Semiconductor manufacturing workforce training program credit
Who is eligible?
You are entitled to claim this refundable tax credit if you or your business:
- operates a semiconductor manufacturing or a manufacturing business in New York State;
- is approved to participate in the semiconductor manufacturing workforce training incentive program; and
- is issued a certificate of tax credit by Empire State Development (ESD).
For more information about the program and the application process, visit the Empire State Development website. ESD makes all determinations regarding credit eligibility.
How much is the credit?
The credit is equal to 75% of wages, salaries or other compensation, training costs, and wrap around services up to $25,000 per employee receiving eligible training and cannot exceed a total of:
- $5 million for each eligible semiconductor manufacturing business; or
- $1 million for each eligible non-semiconductor manufacturing business
Note: The credit is allowed in the tax year in which eligible training is completed.
How do I claim the credit?
To claim the credit, complete and file Form CT-669 or IT-669, Semiconductor Manufacturing Workforce Training Program Credit, as applicable, with your tax return. You must:
- claim only the amount listed on the certificate of tax credit for that tax year, and
- submit a copy of the certificate with your return.
Additional information
Form CT-669, Semiconductor Manufacturing Workforce Training Program Credit, and its instructions (for corporations)
Form IT-669, Semiconductor Manufacturing Workforce Training Program Credit, and its instructions (for all others)