New York S02489 designates restaurants as qualified businesses for the commercial security tax credit program.

New York S02489 amends the executive law to include restaurants as qualified businesses for the commercial security tax credit program. This bill allows restaurants with retail or restaurant theft prevention measure expenses exceeding specified thresholds to claim a credit. The credit is equal to three thousand dollars for businesses with twenty-five or fewer employees and six thousand dollars for those with more than twenty-five employees. The act applies to taxable years beginning on or after January 1, 2025.

New York S02489 designates restaurants as qualified businesses for the commercial security tax credit program.

New York S02489 amends the executive law to include restaurants as qualified businesses for the commercial security tax credit program. This bill allows restaurants with retail or restaurant theft prevention measure expenses exceeding specified thresholds to claim a credit. The credit is equal to three thousand dollars for businesses with twenty-five or fewer employees and six thousand dollars for those with more than twenty-five employees. The act applies to taxable years beginning on or after January 1, 2025.