Businesses must also qualify for the ITC. Click the following link to learn more about the ITC.
Businesses must have an increase in total employment to qualify. The credit allows businesses to claim another 1.5% of the initial investment as a tax credit. The credit can be claimed for two years. Industrial and select commercial and financial service firms are eligible for the credit. Businesses making certain research and development investments can take a modified credit.
The credit is claimed on the business' income tax return. A separate form is filed.
For more information, contact:
W.A. Harriman Campus
Albany, NY 12227
Phone: (518) 485-2889