Expands eligibility and increases the amounts of the empire state child credit.

New York A10126 amends the tax law to expand eligibility and increase the amounts of the empire state child credit. The bill adjusts the credit amounts based on the number of qualifying children and their ages, with higher amounts for younger children. It also introduces prepayment options for qualifying taxpayers starting in 2031. The credit is subject to adjustments based on federal adjusted gross income and inflation.

Expands eligibility and increases the amounts of the empire state child credit.

New York A10126 amends the tax law to expand eligibility and increase the amounts of the empire state child credit. The bill adjusts the credit amounts based on the number of qualifying children and their ages, with higher amounts for younger children. It also introduces prepayment options for qualifying taxpayers starting in 2031. The credit is subject to adjustments based on federal adjusted gross income and inflation.