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NY A01573
Bill
Status
1/17/2023
Primary Sponsor
Monica Wallace
Click for details
AI Summary
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Amends Labor Law Section 596 to clarify that individuals may elect to have federal and/or state income tax withheld from unemployment insurance benefits.
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Specifies state income tax withholding at four percent of the unemployment benefit payment, replacing previous reference to tax schedules and regulations.
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Permits individuals to change their previously elected withholding status at any time.
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Adds notification that electing tax withholding does not eliminate potential additional tax liability under state tax law.
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Takes effect immediately upon enactment.
Legislative Description
Relates to the election to have federal and/or state income tax deducted and withheld from an individual's unemployment insurance benefits.
Last Action
referred to labor
1/3/2024