New York Codes, Rules and Regulations
Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT
Chapter XXVI - Life Sciences Research and Development
Part 280 - Restaurant Return-to-Work Tax Credit Program
Section 280.5 - Calculation of the restaurant return-to-work tax credit
Universal Citation: 5 NY Comp Codes Rules and Regs ยง 280.5
Current through Register Vol. 46, No. 12, March 20, 2024
(a) An applicant for the restaurant return-to-work tax credit that meets the eligibility requirements of section 280.4 of this Part may be eligible to claim a credit equal to $5,000 per each full-time equivalent net employee increase as defined in section 280.2(n) of this Part.
(b) An applicant may not receive in excess of $50,000 in tax credits under this program.
(c) The restaurant return-to-work tax credit shall be refundable as provided in the Tax Law.
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