reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXII - Start-Up NY Program › Part 220 - Suny Tax-free Areas To Revitalize And Transform Upstate New York (start-up Ny) Program › Section 220.20 - Conflict of interest guidelines

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Each university or college participating in the START-UP NY Program shall adopt
				a conflict of interest policy. Such conflict of interest policy shall provide,
				as it relates to the program:
(1) as a
				general principle, that service as an official of the university or college
				shall not be used as a means for private benefit or inurement for the official,
				a relative thereof, or any entity in which the official, or relative thereof,
				has a business interest;
(2) no
				official who is a vendor or employee of a vendor of goods or services to the
				university or college, or who has a business interest in such vendor, or whose
				relative has a business interest in such vendor, shall vote on, or participate
				in the administration by the university or college, as the case may be, of any
				transaction with such vendor; and
(3) upon becoming aware of an actual or
				potential conflict of interest, an official shall advise the president or chief
				executive officer of the university or college, as the case may be, of his or
				her or a relative's business interest in any such existing or proposed vendor
				with the university or college.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.1 - Purpose and general description

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				purpose of this Part is to set forth the application process for the Empire
				State Post Production Tax Credit Program established by chapter 57 of the Laws
				of 2010 and Amended by chapter 59 of the Laws of 2013. These regulations
				establish procedures for the allocation of such credits, including, but not
				limited to, the application process, standards for evaluation of applications,
				and other provisions deemed necessary and appropriate. The Department of
				Economic Development shall administer the program, including the issuance of
				tax credit certificates.
(b) A
				taxpayer which is a qualified film production company, and which is subject to
				tax under article 9-A or 22 of the Tax Law, unless eligible for the film
				production credit under section
				24 of the Tax Law with respect to the
				qualified film, shall be allowed a credit against such tax, pursuant to the
				provisions referenced in subdivision (c) of section
				31 of the Tax Law.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.3 - Eligibility

Current through Register Vol. 46, No. 28, July 10, 2024
For the purposes of this Part, only an authorized applicant
				  shall be eligible to apply for the Empire State Post Production Tax
				  Credit.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.4 - Application process

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Initial application.
(1) An
				authorized applicant shall submit an initial application to the department
				prior to the completion of principal photography. In the case of a TV series an
				authorized applicant shall submit such application prior to completion of
				principal photography of the first episode of the series. The department, in
				its sole discretion, may waive the above rule upon an authorized applicant's
				showing of exigent circumstances so long as that authorized applicant has not
				yet incurred qualified post production costs in New York State.
(2) After submission of the initial
				application, the department may, in its sole discretion, require the authorized
				applicant to have an interview with the department to discuss the details of
				the initial application. A post production supervisor and post production
				accountant or their designee, approved by the department, shall attend such
				interview if requested by the department.
(3) The department shall approve or
				disapprove the initial application based upon criteria set forth in section
				230.6(a) of this
				Part.
(4) After review of the
				initial application, the department shall notify the authorized applicant of
				its eligibility and may issue a certificate of conditional eligibility to the
				authorized applicant.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.5 - Allocation of Empire State post production tax credit.

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The Department shall allocate the amount
				of the credits given for each calendar year in order of priority based upon the
				date of the approval of an applicant's final application. In the event that an
				approved applicant's Empire State Post Production Tax Credit would exceed the
				maximum amount of credits allowed for that given year, the approved applicant's
				credit will be allocated on a priority basis in the immediately succeeding
				calendar year. A maximum of $45 million of credits of the annual allocation
				from the empire state film production tax credit is available for each year
				starting in calendar years 2024 through 2034.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.6 - Criteria for evaluation of applications

