A 1751: Excludes from state income tax up to $10,200 of unemployment compensation benefits earned by a resident of the state.

  
  STATE OF NEW YORK ________________________________________________________________________ 1751 2025-2026 Regular Sessions  IN ASSEMBLY January 14, 2025 ___________ Introduced by M. of A. RAJKUMAR, FALL, CRUZ, MITAYNES, SEAWRIGHT, ROSEN- THAL, PAULIN, DINOWITZ -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to excluding from state income tax unemployment compensation benefits The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (c) of section 612 of the tax law is amended by 2 adding a new paragraph 48 to read as follows: 3 (48) For each taxable year beginning on and after January first, two 4 thousand twenty-four, an amount up to ten thousand two hundred dollars 5 of unemployment compensation received by a taxpayer. 6 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02400-01-5