New York State is excited you’re doing business with us and we can help! We offer a variety of incentives that can help you with the cost of running your manufacturing business.
For a complete list of credits and their requirements, see General business corporation (Article 9-A) tax credits and Business tax credits (Article 22).
Alcoholic beverage production credit
If you are a registered distributor under Article 18 of the Tax Law (taxes on alcoholic beverages), you may be entitled to a tax credit.
If you produce 60,000,000 or fewer gallons of beer or cider, 20,000,000 or fewer gallons of wine, or 800,000 or fewer gallons of liquor within a tax year, you could receive a credit equal to 14 cents per gallon for the first 500,000 gallons that you produce in New York State.
You may also qualify to receive 4.5 cents per gallon for each additional gallon over 500,000 produced in New York State (up to 15,000,000 additional gallons for beer, cider or wine or up to 300,000 additional gallons for liquor).
To learn more, see Alcoholic beverage production credit.
Investment tax credit (ITC)
If you or your business placed qualified property into service during the tax year, you may be entitled to this credit.
The ITC is a percentage of the investment credit base of qualified property placed into service during the tax year. Unused credits can be carried forward for 15 years (10 years for personal income taxpayers). A business that qualifies as a new business can also elect to receive a refund of unused credit instead of carrying it forward.
See Investment tax credit (ITC) to learn more.
up to 5%
on your investment
Manufacturer's real property tax credit
Qualified New York State manufacturers: You may be eligible to receive a credit equal to 20% of the real property taxes paid during the tax year on your New York State business property!
To be eligible, you must use your property principally for manufacturing, processing, assembling, refining, mining, extracting, farming, agriculture, horticulture, floriculture, viticulture, or commercial fishing.
For more information about eligibility requirements, see Manufacturer’s real property tax credit.
on your real property taxes
Excelsior jobs program tax credit
Apply for the Excelsior Jobs Program—you may be eligible to receive up to four fully refundable tax credit components:
- excelsior jobs tax credit,
- excelsior investment tax credit,
- excelsior research and development tax credit, and
- excelsior real property tax credit.
If your business participates in the Excelsior Jobs Program and has received a certificate of tax credit from Empire State Development, you will be allowed to claim the credit. The amount of each credit component allowed is determined by Empire State Development.
For more information about the Excelsior Jobs Program application and approval process, visit Empire State Development.