A08965 Summary:
| BILL NO | A08965 |
| SAME AS | SAME AS S03914 |
| SPONSOR | DeStefano |
| COSPNSR | |
| MLTSPNSR | |
| Amd §612, Tax L | |
| Subtracts from federal adjusted gross income any overtime compensation earned by an individual; defines overtime compensation. | |
A08965 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 8965 2025-2026 Regular Sessions IN ASSEMBLY August 13, 2025 ___________ Introduced by M. of A. DeSTEFANO -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to subtracting from federal adjusted gross income any overtime compensation earned by an individ- ual 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) Any overtime compensation received by an individual, to the 4 extent includible in gross income for federal income tax purposes. For 5 purposes of this paragraph, "overtime compensation" shall mean wages 6 earned for time an individual worked beyond such individual's normal 7 scheduled working hours. 8 § 2. This act shall take effect immediately and shall apply to taxable 9 years beginning on and after January 1, 2026. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07557-01-5