Bill > S01838

This bill establishes a tax credit of up to $2,000 per year for the cost of veterinary services performed on companion animals. The credit covers 50% of the actual cost of veterinary services, including checkups, vaccinations, microchip insertions, and the diagnosis and treatment of animal diseases, pain, injuries, or dental/physical conditions. To claim the credit, taxpayers must provide a receipt from a licensed veterinarian in New York. The credit can be carried over to the following year(s) if it exceeds the taxpayer's tax liability for the year. The bill takes effect immediately and applies to taxable years beginning on or after January 1, 2019, but is set to expire and be repealed on January 1, 2025.