New York S05262 creates a tax credit for up to three cycles of in vitro fertilization treatment for infertility.

New York S05262 amends the tax law to create an in vitro fertilization treatment tax credit. This credit allows a resident taxpayer to claim a credit against their tax for up to three cycles of in vitro fertilization treatment. The credit equals 75% of the expenses related to the treatment for infertility, up to a maximum of $10,000 per taxable year. If the credit exceeds the taxpayer's tax for the year, the excess is treated as an overpayment and will be credited or refunded. The credit takes effect immediately and applies to taxable years beginning on and after January 1, 2026.

New York S05262 creates a tax credit for up to three cycles of in vitro fertilization treatment for infertility.

New York S05262 amends the tax law to create an in vitro fertilization treatment tax credit. This credit allows a resident taxpayer to claim a credit against their tax for up to three cycles of in vitro fertilization treatment. The credit equals 75% of the expenses related to the treatment for infertility, up to a maximum of $10,000 per taxable year. If the credit exceeds the taxpayer's tax for the year, the excess is treated as an overpayment and will be credited or refunded. The credit takes effect immediately and applies to taxable years beginning on and after January 1, 2026.