Bill > A04106

This bill amends the New York state tax law to disregard any amount included in a taxpayer's federal adjusted gross income (AGI) that comes from the federal child tax credit when calculating state income tax deductions. Specifically, the bill applies to taxable years beginning after December 31, 2025, and will exclude from state tax calculations any income derived from the child tax credit under section 24 of the Internal Revenue Code. This means that when New York state calculates an individual's taxable income, the money received through the federal child tax credit will not be counted as income, potentially reducing the taxpayer's state tax liability. The child tax credit is a federal tax benefit that provides financial support to families with children, and this bill aims to provide additional tax relief by ensuring that this credit does not increase a taxpayer's state tax burden. The bill takes effect immediately upon passage.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A4106