Assembly Bill A1573

2023-2024 Legislative Session

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

download bill text pdf

Sponsored By

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

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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) - Summary

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

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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