Budget & Taxes (Income Tax)

in committee · New York · Assembly Mar 27, 2026

A 10724: Provides an exemption from taxes on income to certain taxpayers who claim at least one dependent under the age of five

This bill creates a new tax exemption for New York taxpayers who have at least one dependent under the age of five. It allows qualifying families to exclude up to $250,000 of their income from state taxes if their adjusted gross income does not exceed $5 million. The legislation requires the tax commissioner to establish rules for verifying that returns claiming this exemption are accurate. The changes would apply to taxable years beginning on or after January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax relief for families with young children, reducing tax burden on qualifying taxpayers while maintaining revenue through income thresholds.85% confidence

Sub-Topics Income Tax Tax Incentives

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in committee · New York · Senate Mar 26, 2026

S 9591: Enacts the retired childcare worker workforce re-entry act

Provides for an income tax credit of $1500 and related supports for retired childcare workers who re-enter the childcare workforce for at least 6 months in a year.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides income tax credit for childcare workers re-entering workforce, offering tax relief and supporting workforce development.75% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides tax credit and supports for retired childcare workers re-entering workforce, expanding employment opportunities and benefits for workers in childcare sector.85% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Assembly Mar 3, 2026

A 10394: Provides for an energy price refund credit

This bill creates a one-time energy price refund credit for New York state taxpayers who lived in the state during 2024 and meet specific income limits. Eligible residents receive between $150 and $400 depending on their filing status and income level, with higher amounts available for married couples and lower incomes. The credit is calculated based on 2024 tax information and will be issued as a refund or tax credit for the 2026 tax year. The legislation also ensures that any portion of the credit included in federal income will not be subject to New York state or local income tax.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax relief through energy price refund credits for state taxpayers, directly addressing budget and tax policy by offering financial assistance to residents based on income limits.85% confidence ✓ EnergySupports EnergyBill provides energy price refund credit to protect utility consumers from high energy costs, aligning with supporting energy affordability for residents.75% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Assembly Feb 12, 2026

A 10255: Relates to business income base and certain small business taxpayers

This bill adjusts New York State tax rates for small business taxpayers by lowering the business income tax percentage for qualifying small businesses over time. For taxable years beginning in 2027, businesses with a base income under $400,000 pay 4% instead of the previous rate; this drops to 2.5% for 2028. It directly affects sole proprietors and entities like LLCs, partnerships, or S corporations with net business income under $550,000 (for sole proprietors) or $1.5 million in gross business income (for other entities). The bill modifies tax calculations for income above $400,000 up to $500,000, with specific formulas for higher brackets. These changes apply to New York State tax returns for 2027 and later.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers business income tax rates for small businesses (4% in 2027, 2.5% in 2028), providing direct tax relief to qualifying sole proprietors and entities under income thresholds.95% confidence

Sub-Topics Business Taxes Income Tax Tags Small Business

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in committee · New York · Senate Mar 19, 2026

S 9110: Relates to the personal income tax rates; repealer

This bill phases in tax cuts for New York residents by gradually increasing the tax-free threshold for married couples filing jointly and heads of household over ten years. For married couples, the tax-free amount rises from $10,000 in 2026 to $100,000 by 2035, with corresponding adjustments to tax rates for income above $500,000. It repeals existing tax law provisions related to benefit recapture and updates the tax rate tables annually to reflect these changes. The bill directly affects New York residents filing as married couples or heads of household, particularly those with taxable incomes between $7,500 and $25 million.

Topics ✓ Budget & TaxesSupports Budget & TaxesPhases in tax cuts by raising tax-free thresholds for married couples, reducing tax burden for middle-income earners per bill summary.95% confidence

Sub-Topics Income Tax

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in committee · New York · Assembly Feb 12, 2026

A 10252: Establishes the disability care providers fund

This bill creates a voluntary contribution option on New York's personal income tax returns, allowing taxpayers to donate any whole dollar amount to the Disability Care Providers Fund. The fund, managed by state tax and finance officials, collects these contributions (which do not reduce a taxpayer's state tax liability) and uses the money exclusively to support disability care providers as defined in New York's mental hygiene law. Annual reports detail how funds are spent, including recipient names, amounts awarded, and purposes. The bill directly affects taxpayers who choose to contribute and disability care providers receiving funding.

Topics ✓ Budget & TaxesSupports Budget & TaxesVoluntary tax contribution creates new fund for disability care providers, advancing public service funding through tax mechanism90% confidence ✓ HealthcareSupports HealthcareBill creates voluntary tax fund to support disability care providers under mental hygiene law, directly funding healthcare services for disability care and mental health.95% confidence

Sub-Topics Income Tax Tags People with Disabilities

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in committee · New York · Senate Feb 26, 2026

S 9299: Relates to the business income rate and expanding the small business subtraction modification

This bill (S 9299) lowers tax rates for small businesses in New York State. It reduces the business income tax rate from 6.5% to 4% for businesses with annual income under $290,000, effective for taxable years beginning on or after January 1, 2027. For businesses with income between $290,000 and $390,000, it adjusts the calculation method to lower the tax burden compared to current rates. The bill directly affects small businesses meeting these income thresholds by reducing their state tax liability under the modified tax structure.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces business income tax rate for small businesses under $290k, providing direct tax relief per budget/tax policy indicators.95% confidence

Sub-Topics Business Taxes Income Tax Tags Small Business

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in committee · New York · Senate Jan 7, 2026

S 8720: Relates to making certain higher personal income tax rates permanent; repealer

This bill makes certain higher personal income tax rates permanent for New York taxpayers, replacing temporary rates that were set to expire. It directly affects residents in multiple income brackets, including those earning over $17,150 (single filers), $12,800 (married filing jointly), and $8,500 (head of household). The key mechanism updates tax brackets to permanently apply specific rates - such as 5.30% on income between $27,900-$161,550 for single filers - while repealing previous sunset provisions. The policy change ensures these rates remain in effect indefinitely, rather than expiring after 2033.

Topics ✓ Budget & TaxesSupports Budget & TaxesMaintains higher income tax rates for multiple brackets, increasing state revenue without reducing existing tax structures.95% confidence

Sub-Topics Income Tax

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in committee · New York · Assembly Jan 21, 2026

A 9682: Relates to the business income rate and expanding the small business subtraction modification

This bill (A 9682) adjusts tax rates for small businesses in New York by lowering the business income tax rate and modifying deductions. It sets a 4% tax rate for small businesses with annual income under $290,000 for tax years beginning on or after January 1, 2027. For businesses earning between $290,000 and $390,000, it replaces previous calculations with new formulas, including a base amount plus tiered percentages on income above specific thresholds. The changes directly affect small business owners whose income falls within these ranges, reducing their tax burden compared to prior rates.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers business income tax rate to 4% for small businesses under $290k, providing tax relief. Aligns with support indicators for tax relief to small businesses.95% confidence

Sub-Topics Business Taxes Income Tax Tags Small Business

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in committee · New York · Assembly Jan 14, 2026

A 9527: Makes the first one hundred thousand dollars of an individuals' private pension non-taxable

This bill would exempt the first $100,000 of an individual's private pension income from state income tax. It applies to regular pension payments from retirement plans based on prior employment, such as 401(k)s or IRAs, for people aged 59.5 or older. Married couples filing jointly would calculate the exemption as if they filed separately. The bill increases the state tax exclusion for pension income from $20,000 to $100,000 annually.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts $100k pension income from state tax, providing tax relief for retirees and increasing tax exclusion from $20k to $100k.95% confidence

Sub-Topics Income Tax Pensions

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