New York S01674 creates a tax credit for employers who help reduce higher education loans of their employees.

New York S01674 amends the tax law to create a tax credit for employers who help reduce higher education loans of their employees. The credit is equal to the taxpayer's payment on behalf of an employee of any indebtedness of the employee under a higher education loan or any interest relating to such a loan. The credit is capped at ten thousand dollars per employee. The credit applies to taxable years beginning on and after January 1 of the year following the date the act becomes law.

New York S01674 creates a tax credit for employers who help reduce higher education loans of their employees.

New York S01674 amends the tax law to create a tax credit for employers who help reduce higher education loans of their employees. The credit is equal to the taxpayer's payment on behalf of an employee of any indebtedness of the employee under a higher education loan or any interest relating to such a loan. The credit is capped at ten thousand dollars per employee. The credit applies to taxable years beginning on and after January 1 of the year following the date the act becomes law.