Cyndi A Lee

No Tax On Tips 2025 New York. “no tax on tips is effectively an additional wage increase for servers that doesn’t pose the same threat and consequences for jobs and restaurants like eliminating the tip credit. Trump has put forward — “no taxes on tips” — still leaves several important details unaddressed.

The no tax on tips act proposes an amendment to the internal revenue code to exempt cash tips from income tax through a deduction available to all taxpayers. As the holiday season approaches and we turn the calendar to 2025, new york employers should pay attention to several legal and regulatory changes taking effect in 2025.