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Initial application.
An initial application shall be reviewed by the department to
				  determine, in its discretion, that all of the following criteria are
				  met:
(1) the application is
				complete;
(2) the application is
				not premature;
(3) the application
				has been submitted prior to the end of principal photography;
(4) the authorized applicant is a qualified
				film production company;
(5) the
				authorized applicant is planning to complete a qualified film;
(6) the authorized applicant's projected
				qualified post production costs, excluding costs for visual effects and
				animation, paid or incurred which are attributable to the use of tangible
				property or the performance of services at a qualified post production facility
				in the production of a qualified film is projected to equal or exceed 75
				percent of the projected total post production costs, excluding costs for
				visual effects and animation, paid or incurred in the post production of a
				qualified film at any post production facility; or the authorized applicant's
				projected qualified post production costs for visual effects or animation at a
				qualified post production facility meet or exceed $3 million or twenty (20)
				percent of the total post production costs for visual effects or animation paid
				or incurred in the post production of a qualified film at any post production
				facility, whichever is less;
(7)
				the authorized applicant did not knowingly submit false or misleading
				information to the department;
(8)
				the authorized applicant certifies that it will purchase taxable tangible
				property and services, defined as qualified post production costs, only from
				companies registered to collect and remit New York State and local sales and
				use taxes;
(9) the authorized
				applicant intends to comply with the end credit requirements set forth in
				section 230.2(h) of this
				Part.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.7 - Third party inspection

Current through Register Vol. 46, No. 28, July 10, 2024
The department may accept from an applicant a third party
				  inspection as part of an applicant's final application. Submission of a third
				  party inspection shall be voluntary and shall be subject to review and approval
				  by the department pursuant to section
				  230.6(b) of this
				  Part. The voluntary submission of a third party inspection by an approved
				  applicant as part of its final application shall in no way or manner affect the
				  review and approval by the department of a final application submitted by an
				  approved applicant that elects not to submit a third party inspection. Such
				  final application shall be subject to review and approval by the department
				  pursuant to section
				  230.6(b) of this
				  Part.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.8 - Record retention

Current through Register Vol. 46, No. 28, July 10, 2024
All authorized and approved applicants must maintain records,
				  in paper or electronic form, of any qualified post production costs used to
				  calculate their potential or actual benefit(s) under this program for a minimum
				  of three years from the date the applicant claims the tax credit. The
				  department shall have access to the records during normal business hours at an
				  office of the applicant within the State or, if no such office is available, at
				  a mutually agreeable and reasonable venue within the State, for the term
				  specified above for the purposes of inspection, auditing and
				  copying.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.9 - Appeal process

Current through Register Vol. 46, No. 28, July 10, 2024
(a) If an
				applicant's final application is disapproved by the department, or if an
				applicant disagrees with the amount of the tax credit granted by the
				department, the applicant shall have a right to appeal. In the case of an
				appeal from a disapproval of a final application, such appeal shall be made by
				sending a letter to the New York State Department of Economic Development,
				Attn: Counsel's Office, 625 Broadway, 8th Floor, Albany NY 12245, within 30
				days from the date of the denial letter issued by the department. In the case
				of an appeal from a disagreement of the amount of the tax credit issued, such
				appeal shall be made by sending a letter to the same address as listed above
				within 30 days from the date of issuance of the certificate of tax credit.
				Failure to request an appeal within 30 days shall be deemed a waiver of an
				applicant's right to appeal.
(b)
				Upon receipt of a timely letter of appeal, an independent hearing officer will
				be appointed by the commissioner to handle the appeal. The independent hearing
				officer shall render a recommended order on the appeal to the commissioner. The
				commissioner or his designee shall issue a final order within 60 days of the
				report. A copy of the final order will be issued to the appellant within 10
				days after the date the commissioner or his designee renders the final
				order.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.10 - Exchange of information with Department of Taxation and Finance

Current through Register Vol. 46, No. 28, July 10, 2024
Notwithstanding any provision of this Chapter, employees and
				  officers of the department and the Department of Taxation and Finance shall be
				  allowed and are directed to share and exchange information regarding the
				  credits applied for, allowed, or claimed pursuant to this section and taxpayers
				  who are applying for credits or who are claiming credits, including information
				  contained in or derived from credit claim forms submitted to the department and
				  application for credit submitted to the department.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.12 - Biennial report

Current through Register Vol. 46, No. 28, July 10, 2024
The department shall file a report on a biennial basis with
				  the director of the Division of the Budget and the chairmen of the Assembly
				  Ways and Means Committee and Senate Finance Committee. The report shall be
				  filed within 15 days after the close of the calendar year. The first report
				  shall cover a two-year period that begins on January 1, 2013. The report must
				  be prepared by an independent third party auditor and include:
(a) information regarding the Empire State
				Film Production Credit and Post Production Credit Programs including the
				efficiency of operations, reliability of financial reporting, compliance with
				laws and regulations and distribution of assets and funds;
(b) an economic impact study prepared by an
				independent third party of the film credit programs; and
(c) any other information and/or other
				statistical information that the commissioner deems to be useful in analyzing
				the effects of the program.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIV - MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Part 240 - EMPIRE STATE MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Section 240.1 - Purpose and general description

