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
