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Empire Zone (EZ) capital tax credit

The EZ capital tax credit expired on April 1, 2014. For tax years beginning on or after April 1, 2014, you or your business may only claim an EZ capital tax credit carryover or recapture from previous years.

For tax years beginning before April 1, 2014, you are entitled to this nonrefundable credit if you or your business:

  • made a contribution to an approved community development project before June 30, 2010, and made additional contributions to that approved project before April 1, 2014.  The project and all contributions must have been approved by the Commissioner of Economic Development prior to June 30, 2010.

How much is the credit?

  • The credit is equal to 25% of the total money contributed to an approved community development project made during the tax year certified by the Commissioner of Economic Development.

For additional information, see:

 

Updated: