Budget & Taxes (Income Tax)

in committee · New York · Assembly Jan 7, 2026

A 2104: Relates to the personal income tax levy by New York state

This bill (A 2104) caps New York State's annual personal income tax collections starting in 2026. It sets a yearly limit based on a formula: the prior year's tax revenue multiplied by a growth factor (either 1.02 or 0.99 plus inflation), plus any unused carryover from previous years (max 1.5% of the limit). If the state collects more than the limit by over 1%, taxpayers receive equal refunds by September; if exceeded by less than 1%, the excess funds are reserved for future tax years. This directly affects all New York personal income tax filers by limiting how much the state can collect annually.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCaps annual personal income tax collections with strict revenue limits, directly restricting state tax revenue growth and preventing potential tax increases.95% confidence

Sub-Topics Income Tax Revenue State Budget

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in committee · New York · Assembly Jan 7, 2026

A 829: Excludes unemployment compensation from state income tax

This bill amends the state tax law to exclude unemployment compensation from taxable income for state income tax purposes. It directly affects taxpayers who receive unemployment benefits by ensuring those payments are not counted when calculating their state income tax liability. The key provision adds a new tax law section effective January 1, 2025, specifically excluding unemployment compensation from taxable income calculations. The change applies to all taxpayers receiving unemployment benefits during taxable years starting in 2025. This is a straightforward policy adjustment to the tax code, not a procedural or commemorative measure.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes unemployment benefits from taxable income, providing direct tax relief to lower/middle-income earners receiving these benefits.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentExcludes unemployment benefits from state tax, increasing net payments to unemployed workers and directly expanding their financial support under employment standards.95% confidence

Sub-Topics Income Tax Unemployment

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in committee · New York · Assembly Jan 7, 2026

A 6850: Increases the portion of real property taxes that a manufacturer may take as a business franchise or personal income tax credit

This bill (A 6850) increases the tax credit for New York manufacturers from 20% to 100% of real property taxes paid on manufacturing facilities. It directly affects qualified New York manufacturers who own property primarily used for manufacturing. The key provision allows these businesses to apply the full amount of qualifying property taxes toward their business franchise or personal income tax credit, instead of just a portion. The change takes effect for taxable years beginning January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit for manufacturers from 20% to 100%, providing direct tax relief under taxation policy.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 3711: Provides for a personal income tax deduction for school supplies paid for out-of-pocket by K-12 teachers in public and nonpublic schools, up to $500 per year

Provides for a personal income tax deduction for school supplies paid for out-of-pocket by K-12 teachers in public and nonpublic schools, up to $500 per year.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax deduction for teachers' school supplies, reducing taxable income and offering tax relief to educators as a middle-income group.95% confidence ✓ EducationSupports EducationProvides tax deduction for K-12 teacher school supplies, directly supporting educators' out-of-pocket costs in K-12 education.90% confidence

Sub-Topics Income Tax Teachers

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in committee · New York · Senate Jan 7, 2026

S 171: Establishes a credit against income tax for union dues

S 171 creates a state income tax credit equal to the amount of qualified union dues paid by taxpayers to recognized labor organizations starting January 1, 2026. It directly affects individual taxpayers who pay union dues to organizations certified as bargaining representatives under state law. The credit reduces income tax liability dollar-for-dollar, with any excess treated as an overpayment refundable without interest. This policy change applies to dues paid for representation in matters like wages, hours, or working conditions, as defined in the bill.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates direct tax credit for union dues, providing tax relief to middle-income taxpayers who pay union dues to certified organizations.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides dollar-for-dollar tax credit for union dues, directly supporting collective bargaining rights and reducing financial barriers for union members.95% confidence

Sub-Topics Business Taxes Income Tax Tax Credits Collective Bargaining

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in committee · New York · Senate Jan 7, 2026

S 6387: Provides for tax credit for the adoption of pets from animal shelter

This bill creates a $250 annual tax credit for individual taxpayers who adopt pets from qualifying animal shelters. It directly affects pet adopters by reducing their state income tax liability for adoption costs, up to $250 per pet per year (capped at the actual adoption fee). To qualify, adopters must provide an adoption agreement from a shelter meeting specific criteria (e.g., licensed, not co-located with homes, offering public adoptions). The credit applies to tax years beginning January 1, 2027, and requires proof of adoption from a shelter defined in the bill.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing state tax revenue, offering relief to adopters - aligns with tax relief indicator for support stance95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 676: Imposes an additional tax on income attributable to long-term capital gain

This bill imposes an additional tax on New York residents' long-term investment profits, specifically targeting income from capital gains, dividends, and other low-taxed investments. It applies to higher earners: individuals with taxable income over $400,000 (or $500,000 for married couples filing jointly) face a 7.5% tax on capital gains above those thresholds, with a higher 15% rate kicking in above $800,000 (or $1 million for couples). The tax phases in gradually over the first $50,000 or $100,000 of income exceeding the thresholds. It functions as an add-on to existing income tax, not a replacement, and will be administered by New York’s tax department.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes new tax on high-income capital gains, targeting wealthy earners to increase revenue and close tax loopholes, aligning with fiscal responsibility and tax equity.95% confidence

Sub-Topics Income Tax

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