Empire State Jobs Retention Program Credit
Who is eligible?
You are entitled to this refundable credit if you or your business has been accepted into the Empire State Jobs Retention Program under the following criteria:
- operate predominantly in New York State in certain industries;
- are located in a county in which the governor declared an emergency on or after January 1, 2011;
- demonstrate substantial physical damage and economic harm resulting from the event leading to the emergency declaration by the governor;
- have had at least 100 full-time equivalent jobs in the county in which an emergency has been declared by the governor on the day immediately preceding the day the event leading to the declaration occurred, and must retain or exceed that number of jobs in New York State.
In addition, you or your business must:
- have been issued a certificate of tax credit by Empire State Development, and
- agree to be permanently disqualified for Empire Zone benefits at any location that qualifies for Empire State Jobs Retention Program benefits.
How much is the credit?
- The credit is equal to 6.85% of the gross wages paid for Empire State jobs retention program impacted jobs.
- Empire State Development's Web site
- Form CT-634, Claim for Empire State jobs retention program credit, and its instructions (for corporations); or
- Form IT-634, Claim for Empire State jobs retention program credit, and its instructions (for all others).