New York S08911 increases the tax credit for long-term care insurance premiums from 20% to 40% and from $1,500 to $2,500.

New York S08911 amends the tax law to increase the credit against taxes for long-term care insurance premiums. The credit rises from 20% to 40% of the premiums paid during the taxable year. Additionally, the maximum credit amount increases from $1,500 to $2,500. This credit is available only if the taxpayer's New York adjusted gross income is less than $250,000. The changes apply to premiums paid for the purchase or continuing coverage under a long-term care insurance policy.

New York S08911 increases the tax credit for long-term care insurance premiums from 20% to 40% and from $1,500 to $2,500.

New York S08911 amends the tax law to increase the credit against taxes for long-term care insurance premiums. The credit rises from 20% to 40% of the premiums paid during the taxable year. Additionally, the maximum credit amount increases from $1,500 to $2,500. This credit is available only if the taxpayer's New York adjusted gross income is less than $250,000. The changes apply to premiums paid for the purchase or continuing coverage under a long-term care insurance policy.