Current through Register Vol. 46, No. 28, July 10, 2024
The purpose of these regulations is to set forth the
				  application process by which a qualified musical and theatrical production
				  company may apply for benefits under the Empire State Musical and Theatrical
				  Production Tax Credit Program established by chapter 59 of the Laws of 2014.
				  These regulations establish procedures for the allocation of such credits,
				  including, but not limited to, the application process, standards for
				  evaluating applications, and such other provisions deemed necessary and
				  appropriate. The New York State department of Economic Development shall
				  administer the program, including the issuance of tax credit
				  certificates.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIV - MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Part 240 - EMPIRE STATE MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Section 240.3 - Eligibility

Current through Register Vol. 46, No. 28, July 10, 2024
For the purposes of this Part, only an authorized applicant
				  shall be eligible to apply for the Empire State Musical and Theatrical
				  Production Tax Credit.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIV - MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Part 240 - EMPIRE STATE MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Section 240.4 - Application Process

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Initial application-notice of intent.
(1) An authorized applicant shall submit an
				initial application to the department prior to commencement of the technical
				period of a qualified musical and theatrical production for which it seeks a
				tax credit under this article. The purpose of the initial application is to
				notify the department of its intent to produce a qualified musical and
				theatrical production in a qualified production facility and submit a final
				application for the Empire State Musical and Theatrical Production Tax
				Credit.
(2) The department shall
				evaluate the initial application based upon the completeness of the application
				and whether it was submitted in accordance with paragraph (1) of this
				subdivision.
(3) After review of
				the initial application, the department shall notify the authorized applicant
				of its eligibility and may issue a certificate of conditional eligibility to
				the authorized applicant.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIV - MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Part 240 - EMPIRE STATE MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Section 240.5 - Allocation of Empire State Musical and Theatrical Production Tax Credit

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Amount of
				credit.
The amount of the credit shall be the product (or pro rata
				  share of the product, in the case of a member of a partnership) of 25 percent
				  and the sum of the qualified production expenditures and the transportation
				  expenditures.
(b)
Aggregate amount of tax credits.
The aggregate amount of tax credits allowed under this
				  Program in any calendar year shall be $4,000,000. Such aggregate amount of
				  credits shall be allocated by the department among taxpayers in order of
				  priority based upon the date of filing a final application for allocation of a
				  Musical and Theatrical Production Tax Credit with the department. If the total
				  amount of allocated credits applied for in any particular year exceeds the
				  aggregate amount of tax credits allowed for such year, such excess shall be
				  treated as having been applied for on the first day of the subsequent
				  year.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIV - MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Part 240 - EMPIRE STATE MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Section 240.6 - Criteria for evaluation of final applications

Current through Register Vol. 46, No. 28, July 10, 2024
A final application shall not be approved by the department
				  unless the department determines, in its discretion, that the following
				  criteria are met:
(a) the application
				is complete;
(b) the applicant
				completed a qualified touring production;
(c) the applicant did not knowingly submit
				false or misleading information to the department.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIV - MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Part 240 - EMPIRE STATE MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Section 240.7 - Record retention

Current through Register Vol. 46, No. 28, July 10, 2024
All applicants must maintain records, in paper or electronic
				  form, of any qualified musical and theatrical production costs used to
				  calculate their potential or actual benefit(s) under the program for a minimum
				  of three years from the date the applicant claims an Empire State Musical and
				  Theatrical Production Tax Credit. The department shall have access to the
				  records during normal business hours at an office of the applicant within the
				  State or, if no such office is available, at a mutually agreeable and
				  reasonable venue within the State, for the term specified above for the
				  purposes of inspection, auditing and copying.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIV - MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Part 240 - EMPIRE STATE MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Section 240.8 - Appeal process

