Bill > S00832

This bill establishes a tax credit for New York state taxpayers to help offset the cost of veterinary services for companion animals. Specifically, taxpayers can claim a credit equal to 50% of veterinary expenses, up to a maximum of $2,000 per year, for services rendered by a licensed veterinarian starting in 2025. Eligible veterinary services include medical treatments such as checkups, vaccinations, microchip insertions, diagnostic services, treatments, surgeries, and prescriptions. To claim the credit, taxpayers must provide an actual receipt from a licensed veterinarian in New York, and any expenses already reimbursed by another party are not eligible. If the credit amount exceeds the taxpayer's tax liability in a given year, the excess can be carried forward to future tax years. The tax credit will be available for taxable years from 2025 to 2031, after which it will automatically expire unless renewed by the legislature.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S832