Employment Incentive Credit | City of New York

About

State Taxation and Finance, Department of

The Employment Incentive Credit (EIC) is a tax credit for businesses claiming the Investment Tax Credit (ITC). If the ITC investment creates new jobs, businesses may be eligible for the EIC for the two succeeding years.

Businesses must also qualify for the ITC. Click the following link to learn more about the ITC.

Businesses must have an increase in total employment to qualify. The credit allows businesses to claim another 1.5% of the initial investment as a tax credit. The credit can be claimed for two years. Industrial and select commercial and financial service firms are eligible for the credit. Businesses making certain research and development investments can take a modified credit.

The credit is claimed on the business' income tax return. A separate form is filed.

Additional resources

Instructions for Claim for Investment Tax Credit and Employment Incentive Credit (PDF)

Claim for Investment Tax Credit and Employment Incentive Credit (Form CT-46) (PDF)

Department of Taxation and Finance

Empire Zone Homepage

NYS Investment Tax Credit

NYS Online Services for Businesses

Excelsior Jobs Program Overview (PDF)

Corporation Tax Resource Center

NYS Department of Taxation and Finance

Address
W.A. Harriman Campus

Albany NY 12227

Website https://www.tax.ny.gov/

Phone (518) 485-2889