Establishes a $6,000 tax deduction for veterans in New York.
New York S04118 amends the tax law to introduce a deduction for veterans. Specifically, it adds a new paragraph to section 612, allowing a deduction of up to $6,000 for taxpayers who are veterans. The term "veteran" is defined according to the veterans' services law. This amendment takes effect immediately and applies to all taxable years starting from January 1, 2025.
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