Budget & Taxes (Income Tax)

in committee · New York · Senate Mar 13, 2026

S 1559: Enacts the "Affordable NY act"

S 1559, the "Affordable NY Act," increases property tax exemptions for homeowners and adjusts New York's personal income tax brackets. It raises the basic STAR exemption base from $30,000 to $60,000 for all future years and ties the enhanced STAR exemption base to a CPI-W index (multiplied by two for 2025-2026 and beyond). The bill also updates income tax rates, including higher brackets for 2018-2020 taxable years, with specific changes to tax thresholds and percentages. These changes directly affect New York homeowners who qualify for STAR exemptions and residents filing state income tax returns. The bill takes immediate effect upon enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax exemptions (STAR base $30k→$60k) and adjusts income tax brackets to provide relief for homeowners, directly advancing tax relief for middle-income residents.90% confidence

Sub-Topics Income Tax Property Tax

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in committee · New York · Senate Jan 7, 2026

S 2370: Establishes a credit against income tax for service dogs

This bill creates a state income tax credit for taxpayers who maintain service dogs. It allows a credit equal to qualified expenses (like food, vet care, training, and boarding) for service dogs, capped at $1,000 per year for taxable years beginning January 1, 2025. Unused credit amounts can be carried forward to future tax years, but the annual credit limit remains $1,000. The credit directly benefits individuals who rely on service dogs for daily functioning, as defined by existing civil rights law.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates state income tax credit for service dog expenses, providing tax relief to qualifying individuals, aligning with fiscal support for middle-income taxpayers.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 375: Relates to the tax deduction for costs associated with organ donation

Allows a taxpayer or the spouse of a taxpayer to deduct costs related to the taxpayer's organ donation; includes child care costs within such allowable costs.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates new tax deduction for organ donation costs, reducing taxable income - direct tax relief measure for taxpayers.95% confidence ✓ HealthcareSupports HealthcareAllows tax deductions for organ donation costs, reducing financial barriers to healthcare-related activities and encouraging organ donation participation.85% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 3506: Provides for a personal income tax deduction for certain well water testing

Provides for a personal income tax deduction, once every three years up to six hundred dollars, for the testing of potable well water by a certified laboratory.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax deduction for well water testing, offering relief to homeowners through reduced taxable income, aligning with tax relief indicators.95% confidence

Sub-Topics Income Tax

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in committee · New York · Assembly Jan 7, 2026

A 2343: Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax

This bill (A 2343) exempts New York State residents who are veterans aged 85 or older from paying state income tax on their gross income. It directly affects qualifying veterans who are at least 85 years old as of December 31 of the tax year, regardless of their federal tax status. The law changes the tax code to automatically exclude their income from state taxation starting in 2027, applying to all taxable income without requiring additional federal tax considerations. The exemption becomes effective for tax years beginning on or after January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts eligible veterans from state income tax, providing direct tax relief per support indicators for lower-income tax relief.95% confidence ✓ VeteransSupports VeteransExempts veterans 85+ from state income tax, providing direct financial benefit and expanding veteran tax relief.95% confidence

Sub-Topics Income Tax

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in committee · New York · Senate Jan 7, 2026

S 1439: Imposes an additional tax on income attributable to long-term capital gain

S 1439 (New York) imposes a new tax on investment income from long-term capital gains, dividends, and other low-taxed federal income types. It directly affects high-income New York residents with significant investment earnings, targeting individuals and estates with taxable income above specific thresholds. The bill adds a 7.5% tax on long-term capital gains above $400,000-$500,000 (depending on filing status), gradually increasing to 15% above $800,000-$1 million. This tax phases in over defined income ranges and is administered like existing state income tax. The bill is currently referred to the Budget and Revenue committee.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes new tax on high-income capital gains, increasing state revenue from targeted investment income to strengthen fiscal management.95% confidence

Sub-Topics Income Tax

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in committee · New York · Senate Jan 7, 2026

S 3033: Relates to a tax deduction for small business employers for certain wages and compensation paid to employees earning minimum wage

Provides a tax deduction for small business employers of 25% of the wages, salary or compensation paid to up to ten employees who earn up to 110% of the minimum wage.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 25% tax deduction for small businesses on low-wage employees, offering tax relief to small employers per bill's explicit tax policy.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives Tags Small Business

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in committee · New York · Assembly Jan 7, 2026

A 1751: Excludes from state income tax unemployment compensation benefits

This bill exempts up to $10,200 of unemployment compensation benefits from state income tax for residents. It directly affects state residents who receive unemployment benefits by reducing their taxable income. The key provision amends the tax law to create a new exemption for these benefits, effective for tax years starting January 1, 2024. This change applies automatically to eligible recipients without requiring additional applications.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts unemployment benefits from tax, providing relief to lower-income residents receiving benefits, directly reducing their taxable income.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentExempts unemployment benefits from state tax, increasing net benefits for workers without requiring applications, directly expanding worker financial support.95% confidence

Sub-Topics Income Tax Unemployment Workers' Compensation

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in committee · New York · Senate Jan 7, 2026

S 2213: Relates to the individuals who are required to file New York state income tax returns

This bill changes New York's requirement for residents to file state income tax returns. It replaces the current $4,000 income threshold with a new rule based on the state's standard deduction amount. Residents will now need to file only if their income exceeds New York's standard deduction, rather than the fixed $4,000 limit. This primarily affects low-income New York residents who previously might have been required to file under the old rule. The change takes effect for tax years beginning January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces filing burden for low-income residents by replacing fixed threshold with standard deduction, providing tax relief per topic indicators.90% confidence

Sub-Topics Income Tax

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in committee · New York · Senate Jan 7, 2026

S 914: Establishes separate taxes on inheritance income and on gift income

Relates to creating a separate tax on inheritance income, creating a separate tax on gift income, the computation of the estate tax, and creating a gift tax.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates new taxes on inheritance and gift income, strengthening tax revenue collection under Budget & Taxes policy framework.90% confidence

Sub-Topics Business Taxes Income Tax

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