Bill Text: NY A10093 | 2021-2022 | General Assembly | Introduced

New York Assembly Bill 10093 (Prior Session Legislation)

Introduced

Bill Title: Establishes the middle class tax relief act; excludes overtime wages and income from tips from being included in the New York adjusted gross income of a resident individual.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-04-29 - referred to ways and means [A10093 Detail]

Download: New_York-2021-A10093-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          10093

                   IN ASSEMBLY

                                     April 29, 2022
                                       ___________

        Introduced  by M. of A. SCHMITT -- read once and referred to the Commit-
          tee on Ways and Means

        AN ACT to amend the tax law, in relation to excluding overtime wages and
          income from tips from being included in the New  York  adjusted  gross
          income of a resident individual

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. This act shall be known and may be  cited  as  the  "middle
     2  class tax relief act".
     3    §  2.  Section  612  of  the  tax  law  is  amended  by adding two new
     4  subsections (y) and (z) to read as follows:
     5    (y) Overtime compensation. (1) There shall be subtracted from  federal
     6  adjusted gross income any applicable income from wages paid for overtime
     7  received by the taxpayer during the taxable year.
     8    (2)  For  the purposes of this section, "overtime" shall have the same
     9  meaning as in section two hundred thirty-two of the labor law.
    10    (z) Tipped wages. (1) There shall be subtracted from federal  adjusted
    11  gross  income  any  applicable income from tips received by the taxpayer
    12  during the taxable year.
    13    (2) Applicable income from tips is income received as a  gratuity  for
    14  service  provided  by  the taxpayer, including, but not limited to, food
    15  service work.
    16    § 3. This act shall take effect immediately.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15074-01-2