NY COVID-19 Capital Costs Tax Credit Program – ALERT FOR NY BUSINESSES
NY COVID-19 Capital Costs Tax Credit Program – ALERT FOR NY BUSINESSES
Established as part of the 2022-2023 NYS Budget, the COVID-19 Capital Costs Tax Credit Program seeks to support small businesses that incurred additional costs and expenses as a result of the COVID-19 pandemic. This Program allows small businesses to receive a tax credit of 50% of qualifying expenses up to a maximum of $50,000, which would result in a maximum credit of $25,000.
For a small business to qualify for this credit, it must: