Expands the definition of business entity to include not-for-profit corporations and public television or radio corporations, allowing them to claim.

New York Senate Bill S06756 amends the economic development law to expand the definition of business entity to include not-for-profit corporations and public television or radio corporations. This change allows these entities to claim the newspaper and broadcast media jobs tax credit. The bill also modifies the tax law to ensure that these entities can apply for the credit and receive refunds if the credit exceeds their tax liability. The changes will take effect immediately and apply to tax years starting on and after January 1, 2026.

Expands the definition of business entity to include not-for-profit corporations and public television or radio corporations, allowing them to claim.

New York Senate Bill S06756 amends the economic development law to expand the definition of business entity to include not-for-profit corporations and public television or radio corporations. This change allows these entities to claim the newspaper and broadcast media jobs tax credit. The bill also modifies the tax law to ensure that these entities can apply for the credit and receive refunds if the credit exceeds their tax liability. The changes will take effect immediately and apply to tax years starting on and after January 1, 2026.