Loading chat...
NY A04721
Bill
Status
2/5/2025
Primary Sponsor
Christopher Burdick
Click for details
AI Summary
-
Sets state income tax withholding from unemployment benefits at a flat rate of 4% of each payment, replacing the previous variable withholding based on tax schedules
-
Requires notification to unemployment benefit recipients that additional tax may still be owed even if they elect to have federal and/or state taxes withheld from their benefits
-
Maintains the option for individuals to elect federal income tax withholding at the rate specified under federal Internal Revenue Code (26 U.S.C.A. 3402(p)(2))
-
Preserves the right of individuals to change their previously elected withholding status at any time
-
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
1/7/2026