5 CRR-NY 213.2NY-CRR
5 CRR-NY 213.2
5 CRR-NY 213.2
213.2 Refundability of credits.
(a) The Empire State Jobs Retention Program credit established in this section shall be refundable as provided in the Tax Law. If a participant fails to satisfy the eligibility criteria in any one year, it will lose the ability to claim credit for that year.
(b) The event of such failure shall not extend the original 10-year eligibility period.
(c) The business enterprise shall be allowed to claim the credit as prescribed in section 36 of the Tax Law; provided, however, a business enterprise shall not be allowed to claim the credit prior to tax year 2012.
(d) A participant may be eligible for benefits under this article as well as article 17 of the Economic Development Law, provided the participant can only receive benefits pursuant to subdivision 2 of section 355 of the Economic Development Law for costs in excess of costs recovered by insurance.
5 CRR-NY 213.2
Current through October 15, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.