New York S04383 provides a tax credit for qualified caregiving expenses.

New York S04383 amends the tax law to introduce a tax credit for qualified caregiving expenses. This credit applies to expenses incurred by qualified caregivers for goods and services provided to or for the benefit of a qualified family member residing in New York. Eligible caregivers must apply for the credit through the department, which will issue a certification for approved applications. The credit is limited to 50% of the total amount expended or $3,500, whichever is less. The credit is allocated on a first-come, first-served basis, with an annual limit of $35 million.

New York S04383 provides a tax credit for qualified caregiving expenses.

New York S04383 amends the tax law to introduce a tax credit for qualified caregiving expenses. This credit applies to expenses incurred by qualified caregivers for goods and services provided to or for the benefit of a qualified family member residing in New York. Eligible caregivers must apply for the credit through the department, which will issue a certification for approved applications. The credit is limited to 50% of the total amount expended or $3,500, whichever is less. The credit is allocated on a first-come, first-served basis, with an annual limit of $35 million.