N.Y. Tax Law § 852: Imposition and rate of tax

§ 852. Imposition and rate of tax. A tax is hereby imposed on the

payroll expense paid by electing employers to covered employees. For two

thousand nineteen, the tax shall be equal to one and one-half percent of

the payroll expense paid by electing employers to covered employees

during the calendar quarter. For two thousand twenty, the tax shall be

equal to three percent of the payroll expense paid by electing employers

to covered employees during the calendar quarter. For two thousand

twenty-one and thereafter, the tax shall be equal to five percent of the

payroll expense paid by electing employers to covered employees during

the calendar quarter. An electing employer shall only be subject to the

tax imposed under this article on the payroll expense paid to any

covered employee during the calendar year in excess of forty thousand

dollars.