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New York Codes Rules Regulations (Last Updated: March 27,2024) |
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TITLE 20. Department of Taxation and Finance |
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Chapter I. Franchise and Certain Business Taxes |
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Subchapter A. Business Corporation Franchise Tax |
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Part 5. Credits Against Tax |
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Subpart 5-10. Economic Development Zone Investment Tax Credit |
Sec. 5-10.6. Elective treatment of certain property which qualifies for the economic development zone investment credit
Latest version.
- Tax Law, § 210(12-B)(e)(a) A taxpayer may elect to take the economic development zone investment tax credit on qualified property (see section 5-10.2 of this Subpart) in lieu of the following credits:(1) eligible business facility credit (see Subpart 5-1 of this Part); or(2) investment tax credit (see Subpart 5-2 of this Part).(b) Where a taxpayer claimed an eligible business facility credit or an investment tax credit on property qualified for such credits, the taxpayer may not claim the economic development zone investment tax credit on such property.