New York A02480 proposes a tax credit for taxpayers who install water filtration or purification systems in their residence or business.

New York A02480 amends the tax law to create a tax credit for taxpayers who purchase and install a water filtration or purification system in their residence or business. The credit amounts to $500 per system installed. A taxpayer can claim one credit for each residence or business where a new system is installed. The credit applies to systems that remove impurities from water through physical, chemical, or biological processes, installed by a professional. The amendment takes effect immediately and applies to taxable years beginning on or after January 1, 2025.

New York A02480 proposes a tax credit for taxpayers who install water filtration or purification systems in their residence or business.

New York A02480 amends the tax law to create a tax credit for taxpayers who purchase and install a water filtration or purification system in their residence or business. The credit amounts to $500 per system installed. A taxpayer can claim one credit for each residence or business where a new system is installed. The credit applies to systems that remove impurities from water through physical, chemical, or biological processes, installed by a professional. The amendment takes effect immediately and applies to taxable years beginning on or after January 1, 2025.