New York A04417 creates a tax credit for manufacturing companies relocating at least fifty employees to the state.

New York A04417 creates a tax credit for manufacturing companies that already have one established place of business in the state and relocate a minimum of fifty employees from outside the state to the state. The credit is calculated as 2.5 percent of the average salaries of the newly created manufacturing jobs multiplied by the number of new jobs brought to the state. The commissioner has the authority to define "long term" jobs, and companies that lose contracts, close facilities, or suffer catastrophic events can still be eligible for the credit.

New York A04417 creates a tax credit for manufacturing companies relocating at least fifty employees to the state.

New York A04417 creates a tax credit for manufacturing companies that already have one established place of business in the state and relocate a minimum of fifty employees from outside the state to the state. The credit is calculated as 2.5 percent of the average salaries of the newly created manufacturing jobs multiplied by the number of new jobs brought to the state. The commissioner has the authority to define "long term" jobs, and companies that lose contracts, close facilities, or suffer catastrophic events can still be eligible for the credit.