New York A04721 allows individuals to choose to have federal and/or state income tax deducted from their unemployment benefits.

New York A04721 amends the labor law to allow individuals receiving unemployment benefits to elect to have federal and/or state income tax deducted and withheld from their payments. This deduction will be at the amount specified under the federal internal revenue code and/or an amount equal to four percent of the payment for state income tax withholding. Individuals can change their elected withholding status. Even with this election, additional tax may still be due as prescribed by the tax law. The act takes effect immediately.

New York A04721 allows individuals to choose to have federal and/or state income tax deducted from their unemployment benefits.

New York A04721 amends the labor law to allow individuals receiving unemployment benefits to elect to have federal and/or state income tax deducted and withheld from their payments. This deduction will be at the amount specified under the federal internal revenue code and/or an amount equal to four percent of the payment for state income tax withholding. Individuals can change their elected withholding status. Even with this election, additional tax may still be due as prescribed by the tax law. The act takes effect immediately.