New York S03648 amends the tax law to establish installment payment options for the earned income credit.

New York S03648 amends the tax law to allow for installment payments of the earned income credit. For credits of $200 or less, the payment is made in a lump sum. For credits between $200 and $2,400, the payment is divided into monthly installments of $200. For credits over $2,400, the payment is divided into 12 equal monthly installments. The commissioner of taxation and finance is authorized to make necessary rule changes to implement these provisions.

New York S03648 amends the tax law to establish installment payment options for the earned income credit.

New York S03648 amends the tax law to allow for installment payments of the earned income credit. For credits of $200 or less, the payment is made in a lump sum. For credits between $200 and $2,400, the payment is divided into monthly installments of $200. For credits over $2,400, the payment is divided into 12 equal monthly installments. The commissioner of taxation and finance is authorized to make necessary rule changes to implement these provisions.