New York S05098 provides a tax credit for fifty percent of the cost to purchase and install certain durable medical equipment in a residence.

New York S05098 amends the tax law to provide a tax credit for fifty percent of the cost to purchase and install durable medical equipment in a residence. The equipment eligible for this credit includes wheelchair ramps, stair lifts, incline platform lifts, vertical platform lifts, and bathtub lifts. If the credit exceeds the taxpayer's tax for the year, the excess will be treated as an overpayment and credited or refunded. The act is set to take effect on January 1 of the year following its enactment.

New York S05098 provides a tax credit for fifty percent of the cost to purchase and install certain durable medical equipment in a residence.

New York S05098 amends the tax law to provide a tax credit for fifty percent of the cost to purchase and install durable medical equipment in a residence. The equipment eligible for this credit includes wheelchair ramps, stair lifts, incline platform lifts, vertical platform lifts, and bathtub lifts. If the credit exceeds the taxpayer's tax for the year, the excess will be treated as an overpayment and credited or refunded. The act is set to take effect on January 1 of the year following its enactment.