Deadline to Apply for COVID Tax Credits for Small Businesses Extended until September 30, 2023!

June 14, 2023

Deadline to Apply for COVID Tax Credits for Small Businesses Extended until September 30, 2023!

The $250 million COVID-19 Capital Costs Tax Credit Program includes financial assistance to New York State independently owned and operated small businesses to help with costs for qualifying investments required to comply with COVID-19 emergency orders and regulations. The program was launched on October 22, 2022, and the extension was part of the enacted FY 2023-24 New York State budget. Small businesses, with 100 or less employees, are eligible for a tax credit of 50% of qualifying expenses up to a maximum of $25,000 based on expenses of $50,000. Qualifying expenses include supplies to disinfect, physical barriers, sneeze guards, hand sanitizer stations, air purifier systems, point of sale equipment for contactless payment, and signage related to the COVID-19 pandemic. Visit the New York State Empire State Development website for more information on eligibility, qualifying expenses, and how to apply: www.esd.ny.gov/covid-19-capital-costs-tax-credit

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Uncategorized

State:

New York

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