Current through Register Vol. 46, No. 28, July 10, 2024
(a) If an
				applicant's final application is disapproved by the department, or if an
				approved applicant disagrees with the amount of an Empire State Musical and
				Theatrical Production Tax Credit granted by the department, the applicant shall
				have a right to appeal. In the case of an appeal from a disapproval of a final
				application, such appeal shall be made by sending a letter to the New York
				State Department of Economic Development, Attn: Counsel's Office, 625 Broadway,
				8th Floor, Albany NY 12245, within 30 days from the date of the denial letter
				issued by the department. In the case of an appeal from a disagreement of the
				amount of the tax credit issued, such appeal shall be made by sending a letter
				to the same address as listed above within 30 days from the date of issuance of
				the certificate of tax credit. Failure to request an appeal within 30 days
				shall be deemed a waiver of an applicant's right to appeal.
(b) Upon receipt of a timely letter of
				appeal, an independent hearing officer will be appointed by the commissioner to
				handle the appeal.
(c) An appeal
				may be conducted via a hearing, or, with the approval of both parties, via
				written submissions.
(d) The
				independent hearing officer shall render a recommended order on the appeal to
				the commissioner within 60 days of the conclusion of a hearing or receipt of
				the written submission of both parties. The commissioner or his designee shall
				issue a final order within 60 days of receipt of the report of the independent
				hearing officer. A copy of the final order will be issued to the appellant
				within 10 days after the date the commissioner or his designee renders the
				final order.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIV - MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Part 240 - EMPIRE STATE MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Section 240.9 - Exchange of Information with Department of Taxation and Finance

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Employees and
				officers of the department and the Department of Taxation and Finance shall be
				allowed and are directed to share and exchange information regarding the
				credits applied for, allowed, or claimed under the program, as well as
				information regarding taxpayers who are applying for credits or who are
				claiming credits, including information contained in or derived from credit
				claim forms submitted to the Department of Taxation and Finance and
				applications for certification submitted to the department.
(b) The commissioner and the commissioner of
				the Department of Taxation and Finance may release the names and addresses of
				any taxpayer claiming a credit under the program and the amount of the credit
				issued to the taxpayer. Provided, however, if a taxpayer claims this credit
				because it is a member of a limited liability company or a partner in a
				partnership, only the amount of credit earned by the entity and not the amount
				of credit claimed by the taxpayer may be released.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIV - MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Part 240 - EMPIRE STATE MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM › Section 240.11 - Third Party Verification

Current through Register Vol. 46, No. 28, July 10, 2024
The Department may accept from an applicant a third party
				  verification as part of an applicant's final application. Submission of a third
				  party verification shall be voluntary and shall be subject to review and
				  approval by the Department pursuant to section
				  240.6 of this Part. The voluntary
				  submission of a third party verification by an approved applicant as part of
				  its final application shall in no way or manner affect the review and approval
				  by the Department of a final application submitted by an approved applicant
				  that elects not to submit a third party verification. Such final application
				  shall be subject to review and approval by the Department pursuant to section
				  240.6 of this
				  Part.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXV - Empire Training Incentive Program › Part 250 - EMPLOYEE TRAINING INCENTIVE PROGRAM › Section 250.1 - Purpose and general description

Current through Register Vol. 46, No. 28, July 10, 2024
The purpose of these regulations is to set forth the
				  application process for the Employee Training Incentive Program. Pursuant to
				  section
				  444 of
				  the Economic Development Law, the Department of Economic Development has been
				  granted the authority to promulgate regulations, in consultation with the
				  Department of Labor, to establish eligibility criteria for business entities
				  desiring to participate in the program, procedures for the receipt and
				  evaluation of applications from business entities to participate in the
				  program, and such other provisions as the commissioner deems to be appropriate.
				  The Department of Economic Development shall administer the program, including
				  the issuance of tax credit certificates.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXV - Empire Training Incentive Program › Part 250 - EMPLOYEE TRAINING INCENTIVE PROGRAM › Section 250.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Advanced
				technology means the research, development, and manufacturing of goods and
				their applications in the areas of advanced materials and processing
				technologies, integrated electronics, optics, biotechnology, information and
				communication technologies, automation and robotics, electronics packaging,
				imaging technology, remanufacturing, and such other areas as the commissioner
				shall determine.
(b) Approved
				provider of eligible training means an entity that provides training in
				methods, processes, or the use of equipment which meets the following criteria
				to the satisfaction of the commissioner:
(1)
				business activity providing training for at least one year;
(2) a written curriculum describing the
				skills and knowledge to be gained by individuals completing training with the
				approved provider;
(3) employment
				of individuals with the necessary knowledge and credentials to provide eligible
				training; and
(4) accreditation or
				certification, where applicable, in the subject matter of training provided by
				the approved provider.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXV - Empire Training Incentive Program › Part 250 - EMPLOYEE TRAINING INCENTIVE PROGRAM › Section 250.3 - Eligibility criteria

