New York A 4721: Relates to the election to have federal and/or state income tax deducted and withheld from an individual's unemployment insurance benefits

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A04721 Summary:

BILL NOA04721 

&nbsp

SAME ASSAME AS S10048

&nbsp

SPONSORBurdick

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §596, Lab L

&nbsp

Relates to the election to have federal and/or state income tax deducted and withheld from an individual's unemployment insurance benefits.

Go to top A04721 Actions:

BILL NOA04721 

&nbsp

02/05/2025referred to labor

01/07/2026referred to labor

Go to topA04721 Committee&nbspVotes:

Go to topA04721 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04721 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4721

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 5, 2025
 ___________

 Introduced by M. of A. BURDICK -- read once and referred to the Commit-
 tee on Labor

 AN ACT to amend the labor law, in relation to the election to have
 federal and/or state income tax deducted and withheld from an individ-
 ual's unemployment insurance benefits

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Paragraph (a) of subdivision 6 of section 596 of the labor
 2 law, as amended by chapter 369 of the laws of 2008, is amended to read
 3 as follows:
 4 (a)(1) Unemployment benefits are subject to federal, state and local
 5 income tax;
 6 (2) Requirements exist pertaining to estimated tax payments;
 7 (3) The individual may elect to have federal and/or state income tax
 8 deducted and withheld from the individual's payment of unemployment
 9 benefits at the amount specified under the federal internal revenue code
 10 (26 U.S.C.A. 3402(p)(2)) and/or [the] an amount equal to four percent of
 11 such payment for the purpose of the state income tax withholding [tax
 12 schedules as specified under the tax law and relevant regulations];
 13 [and]
 14 (4) The individual shall be permitted to change a previously elected
 15 withholding status[.]; and
 16 (5) Even if the individual elects to have federal and/or state income
 17 tax deducted and withheld from the individual's payment of unemployment
 18 benefits, additional tax may still be due as prescribed for such tax
 19 payment under the tax law.
 20 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08480-01-5

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