Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to labor |
Jan 17, 2023 |
referred to labor |
Assembly Bill A1573
2023-2024 Legislative Session
Sponsored By
WALLACE
Current Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2023-A1573 (ACTIVE) - Details
- Current Committee:
- Assembly Labor
- Law Section:
- Labor Law
- Laws Affected:
- Amd §596, Lab L
- Versions Introduced in 2021-2022 Legislative Session:
-
A9462
2023-A1573 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1573 2023-2024 Regular Sessions I N A S S E M B L Y January 17, 2023 ___________ Introduced by M. of A. WALLACE -- 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: Section 1. Paragraph (a) of subdivision 6 of section 596 of the labor law, as amended by chapter 369 of the laws of 2008, is amended to read as follows: (a)(1) Unemployment benefits are subject to federal, state and local income tax; (2) Requirements exist pertaining to estimated tax payments; (3) The individual may elect to have federal and/or state income tax deducted and withheld from the individual's payment of unemployment benefits at the amount specified under the federal internal revenue code (26 U.S.C.A. 3402(p)(2)) and/or [the] AN AMOUNT EQUAL TO FOUR PERCENT OF SUCH PAYMENT FOR THE PURPOSE OF the state income tax withholding [tax schedules as specified under the tax law and relevant regulations]; [and] (4) The individual shall be permitted to change a previously elected withholding status[.]; AND (5) EVEN IF THE INDIVIDUAL ELECTS TO HAVE FEDERAL AND/OR STATE INCOME TAX DEDUCTED AND WITHHELD FROM THE INDIVIDUAL'S PAYMENT OF UNEMPLOYMENT BENEFITS, ADDITIONAL TAX MAY STILL BE DUE AS PRESCRIBED FOR SUCH TAX PAYMENT UNDER THE TAX LAW. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01290-01-3
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