Statute · New York Economic Development Law
N.Y. Econ. Dev. Law § 493 — Eligibility criteria
N.Y. Econ. Dev. Law § 493
- Type
- Statute
- Source
- New York Economic Development Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 493. Eligibility criteria. To be eligible for the tax credit established under this section, a business entity must:
Citator
N.Y. Econ. Dev. Law § 493 — Eligibility criteria is in force in the current edition of the Code, and nothing recorded condemns it.
§ 493. Eligibility criteria. To be eligible for the tax credit established under this section, a business entity must:
1. be an eligible business operating within an eligible industry;
2. be independently owned or, in the case of a print media business, demonstrate a reduction in circulation or in the number of full-time equivalent employees of at least twenty percent over the previous five years; and
3. operate predominantly in an eligible industry, and be located within the state of New York. The department, in its regulations promulgated pursuant to this article, shall have the authority to list certain types of establishments as ineligible.