New York S02347 creates a small business renewable energy tax credit.

New York S02347 amends the tax law to establish a small business grid renewable energy tax credit. Eligible taxpayers can claim a credit equal to 20% of the cost of converting from electric or gas to renewable energy. To qualify, a taxpayer must have no more than 19 full-time employees in New York, not be a sole proprietorship with a business location in the owner's residence, not be certified under article eighteen-B of the general municipal law, not receive an allocation or award under article six of the economic development law, and be located within a certain radius of other qualified.

New York S02347 creates a small business renewable energy tax credit.

New York S02347 amends the tax law to establish a small business grid renewable energy tax credit. Eligible taxpayers can claim a credit equal to 20% of the cost of converting from electric or gas to renewable energy. To qualify, a taxpayer must have no more than 19 full-time employees in New York, not be a sole proprietorship with a business location in the owner's residence, not be certified under article eighteen-B of the general municipal law, not receive an allocation or award under article six of the economic development law, and be located within a certain radius of other qualified.