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|  The New York State Empire Zone (EZ) Program offers a wide array of incentives including tax credits and utility discounts in 11 New York City business districts.
Qualifications
Wage Tax Credit: A $1,500 credit per employee for up to five consecutive years for hiring full-time employees in newly created jobs. For employees in 'targeted' groups, this credit equals $3,000 per year. Credit increases $500 for wages over $40,000. Investment Tax Credit A credit for the purchase of property and equipment related to production, R&D, and industrial waste treatment. The credit is 10% under the corporate franchise tax and 8% for personal income tax. Employment Incentive Credit: A credit for creating new employment in a commercial/industrial company to operate new property or equipment. This credit equals 3% of the investment cost, and used consecutively with Investment Tax Credit (ITC), it is taken in each of the 3 years following the initial claiming of the ITC. Tax Reduction Credit: Based on number of jobs created, the company's assets in the Zone and income taxes owed by the company, Qualified Empire Zones Enterprises (QEZE) can receive a credit against business corporate taxes, personal income taxes, bank corporate taxes or insurance corporate taxes 10 years. Property Tax Credit: Qualified Empire Zones Enterprises (QEZE) that own real property may receive a credit against business corporate taxes, personal income taxes, banking corporate taxes or insurance corporate taxes. Unused credits are refundable in the year that they were earned. The credit is available for 10 years. The Credit is calculated based on the number of jobs created and the real property taxes paid on property in the Zone. The company's eligibility is determined annually. Sales Tax Refund: Purchases of building materials to be used in connection with commercial or industrial properties located in an EZ is eligible for a refund of NYS sales taxes. Utility Discounts: Discount rates for Empire Zone-certified businesses are available through National Grid's Business Incentives Rate up to 25% per billing cycle, and Verizon's monthly 5% discounts per billing cycle on local phone usage. Zone Capital Credit: A 25% tax credit, against personal or corporate taxes a direct equity investment into a zone-certified business; or for cash donations to approved community development projects within EZ. Statewide Zone Capital Credit Corporation Loan: Low interest rate loan for Zone-certified businesses at 5% APR for the first 3 years and 7% for the remainder of term. Loans range from $3,000 to 300,000. Local Empire Zone Administrators
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 Have an Account Manager contact youContact your local NYC Business Solutions CentersCall 311 and ask for NYC Business SolutionsVisit NYC Industrial Business Solutions if you operate an industrial or manufacturing business.Get the license, permit, tax, incentive information and applications you need to start your business with NYC Business Express
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