New York A04177 amends the tax law to allow a deduction for fertility preservation services up to $1,000.

New York A04177 amends the tax law by adding a new paragraph to section 612, allowing a deduction for the cost of fertility preservation services up to $1,000. The deduction applies to the extent that these costs are includable in federal adjusted gross income. For this purpose, "fertility preservation services" are defined as collecting, freezing, preserving, and storing ova. The amendment takes effect immediately and applies to taxable years beginning on or after January 1, 2025.

New York A04177 amends the tax law to allow a deduction for fertility preservation services up to $1,000.

New York A04177 amends the tax law by adding a new paragraph to section 612, allowing a deduction for the cost of fertility preservation services up to $1,000. The deduction applies to the extent that these costs are includable in federal adjusted gross income. For this purpose, "fertility preservation services" are defined as collecting, freezing, preserving, and storing ova. The amendment takes effect immediately and applies to taxable years beginning on or after January 1, 2025.