Bill > S01131

This bill amends the threshold of resident individuals required to file New York state income tax returns. Specifically, it removes the requirement that individuals file a return if their federal adjusted gross income (a tax term referring to total income minus certain deductions) exceeds $4,000 or their New York standard deduction (a set amount that reduces taxable income), whichever is lower. Instead, the bill requires all resident individuals who are required to file a federal income tax return to also file a New York state income tax return, regardless of their income level. The bill takes effect immediately and applies to taxable years beginning on or after January 1, 2022.