Current through Register Vol. 46, No. 28, July 10, 2024
In order to participate in the program, a business entity
				  must satisfy the following criteria:
(a) A business entity applying to participate
				in the program in connection with providing eligible training to employees
				must:
(1) operate in the State predominantly
				in a strategic industry;
(2)
				demonstrate that it is obtaining eligible training from an approved
				provider;
(3) make a significant
				capital investment in connection with the eligible training; and
(4) be in compliance with all worker
				protection and environmental laws and regulations. In addition, the business
				entity may not owe past due State taxes or local property taxes.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXV - Empire Training Incentive Program › Part 250 - EMPLOYEE TRAINING INCENTIVE PROGRAM › Section 250.4 - Application process

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Initial
				application.
(1) A business entity must
				submit an initial application, in such form and at such time as the
				commissioner shall determine, to the Department prior to procuring eligible
				training from an approved provider or retaining interns to participate in an
				eligible internship program.
(2)
				Upon receipt of a complete initial application the Department may, at its sole
				discretion, approve such application based upon the criteria set forth in
				section 250.6(a) of this
				Part.
(3) After review of an
				initial application, the Department will notify a business entity of its
				eligibility and may issue a certificate of conditional eligibility to the
				business entity.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXV - Empire Training Incentive Program › Part 250 - EMPLOYEE TRAINING INCENTIVE PROGRAM › Section 250.5 - Allocation of the Employee Training Incentive Program credit

Current through Register Vol. 46, No. 28, July 10, 2024
(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 paragraph (b) of section
				250.6 of this Part, do not equal at
				least ten 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
				one-tenth of the capital investment costs incurred by the participating
				business entity.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXV - Empire Training Incentive Program › Part 250 - EMPLOYEE TRAINING INCENTIVE PROGRAM › Section 250.6 - Criteria for evaluation of applications

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Initial application.
An initial application may be approved by the Department, at
				  its sole discretion, provided that such application satisfies the following
				  criteria:
(1) In the case of a
				business entity applying to participate in the program in connection with
				providing eligible training to employees, such application must:
(i) be complete;
(ii) be submitted prior to procuring eligible
				training from an approved provider;
(iii) be made by a business entity operating
				in the State predominantly in a strategic industry;
(iv) identify the approved provider from
				which the business entity proposes to procure eligible training;
(v) demonstrate, by providing a written
				curriculum and such other documentation as the commissioner may require, that
				the training to be provided by an approved provider is eligible
				training;
(vi) estimate the total
				costs attributable to providing the eligible training;
(vii) certify that such business entity is in
				compliance with all worker protection and environmental laws and regulations,
				and that such business entity does not owe past due State taxes or local
				property taxes;
(viii) agree to
				allow the Department of Taxation and Finance to share the tax information of
				the business entity with the Department;
(ix) agree to allow the Department of Labor
				to share its tax and employer information with the Department;
(x) agree to allow the Department and its
				agents access to any and all books and records the Department may require to
				monitor compliance; and
(xi)
				include one of the following:
(a) at least
				three bids solicited from entities proposing to provide the eligible training;
				or
(b) an attestation that the
				business entity could not obtain at least three bids from entities proposing to
				provide the eligible training, and a written explanation for its inability to
				obtain such bids.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXV - Empire Training Incentive Program › Part 250 - EMPLOYEE TRAINING INCENTIVE PROGRAM › Section 250.7 - Record retention

Current through Register Vol. 46, No. 28, July 10, 2024
Each business entity participating in the program shall
				  maintain all relevant records for the duration of its program participation
				  plus three years, and make such records available to the Department and its
				  agents upon seven days' notice.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.1 - Purpose and general description

