New York A04363 establishes a $1,500 tax credit for Gold Star children.

New York A04363 amends the tax law to establish a tax credit for Gold Star children. This credit allows eligible children, who are 18 years old or younger and whose parent died in the line of duty, to claim a credit of $1,500 against their tax liability. If the credit exceeds the taxpayer's tax for the year, the excess can be carried over to subsequent years. The amendment takes effect immediately and applies to taxable years beginning on or after January 1, 2027.

New York A04363 establishes a $1,500 tax credit for Gold Star children.

New York A04363 amends the tax law to establish a tax credit for Gold Star children. This credit allows eligible children, who are 18 years old or younger and whose parent died in the line of duty, to claim a credit of $1,500 against their tax liability. If the credit exceeds the taxpayer's tax for the year, the excess can be carried over to subsequent years. The amendment takes effect immediately and applies to taxable years beginning on or after January 1, 2027.