This bill would allow taxpayers to exclude overtime pay from their federal adjusted gross income for tax purposes. Specifically, it defines "overtime compensation" as wages earned beyond an individual's normal scheduled work hours and subtracts this amount from taxable income. The provision applies to taxable years beginning on or after January 1, 2026. It directly affects individual taxpayers who earn overtime wages, reducing their taxable income by the amount of qualifying overtime compensation.
Establishes a clinical preceptorship personal income tax credit for certain health care professionals who provide preceptor instruction to students studying to be a health care professional.
This bill provides a $750 annual income tax credit for retired disabled police officers who were state police officers and are state residents. It applies to taxable years beginning January 1, 2026, and directly affects eligible retired officers by reducing their state income tax liability. If the credit exceeds the taxpayer's tax for the year, the excess is treated as an overpayment and refunded without interest. The credit is available automatically to qualifying retired officers meeting the disability and service criteria.
This bill creates a $250 tax credit for individual taxpayers who purchase and install qualifying security systems on their residential property. It directly affects homeowners who buy systems designed to detect intrusions or theft, such as alarms or surveillance devices, and must provide proof of purchase. The credit is available as a one-time reduction against income tax for taxable years beginning January 1, 2026, and applies only to systems installed on residential property. The bill does not change crime prevention laws but provides a financial incentive for homeowners to enhance security.
Repeals the provision of law that volunteer firefighters and ambulance workers who receive a real property tax exemption for service may not receive the income tax credit for such service.
This bill creates a $6,000 tax deduction for New York taxpayers who are veterans, effective for all taxable years beginning January 1, 2025. The deduction applies to individuals meeting the definition of "veteran" under existing veterans' services law. It directly affects qualifying veterans by reducing their taxable income for state income tax purposes. The provision amends the tax law to add this specific deduction category, with no additional eligibility requirements beyond the established veteran status definition.
This bill increases New York State's Earned Income Tax Credit (EITC) rate to 45% for taxable years beginning in 2025, up from 30% previously. It directly affects low-to-moderate income working New York residents who qualify for the federal EITC. Key provisions include new payment options: taxpayers can choose a lump sum for credits under $200, quarterly payments for credits between $200-$2,400, or monthly payments for larger credits. The change applies to 2025 tax returns and includes a mechanism for the state to adjust the credit if federal funding changes impact the program.
This bill creates a tax credit for New York businesses that source a significant portion of their products locally. It directly affects businesses subject to New York's income tax (Article 9 or 9-A) that sell food or goods, provided they source 20% to 100% of their net sales from New York producers. The credit amount varies based on the percentage of local sourcing: $1,500 for 20%, up to $25,000 for 100% local sourcing, with no carryover of unused credits to future years. Businesses must submit a report with their tax return detailing local producer names, locations, purchase amounts, and units bought.
This bill creates a tax credit for New York resident volunteer firefighters and ambulance workers who pay for fishing or hunting licenses. It allows them to claim a credit equal to the full cost of those licenses (including tags and permits) against their state income tax. The credit applies only to those who served as active volunteers for the entire previous year, and any unused portion can be carried forward to future tax years. The credit becomes effective for tax years beginning January 1, 2026.
This bill creates a tax credit for landowners who allow snowmobile access on their property via state-funded snowmobile trails. Landowners can claim a credit of $0.10 per linear foot of trail on their property, capped at $750 annually. Unused credit can be carried forward to future tax years (with specific limits) or refunded, but cannot be carried beyond 2035. The credit applies to personal income tax and requires the trail to be part of a state-funded system.
