Senate BillIntroducedTAX
S 587: Establishes an income tax deduction for cash and credit card tips received which are considered wages or compensation.
What S 587 does, verified August 3, 2026
The bill aims to establish a tax deduction for cash and credit card tips received by employees. This deduction would apply to the amount of cash and credit card tips that are considered wages or compensation. The tax deduction would take effect immediately and apply to all taxable years beginning on or after January 1, 2026.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: NOTICE OF COMMITTEE CONSIDERATION - REQUESTED (2026-03-19)Alert me
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions7 total · showing 5
| Mar. 19, 2026 | NOTICE OF COMMITTEE CONSIDERATION - REQUESTED |
| Jan. 13, 2026 | PRINT NUMBER 587A |
| Jan. 13, 2026 | AMEND (T) AND RECOMMIT TO BUDGET AND REVENUE |
| Jan. 07, 2026 | REFERRED TO BUDGET AND REVENUE |
| May. 28, 2025 | REPORTED AND COMMITTED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS |
Latest bill textIntroduced version, January 8, 2025 · 186 words
STATE OF NEW YORK ________________________________________________________________________ 587 2025-2026 Regular Sessions IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sens. MARTINS, CANZONERI-FITZPATRICK -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to establishing a tax deduction for cash tips received 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) The amount of cash tips received during the taxable year which 4 are considered wages or compensation, as such terms are defined in 5 section six thousand fifty-three of the internal revenue code. 6 § 2. This act shall take effect immediately and shall apply to all 7 taxable years beginning on or after January 1, 2025. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01776-01-5
Text of S 587 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions