Bill > A05340

This bill creates a new tax credit for household pet owners, allowing individuals to claim up to $900 per taxable year for expenses related to up to two pets starting in 2026. The credit is divided into two categories: up to $150 for everyday pet expenses (such as food, toys, and grooming supplies) and up to $300 for medical and veterinary expenses per pet. To qualify, pets must be dogs or cats kept primarily for companionship and maintained in or near the owner's household. The bill specifically excludes certain animals from the definition of "household pet," such as research animals, breeding animals, and working dogs like police or detection dogs. Taxpayers will need to provide documentation to the tax commissioner proving pet ownership and the actual costs incurred. The tax credit aims to provide financial relief for pet owners by offsetting some of the standard expenses associated with caring for household pets, and will become effective for taxable years beginning on or after January 1, 2026.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A5340