COVID-19 Capital Costs Tax Credit Program
Applications are live for the COVID-19 Capital Costs Tax Credit Program! Eligible small businesses may receive a refundable tax credit of up to $25,000. This is a $250 million COVID-19 Capital Costs Tax Credit program overseen by Empire State Development and administered by FORWARD.
General eligibility criteria for the Capital Costs Tax Credit Program includes:
- Open to all small independently owned and operated businesses operating in New York State
- Have 100 employees or less
- Gross receipts of less than $2.5 million
- Incurred at least $2,000 of qualifying expenses between January 1, 2021 and December 31, 2022
Apply by December 1, 2022 to receive a tax credit for the 2022 tax year.