New York S07592 provides an angel investor income tax credit for investments in qualified businesses exceeding $25,000.

New York S07592 amends the tax law to introduce an angel investor income tax credit. This credit applies to investments of $25,000 or more in qualifying businesses. The credit amount is 25% of the investment, up to a maximum of $250,000. Qualifying businesses must meet specific criteria, including having gross revenues not exceeding $1 million, employing no more than 25 full-time workers, and operating in New York for no more than seven years. The credit can be carried over to subsequent years if unused, and it cannot reduce the taxpayer's tax liability below a certain threshold.

New York S07592 provides an angel investor income tax credit for investments in qualified businesses exceeding $25,000.

New York S07592 amends the tax law to introduce an angel investor income tax credit. This credit applies to investments of $25,000 or more in qualifying businesses. The credit amount is 25% of the investment, up to a maximum of $250,000. Qualifying businesses must meet specific criteria, including having gross revenues not exceeding $1 million, employing no more than 25 full-time workers, and operating in New York for no more than seven years. The credit can be carried over to subsequent years if unused, and it cannot reduce the taxpayer's tax liability below a certain threshold.