N.Y. Comp. Codes R. & Regs. tit. 5 § 250.5

Current through Register Vol. 46, No. 53, December 31, 2024

Section 250.5 - Allocation of the Employee Training Incentive Program credit

(a) The total amount of tax credits listed on certificates of tax credit issued by the commissioner for any taxable year shall not exceed $5,000,000, and, of that $5,000,000, the amount of tax credits allocated for business entities providing eligible internship programs shall be at least $250,000 and no more than $1,000,000.

(b) In the event that the capital investment costs incurred by a participating business entity, as determined by the Department pursuant to paragraph (b) of section 250.6 of this Part, do not equal at least ten times the amount of the credit to which the business entity is entitled based upon its eligible training costs, then the Department shall issue a pro-rated certificate of tax credit in an amount equal to no more than one-tenth of the capital investment costs incurred by the participating business entity.

N.Y. Comp. Codes R. & Regs. Tit. 5 § 250.5

Adopted New York State Register February 17, 2016/Volume XXXVIII, Issue 07, eff.2/17/2016

Amended New York State Register April 11, 2018/Volume XL, Issue 15, eff. 4/11/2018