N.Y. Comp. Codes R. & Regs. tit. 9 § 425.2
Current through Register Vol. 46, No. 25, June 18, 2024
Section 425.2 - Commercial, office, industrial, rental historic property rehabilitation(a) The office shall use the following schedule to assess and collect fees for processing, reviewing and certifying an application from a taxpayer for rehabilitation of a historic commercial, office, industrial or residential rental (income producing) property and for approving the taxpayer's rehabilitation expenditure under the New York State tax credit program.(b) The application submitted to the office shall consist of three parts. An initial application fee shall be submitted with part 2 and that amount shall be deducted from the final fee that shall be submitted with part 3.(c) For projects up to $100,000 in rehabilitation expenditure, the initial application fee shall be $50; for projects above $100,000 in rehabilitation expenditure the initial application fee shall be 10 percent of the estimated final fee.(d) The applicant also shall submit any receipts and documents requested by the office to assist in determining the amount of the fee and in issuing the certification.(e)Final fee.| Rehabilitation expenditure | Fee |
| (1) Under $20,000 | $100 |
| (2) $20,000 - $99,999 | $500 |
| (3) $100,000 - $499,999 | $1,000 |
| (4) $500,000 - $999,999 | $1,500 |
| (5) $1,000,000 - $2,499,999 | $2,500 |
| (6) $2,500,000 - $4,999,999 | $3,000 |
| (7) $5,000,000 - $9,999,999 | $4,000 |
| (8) $10,000,000 or more | $5,000 |
N.Y. Comp. Codes R. & Regs. Tit. 9 § 425.2