Current through Register Vol. 46, No. 28, July 10, 2024
The purpose of these regulations is to set forth the
				  administrative process governing the life sciences research and development tax
				  credit program (the program) and specifically to establish an application
				  process, due dates for such applications, eligibility standards for qualified
				  life sciences companies, standards for application evaluation and the
				  documentation that will be provided to taxpayers to substantiate to the
				  Department of Taxation and Finance the amount of credits allocated to such
				  taxpayers. Chapter 59 of the Laws of 2017 establishes the program and grants
				  the Commissioner of the Department of Economic Development the authority to
				  promulgate regulations to establish procedures for the allocation of tax
				  credits under the program.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.3 - Eligibility criteria

Current through Register Vol. 46, No. 28, July 10, 2024
(a) To be
				eligible for this program, an applicant must be:
(1) a qualified life sciences company as
				defined in section
				260.2(e) of this
				Part; and
(2) a new business as
				defined in section
				260.2(d) of this
				Part.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.4 - Application process

Current through Register Vol. 46, No. 28, July 10, 2024
(a) An
				applicant must submit a complete application as prescribed by the
				commissioner.
(b) The commissioner,
				upon receipt of a complete application from an applicant, shall determine
				whether the applicant meets the eligibility criteria set forth in section
				260.3 of this Part based upon the
				application review procedure set forth in section
				260.5 of this Part. An applicant
				that does not meet the eligibility criteria set forth in section
				260.3 of this Part shall not be
				accepted into the program.
(c)
				Having determined that an application is complete and that the applicant meets
				the eligibility criteria set forth in section
				260.3 of this Part, the department
				shall admit the applicant to the program and issue a certificate of tax credit
				as defined in section
				260.2(a) of this
				Part in an amount as determined based upon the review and calculation of the
				credit set forth in sections
				260.5 and
				260.6 of this
				Part.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.5 - Application review

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A life
				sciences research and development company must submit evidence that it meets
				the eligibility requirements stated herein and has made research and
				development expenditures in New York in order to receive benefits under the
				program.
(b) The Department of
				Economic Development may require evidence that includes, but is not necessarily
				limited to, the articles of incorporation of the company, relevant tax returns,
				financial statements, job descriptions and salaries of employees, quarterly
				combined withholding, wage reporting, and unemployment insurance returns filed
				with the NYS Department of Taxation and Finance, and any other information the
				commissioner deems necessary to determine eligibility of the company.
(c) If a life sciences research and
				development company fails to demonstrate that it has satisfied the eligibility
				requirements set forth in section
				260.3 of this Part, the Department
				of Economic Development shall deny its application by issuing a notice of
				denial stating the reasons therefor and not issue such life sciences research
				and development company a certificate of tax credit. Such company may appeal
				this denial pursuant to section
				260.11 of this Part.
(d) After reviewing such evidence and finding
				it sufficient, the department shall calculate the appropriate amount of tax
				credit and issue a certificate of tax credit for one taxable year. The
				certificate shall specify the exact amount of the tax credit that a life
				sciences research and development company may claim and shall specify the
				allocation year and taxable year in which such credit may be claimed. If the
				life sciences research and development company is a business entity that passes
				through the tax credit components to its owners (such as partners in a
				partnership or members in a limited liability company), such owners can only
				claim their share of the credit components on the tax return that corresponds
				to the tax year and allocation year indicated on the certificate issued to the
				life sciences research and development company. In order to receive a
				certificate of tax credit for subsequent taxable years, the life sciences
				research and development company must reapply to the program and meet the
				eligibility criteria set forth in this Part.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.6 - Calculation of the tax credit

