Exempts veterans aged 85 and older from New York state income tax.

New York Senate Bill 5259 amends the tax law to exempt veterans aged 85 and older from state income tax. This exemption applies to all taxable years beginning on or after January 1, 2027. The gross income of a resident individual who qualifies as a veteran and is at least 85 years old by December 31 of the taxable year will be exempt from state income tax, regardless of whether the income is subject to federal income taxation.

Exempts veterans aged 85 and older from New York state income tax.

New York Senate Bill 5259 amends the tax law to exempt veterans aged 85 and older from state income tax. This exemption applies to all taxable years beginning on or after January 1, 2027. The gross income of a resident individual who qualifies as a veteran and is at least 85 years old by December 31 of the taxable year will be exempt from state income tax, regardless of whether the income is subject to federal income taxation.