New York Codes, Rules and Regulations
Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT
Chapter XVIII - Empire State Commercial Production Credit Program
Part 180 - Empire State Commercial Production Credit Program
Section 180.3 - Application process
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Applications must be received by the department between the first day of business in January of the year succeeding the year in which the commercial work was performed and April 1st of such year.
(b) An applicant shall submit an application to the department which shall contain qualified commercial work produced in a calendar year.
(c) An applicant may request and shall receive a preliminary interview with the department to discuss the details of the application before the application is submitted. Such interview should occur within 90 days after the completion of the first commercial for which the applicant seeks a tax credit.
(d) The department shall approve or disapprove the application based upon criteria set forth in section 180.4 of this Part.
(e) The department may request additional documentation, including copies of receipts of payment for qualified production costs, to help determine if the production is a qualified commercial and qualifies for the Empire State commercial production credit. If the application is approved, the department shall issue a certificate of tax credit to the applicant. The department shall provide a copy of such certificate of tax credit to the Department of Taxation and Finance. If the application is disapproved, the department shall provide the applicant with a notice of disapproval which shall state the reasons therefor. Such disapproval shall be a rejection of the applicant's application. A disapproved applicant may appeal such disapproval pursuant to the provisions of this Part.
