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Department of Taxation and Finance

Empire Zone investment tax credit (EZ-ITC) and employment incentive credit (EZ-EIC) for the financial services industry

Note: The Empire Zones Program is closed to new entrants.

The eligibility period for EZ businesses and designation period for EZs in which the business was certified for purposes of the EZ-ITC and EZ-EIC expired on April 1, 2014. For tax years beginning on or after April 1, 2014, the business may only claim a credit carryover from previous years.

A recapture of the credit previously allowed must be computed if the property is disposed of or ceases to be in qualified use prior to the end of its useful life.

Additional information

  • Form CT-605, Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit for the Financial Services Industry, and its instructions (for corporations); or
  • Form IT-605, Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit for the Financial Services Industry, and its instructions (for all others); and
  • TSB-M-10(6)(C), (12)I, (19)S, Legislative Changes to the Empire Zones Program.
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