Increases the maximum Excelsior Research and Development Tax Credit from six to twenty percent for qualified research and development expenditures in.
This bill amends the economic development law to increase the maximum Excelsior Research and Development Tax Credit from six to twenty percent for qualified research and development expenditures attributable to activities conducted in New York state. The credit is available to participants in the Excelsior Jobs Program and is calculated based on the portion of the participant's federal research and development tax credit that relates to New York state research and development expenditures.
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