New York A02033 establishes a tax deduction for beneficiaries of deferred compensation plans using distributions to pay for health insurance premiums.

New York A02033 amends the state tax law to allow a tax deduction for beneficiaries of deferred compensation plans who use their distributions to pay for qualified health insurance premiums. The deduction is limited to an amount of six thousand dollars. This change applies to all taxable years beginning on or after January 1, 2025.

New York A02033 establishes a tax deduction for beneficiaries of deferred compensation plans using distributions to pay for health insurance premiums.

New York A02033 amends the state tax law to allow a tax deduction for beneficiaries of deferred compensation plans who use their distributions to pay for qualified health insurance premiums. The deduction is limited to an amount of six thousand dollars. This change applies to all taxable years beginning on or after January 1, 2025.