Exempts qualified military benefits from inclusion in a resident's adjusted gross income.

New York S05104 amends the tax law to exempt qualified military benefits from inclusion in a resident's adjusted gross income. This includes any allowance or in-kind benefit other than personal use of a vehicle, received by any former member of the uniformed services of the United States or any dependent of such member. The exemption applies to benefits received by reason of such member's status or service as a member of such uniformed services. The change takes effect immediately and applies to taxable years beginning on and after January 1, 2026.

Exempts qualified military benefits from inclusion in a resident's adjusted gross income.

New York S05104 amends the tax law to exempt qualified military benefits from inclusion in a resident's adjusted gross income. This includes any allowance or in-kind benefit other than personal use of a vehicle, received by any former member of the uniformed services of the United States or any dependent of such member. The exemption applies to benefits received by reason of such member's status or service as a member of such uniformed services. The change takes effect immediately and applies to taxable years beginning on and after January 1, 2026.