New York Codes, Rules and Regulations
Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT
Chapter II - ECONOMIC DEVELOPMENT ZONES
Part 15 - Zone Capital Corporations
Section 15.6 - Reporting requirements

Universal Citation: 5 NY Comp Codes Rules and Regs ยง 15.6

Current through Register Vol. 46, No. 12, March 20, 2024

A zone capital corporation shall submit to the local empire zone administrative board an annual report on its activities, which shall include but not be limited to:

(a) annual year end financial statements, audited by a certified public accountant, itemizing any and all loans and/or investments and indicating the purpose of such loans and/or investments;

(b) certification by a certified public accountant that the zone capital corporation did not acquire an equity position of over 25 percent in any certified zone business; and

(c) a signed statement from each investor in and/or contributor to the zone capital corporation claiming a zone capital tax credit, indicating the amount of such credit and the tax year proposed to claim such a credit.

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