§ 1310. Credits against tax. (a) Credit to trust beneficiary receiving\naccumulation distribution. A beneficiary of a trust who is subject to a\ncity personal income tax imposed pursuant to the authority of this\narticle and whose New York adjusted gross income under article\ntwenty-two of this chapter includes all or part of an accumulation\ndistribution by such trust, as defined in section six hundred sixty-five\nof the internal revenue code, shall be allowed a credit against the tax\notherwise due under such city personal income tax for all or a\nproportionate part of any tax paid by the trust under such tax or under\nany prior local law of the city for any preceding taxable year which\nwould not have been payable if the trust had in fact made distributions\nto its beneficiaries at the times and in the amounts specified in\nsection six hundred sixty-six of the internal revenue code. The credit\nunder this subsection shall not reduce the tax otherwise due from the\nbeneficiary under such city personal income tax to an amount less than\nwould have been due if the accumulation distribution or his part thereof\nwere excluded from his New York adjusted gross income as defined in\nsection six hundred twelve of this chapter.\n (b) Credit for tax withheld. Wages upon which tax is required to be\nwithheld shall be taxable under a city personal income tax as if no\nwithholding were required, but any amount of tax actually deducted and\nwithheld under such tax in any calendar year shall be deemed to have\nbeen paid to the state tax commission on behalf of the person from whom\nwithheld, and such person shall be credited with having paid that amount\nof tax for the taxable year beginning in such calendar year. For a\ntaxable year of less than twelve months, the credit shall be made under\nregulations of the state tax commission.\n (c) Credit relating to net capital gain. For taxable years beginning\nin nineteen hundred eighty-seven, a credit against the city personal\nincome tax determined in accordance with section thirteen hundred four\nshall be allowed. The amount of the credit shall be one-half of one\npercent of net capital gain includible in city adjusted gross income for\nthe taxable year. The credit allowed by this section shall not exceed\nthe tax determined in accordance with section thirteen hundred four,\nreduced by the credits permitted under subsections (a) and (d) of this\nsection.\n (d) Household credit. (1) For taxable years beginning after nineteen\nhundred eighty-six, a credit against the city personal income tax\ndetermined in accordance with section thirteen hundred four shall be\nallowed. The credit, computed as described in paragraph two of this\nsubsection, shall not exceed the tax determined in accordance with\nsection thirteen hundred four reduced by the credit permitted under\nsubsection (a) of this section.\n (2) (A) For any individual who is not married nor the head of a\nhousehold nor a surviving spouse, the amount of the credit shall be\ndetermined in accordance with the following table:\nIf household gross The credit shall be:\n income is:\n For taxable years For taxable years\n beginning after 1986 beginning after\n and before 1996 1995\nNot over $7,500 $15 $15\nOver $7,500 but not\n over $10,000 $10 $15\nOver $10,000 but not\n over $12,500 $ 0 $10\n (B) For any husband and wife, head of household or surviving spouse,\nthe amount of the credit shall be determined by multiplying the number\nof exemptions for which the taxpayer (or in the case of a husband and\nwife, taxpayers) is entitled to a deduction for the taxable year for\nfederal income tax purposes under subsections (b) and (c) of section one\nhundred fifty-one of the internal revenue code by the credi
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