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
Universal Citation: 5 NY Comp Codes Rules and Regs ยง 260.3
Current through Register Vol. 46, No. 12, March 20, 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.
(b) An applicant must be in substantial compliance with all worker protection and environmental laws and regulations.
(c) An applicant may not owe past due State or local taxes; provided, however, in the case of a tax certiorari proceeding, a business entity would not be considered in arrears until a final decision is made with respect to such proceeding.
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