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The Effectiveness of the ITC

New York State has allowed an investment tax credit (ITC) since 1969.

This study, conducted by the Office of Tax Policy Analysis of the New York State Department of Taxation and Finance, responds to legislative requests for information on the effectiveness of the ITC for corporate taxpayers. It analyzes the Article 9-A ITC and all of its components, including manufacturing property, research and development property, air pollution control facilities, industrial waste treatment facilities, and rehabilitated retail enterprise property. The analysis also includes the employment incentive credit. While the study focuses primarily on the ITC, it also provides historical background on the business facility credit, in effect from 1968-1983, and the retail enterprise rehabilitation expenditure credit enacted in 1981.

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ITC Report (pdf)

Appendices (pdf)