Sec. 5-11.3. Limitation and carryover of the economic development zone employment incentive tax credit

Tax Law, § 210(12-C)(c)

(a) The economic development zone employment incentive tax credit shall not reduce the tax due to less than the higher of the amounts prescribed in section 210(1)(c) and (d) of the Tax Law.

(b) A taxpayer which has an excess economic development zone employment incentive tax credit after reducing the tax due to the applicable amount described in subdivision (a) of this section may carry over such excess credit to the following year or years and may deduct the excess credit from the taxpayer's tax for such year or years.