Accelerated Sales Tax Exemption Program (ASTEP)

The Accelerated Sales Tax Exemption Program (ASTEP) helps businesses buy equipment or make renovations. This help is in the form of tax exemptions. The New York City Industrial Development Agency (NYCIDA) manages ASTEP.

Businesses must meet the following requirements:

• Less than $10 million in annual revenue;
• Be located in a "highly distressed area"; and
• Not have received other benefits from the NYCIDA for the past five years at the same project location.

• New equipment or renovations for industrial businesses;
• New equipment or renovations for non-retail commercial businesses; or
• Food retail businesses that are buying equipment and/or renovating to make space for fresh or healthy food.