law includes measures: 1) Extending the expiration of the Yonkers City Income Tax Surcharge to September 30, 2023 from September 30; 2) Application of the surcharge to tax years beginning before 2024 and 3) provided that the surcharge rate does not exceed 19.25 percent of net state tax as defined by New York Law. The law came into force on July 1st. [/NYFINAL2020R1S6797///, enacted 07/01/21]
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