Employment incentive credit (EIC)
You're entitled to credit if you or your business:
- qualified for the investment tax credit, and
- have increased your average number of employees in New York State to at least 101% of your number of employees in New York State during your base year
How much is the credit?
- A percentage of the original investment credit base on which the ITC was allowed.
- The credit is refundable to individuals under Article 22, which includes shareholders of New York S corporations, who qualify as owners of a new business.
For additional information on claiming this credit, see:
- Form-CT-46, Claim for Investment Tax Credit, and its instructions, Form CT-46-I (for corporations); or
- Form IT-212, Investment Credit and its instructions, Form IT-212-I; and
- Form IT-212-ATT, Claim for Historic Barn Rehabilitation Credit and Employment Incentive Credit, and its instructions, Form IT-212-ATT-I (for all others).