New York Gov. Kathy Hochul (D) said Tuesday she will push several tax bills in this year’s legislative session, including one to protect tax-exempt charitable donations from changes at the federal level.
The legislation would ensure that donations made to charities that lose their federal tax-exempt status would still qualify as a charitable deduction for New York income tax purposes, according to her State of the State book released during her Albany address to lawmakers. It was crafted in response to “recent public challenges to the historical tax-exempt status of certain universities and other organizations” that have “led to concerns ...