Bill > S05104

This bill amends the New York State tax law to exempt certain military benefits from state income tax calculations. Specifically, the legislation allows veterans and their dependents to exclude compensation, allowances, and in-kind benefits (with the exception of personal vehicle use) from their adjusted gross income if these benefits are received due to their military service status and are already includable in federal gross income. The exemption applies to former members of the United States uniformed services and their dependents, providing a tax relief measure that recognizes the service of military personnel. The bill will take effect on January 1, 2026, meaning it will apply to taxable years beginning on or after that date, giving taxpayers and tax authorities time to prepare for the new provision. By offering this tax exemption, the bill aims to provide financial support and recognition to military service members and their families.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S5104