New York bill S00468 proposes a tax credit for up to $1,000 in qualified healthy living expenses.

New York bill S00468 amends the tax law to introduce a tax credit for qualified expenses related to healthy living. The credit amount equals the taxpayer's expenses, up to $1,000 per taxable year. Qualified expenses include purchases of exercise equipment, gym memberships, and classes involving physical activities like sports, dance, or martial arts. Parents or legal guardians can claim the credit for their children's expenses. The credit cannot exceed the taxpayer's tax liability for the year, but any unused credit can be carried over to subsequent years.

New York bill S00468 proposes a tax credit for up to $1,000 in qualified healthy living expenses.

New York bill S00468 amends the tax law to introduce a tax credit for qualified expenses related to healthy living. The credit amount equals the taxpayer's expenses, up to $1,000 per taxable year. Qualified expenses include purchases of exercise equipment, gym memberships, and classes involving physical activities like sports, dance, or martial arts. Parents or legal guardians can claim the credit for their children's expenses. The credit cannot exceed the taxpayer's tax liability for the year, but any unused credit can be carried over to subsequent years.