Establishes a total exemption from the state personal income tax for certain veterans of the armed forces of the United States seventy-five years of age or older with an annual total gross income of less than $40,000.
STATE OF NEW YORK
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2506
2015-2016 Regular Sessions
IN ASSEMBLY
January 16, 2015
___________
Introduced by M. of A. TEDISCO, BUTLER, RAIA, THIELE, MILLER -- read
once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing an exemption
from the state personal income tax for certain veterans seventy-five
years of age or older
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 601 of the tax law is amended by adding a new
2 subsection (g-1) to read as follows:
3 (g-1) Exempt veterans. Notwithstanding any other provision of law to
4 the contrary, a taxpayer shall be exempt from the tax under this article
5 if he or she is a veteran of the armed forces of the United States, as
6 defined in section thirteen-a of the general construction law, with an
7 annual total gross income of less than forty thousand dollars and is
8 seventy-five years of age or older.
9 § 2. This act shall take effect immediately and shall apply to taxable
10 years beginning on or after the first of January next succeeding the
11 date on which it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02628-01-5
