5 CRR-NY 250.5NY-CRR

OFFICIAL COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 5. DEPARTMENT OF ECONOMIC DEVELOPMENT
CHAPTER XXV. EMPIRE TRAINING INCENTIVE PROGRAM
PART 250. EMPIRE TRAINING INCENTIVE PROGRAM
5 CRR-NY 250.5
5 CRR-NY 250.5
250.5 Allocation of the Employee Training Incentive Program credit.
(a) The total amount of tax credits listed on certificates of tax credit issued by the commissioner for any taxable year shall not exceed $5,000,000, and, of that $5,000,000, the amount of tax credits allocated for business entities providing eligible internship programs shall be at least $250,000 and no more than $1,000,000.
(b) In the event that the capital investment costs incurred by a participating business entity, as determined by the department pursuant to section 250.6(b) of this Part, do not equal at least 10 times the amount of the credit to which the business entity is entitled based upon its eligible training costs, then the department shall issue a pro-rated certificate of tax credit in an amount equal to no more than 1/10 of the capital investment costs incurred by the participating business entity.
5 CRR-NY 250.5
Current through February 29, 2020
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