New York A00631 establishes a tax credit for veterinary services up to $2,000 per year.

New York A00631 amends the tax law to establish a tax credit for the cost of veterinary services, up to $2,000 per year. The credit applies to services performed on companion animals, including checkups, vaccinations, and treatments. It allows for 50% of the actual cost of veterinary services, with a maximum credit of $2,000. The credit can be applied to the taxable year in which the service is rendered and any excess can be carried over to subsequent years. The bill takes effect immediately and applies to taxable years beginning on or after January 1, 2025, expiring on January 1, 2031.

New York A00631 establishes a tax credit for veterinary services up to $2,000 per year.

New York A00631 amends the tax law to establish a tax credit for the cost of veterinary services, up to $2,000 per year. The credit applies to services performed on companion animals, including checkups, vaccinations, and treatments. It allows for 50% of the actual cost of veterinary services, with a maximum credit of $2,000. The credit can be applied to the taxable year in which the service is rendered and any excess can be carried over to subsequent years. The bill takes effect immediately and applies to taxable years beginning on or after January 1, 2025, expiring on January 1, 2031.