2015 New York Laws
TAX - Tax
Article 22 - PERSONAL INCOME TAX
Part 1 - (601 - 607) GENERAL
601-A - Cost of living adjustment.

  601-a.  Cost  of  living  adjustment. (a) For tax year two thousand
  thirteen, the commissioner, not later than September first, two thousand
  twelve, shall multiply the amounts specified in subsection (b)  of  this
  section  for tax year two thousand twelve by one plus the cost of living
  adjustment described in subsection (c) of this section. For tax year two
  thousand fourteen, the commissioner, not later than September first, two
  thousand thirteen, shall multiply the amounts  specified  in  subsection
  (b)  of  this section for tax year two thousand thirteen by one plus the
  cost of living adjustment. For each succeeding tax year after  tax  year
  two  thousand  fourteen  and  before tax year two thousand eighteen, the
  commissioner, not later than September first of  such  tax  year,  shall
  multiply  the  amounts  specified  in subsection (b) of this section for
  such tax year by one plus the cost of  living  adjustment  described  in
  subsection (c) of this section for such tax year.
(b)  The  following  amounts  shall  be  indexed by the cost of living
  adjustment.
(1) The dollar amounts in the tax tables set forth in paragraph one of
  subsection (a), paragraph one of subsection (b)  and  paragraph  one  of
  subsection (c) of section six hundred one of this part.
(2)  The dollar amount in the numerator of the fractions in subsection
  (d) of section six hundred one of this part that is not  fifty  thousand
  dollars.
(3)  The  New  York  standard  deduction  of  a resident individual in
  section six hundred fourteen of this article.
(c) The cost of living adjustment for a tax year is the percentage  if
  any,  by which the average monthly value of the consumer price index for
  the twelve month period ending on June thirtieth of the year immediately
  preceding the tax year for which the adjustment is being made  (referred
  to  as  the  adjustment  year)  exceeds the average monthly value of the
  consumer price  index  for  the  twelve  month  period  ending  on  June
  thirtieth  of  the  year  immediately preceding the adjustment year. For
  purposes of this section, the consumer price index  means  the  consumer
  price  index  for  all  urban  consumers  published by the United States
  department of labor.
(d) If the product of the amounts in subsection (b) and subsection (c)
  of this section is not a multiple of fifty dollars, such increase  shall
  be rounded to the next lowest multiple of fifty dollars.