New York S01262 establishes a $500 income tax credit for nurses employed full-time for at least six months and those teaching at higher education.

New York S01262 amends the tax law to introduce a $500 credit against income tax for nurses who are employed full-time for at least six months and for nurses who teach at institutions of higher education. The credit applies to taxable years beginning on or after January 1, 2026. Full-time employment is defined as working at least 30 hours per week. If the credit exceeds the taxpayer's tax liability for the year, the excess will be treated as an overpayment and credited or refunded, but no interest will be paid on such overpayment.

New York S01262 establishes a $500 income tax credit for nurses employed full-time for at least six months and those teaching at higher education.

New York S01262 amends the tax law to introduce a $500 credit against income tax for nurses who are employed full-time for at least six months and for nurses who teach at institutions of higher education. The credit applies to taxable years beginning on or after January 1, 2026. Full-time employment is defined as working at least 30 hours per week. If the credit exceeds the taxpayer's tax liability for the year, the excess will be treated as an overpayment and credited or refunded, but no interest will be paid on such overpayment.