N.Y. Comp. Codes R. & Regs. Tit. 5 § 213.2 - Refundability of credits

(a) The Empire State Jobs Retention Program credit established in this section shall be refundable as provided in the Tax Law. If a participant fails to satisfy the eligibility criteria in any one year, it will lose the ability to claim credit for that year.
(b) The event of such failure shall not extend the original 10-year eligibility period.
(c) The business enterprise shall be allowed to claim the credit as prescribed in section 36 of the Tax Law; provided, however, a business enterprise shall not be allowed to claim the credit prior to tax year 2012.
(d) A participant may be eligible for benefits under this article as well as article 17 of the Economic Development Law, provided the participant can only receive benefits pursuant to subdivision 2 of section 355 of the Economic Development Law for costs in excess of costs recovered by insurance.


N.Y. Comp. Codes R. & Regs. Tit. 5 § 213.2

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