New York - A07935 - 2023

Enacts the "empire innovation act"; provides that a participant in the excelsior jobs program shall be eligible to claim a credit equal to the portion of the full cost of the participant's research and development expenses incurred that relates to the participant's research and development expenditures in New York state during the taxable year; provided however, if the participant receives a federal research and development tax credit calculated on the full cost of the participant's research and development expenses that relates to the participant's research and development expenditures in New York state during the taxable year, then said participant shall only be eligible to claim a credit equal to fifty percent of the portion of the participant's federal research and development tax credit that relates to the participant's research and development expenditures in New York state during the taxable year.

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Economic Development

Added On: 12-15-2023
Updated On: 01-03-2024
Status: Introduced
Primary Sponsor: Jacob Blumencranz (Republican)





Companion Bills (1)

Actions (2)

  • 08-04-2023 - referred to economic development
  • 01-03-2024 - referred to economic development