Bill > S05259

This bill amends New York state tax law to provide a complete income tax exemption for veterans who are 85 years of age or older, beginning with taxable years starting on or after January 1, 2027. The exemption applies to any veteran who meets two key criteria: first, being at least 85 years old by December 31 of the taxable year, and second, qualifying as a veteran under subdivision three of section thirty-two of the veterans' services law. Importantly, this exemption will apply to the veteran's entire gross income, regardless of whether that income would be subject to federal income taxation. The bill represents a significant tax relief measure for elderly veterans, recognizing their service by eliminating their state income tax burden in their advanced years. By setting the effective date in 2027, the legislation provides advance notice to tax authorities and gives time for implementation of the new tax exemption.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S5259