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A
				taxpayer that is a qualified life sciences company, or that is a sole
				proprietor of or a partner in a partnership that is a qualified life sciences
				company or a shareholder of a New York S corporation that is a qualified life
				sciences company, and is subject to tax under article 9-A or 22 of the Tax Law
				shall be allowed a credit against such tax, pursuant to the provisions referred
				to in subdivision 52 of section 210-B and subsection (hhh) of section
				606 of the Tax Law, for a period of 3 years,
				as provided in subparagraph (ii) of paragraph 2 of subsection (a) of section
				43 of the Tax Law, to be computed as provided
				in this section, provided that no credit shall be allowed for taxable years
				beginning on or after January 1, 2028. Such credit may be claimed in the
				taxable year that corresponds to the allocation year specified on the
				certificate of tax credit issued to the qualified life sciences
				company.
(b)
(1) For a qualified life sciences company
				that employs 10 or more persons during the taxable year, the amount of the
				credit shall be equal to 15 percent of such qualified life sciences company's
				research and development expenditures in this State for the taxable year. For a
				qualified life sciences company that employs less than 10 persons during the
				taxable year, the amount of the credit shall be equal to 20 percent of such
				qualified life sciences company's research and development expenditures in this
				State for the taxable year.
(2) The
				credit shall be allowed only with respect to the first taxable year during
				which the criteria set forth in subdivision (a) of section
				43 of the Tax Law are satisfied, and with
				respect to each of the two taxable years next following (but only, with respect
				to each of such years, if such criteria are satisfied). Subsequent
				certifications of the life sciences company by the Department of Economic
				Development pursuant to this section shall not extend the three taxable year
				time limitation on the allowance of the credit set forth in the preceding
				sentence.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.7 - Maximum amount of credits

Current through Register Vol. 46, No. 28, July 10, 2024
Maximum amount of credits.The aggregate amount of tax credits
				  allowed under section
				  43 of the Tax Law to taxpayers subject to tax
				  under articles 9-A and 22 of the Tax Law in any taxable year shall be
				  $10,000,000, and shall be allotted from the funds available for tax credits
				  under article 17 of the Economic Development Law.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.8 - Allocation of the credit

Current through Register Vol. 46, No. 28, July 10, 2024
The aggregate amount of credits shall be allocated by the
				  Department of Economic Development among taxpayers in order of priority based
				  upon the date of filing a complete application for allocation of life sciences
				  research and development tax credit with such department. If the total amount
				  of allocated credits applied for in any particular year exceeds the aggregate
				  amount of tax credits allowed for such year under this section, such excess
				  shall be treated as having been applied for on the first day of the subsequent
				  year. In such instances, the credit may not be claimed until the return is
				  filed for the taxpayer"TMs tax year that begins in the same year from which the
				  credit allocation was issued.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.9 - Refundability of credits

Current through Register Vol. 46, No. 28, July 10, 2024
The tax credit established in this Part shall be refundable
				  as provided in article 9-A or 22 of the Tax Law. If a life sciences research
				  and development company fails to satisfy the eligibility criteria it will lose
				  the ability to claim credit for that year.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.10 - Record retention

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each
				life sciences research and development company shall keep all relevant records
				for their duration of program participation plus three years.
(b) The department shall have the right to
				inspect all relevant records upon reasonable notice to the life sciences
				research and development company.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 260 - Life Sciences Research and Development Tax Credit Program › Section 260.12 - Information sharing

Current through Register Vol. 46, No. 28, July 10, 2024
Notwithstanding any provision of the Tax Law:
(a) employees and officers of the Department
				of Economic Development and the Department of Taxation and Finance shall be
				allowed and are directed to share and exchange information regarding the
				credits applied for, allowed, or claimed pursuant to this section and taxpayers
				who are applying for credits or who are claiming credits, including information
				contained in or derived from credit claim forms submitted to the department and
				applications for certification submitted to the Department of Economic
				Development; and
(b) the
				Commissioner of the Department of Taxation and Finance and the Commissioner of
				the Department of Economic Development may release the names and addresses of
				any taxpayer claiming the credit allowed under this section and the amount of
				the credit earned by the taxpayer. Provided, however, if a taxpayer claims such
				credit because it is a member of a limited liability company or a partner in a
				partnership, only the amount of credit earned by the entity and not the amount
				of credit claimed by the taxpayer may be released.
New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXVI - Life Sciences Research and Development › Part 270 - New York City Musical and Theatrical Production Tax Credit Program › Section 270.1 - Purpose and general description

Current through Register Vol. 46, No. 28, July 10, 2024
The purpose of these regulations is to set forth the
				  application process by which a qualified musical and theatrical production
				  company may apply for benefits under the New York City musical and theatrical
				  production tax credit program established by chapter 59 of the Laws of 2021.
				  These regulations include provisions describing the application process, the
				  timing of such applications, the standards that will be used to evaluate the
				  applications, the documentation that will be provided by applicants to
				  substantiate the amount of qualified production expenditures of such
				  applicants, and such other provisions as deemed necessary and appropriate. The
				  New York State Department of Economic Development shall administer the
				  program.