Bill > A00797

This bill amends New York State tax law to prohibit itemized deductions for charitable contributions for individuals with a New York adjusted gross income over ten million dollars. Specifically, the legislation removes the previous provision that allowed such high-income taxpayers to claim 25% of their charitable contribution deductions and instead completely eliminates their ability to claim any charitable contribution deductions on their state tax returns. The bill would apply to taxable years starting on or after the date of enactment, effectively targeting high-income New York residents by restricting their tax benefits for charitable giving. This change means that wealthy individuals in New York will no longer be able to reduce their state tax liability through charitable contribution deductions, which could potentially impact charitable giving behaviors among high-net-worth residents.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A797