New York S03033 provides a tax deduction for small business employers of 25% of wages for up to ten employees earning up to 110% of the minimum wage.

New York S03033 amends the tax law to offer a tax deduction for small business employers. Specifically, it allows a deduction of 25% of the wages, salary, or compensation paid to up to ten employees who earn up to 110% of the minimum wage. This deduction applies to taxable years beginning on and after January 1, 2026.

New York S03033 provides a tax deduction for small business employers of 25% of wages for up to ten employees earning up to 110% of the minimum wage.

New York S03033 amends the tax law to offer a tax deduction for small business employers. Specifically, it allows a deduction of 25% of the wages, salary, or compensation paid to up to ten employees who earn up to 110% of the minimum wage. This deduction applies to taxable years beginning on and after January 1, 2026.