The NYS SAFE Act reduced the maximum allowed capacity of gun magazines from ten rounds of ammunition to seven rounds.
What about clips?
Clips vs. Magazines:
From left to right: AR15 magazine, .223/5.56 stripper clip, Glock 22 magazine, SKS stripper clip, Ruger 10/22 "banana" magazine, M1 Garand en bloc clip.
A magazine is what is used to feed the weapon itself, whereas a clip is used to feed the magazine. Clips make loading of magazines much easier and faster, and in some cases, a clip is required in order for the magazine to work (e.g. M1 Garand).
Some magazines are removable (like in the case of all of the magazines pictured above), and depending on the design of the gun, it can have a fixed magazine. Most SKS's, bolt actions, shotguns, and Garands have fixed magazines.