New York A10578 creates a tax credit for small businesses converting to renewable energy.

New York A10578 amends the tax law to introduce a small business grid renewable energy tax credit. Eligible taxpayers can claim a credit equal to 20% of the conversion cost from electric or gas to renewable energy. To qualify, businesses must have no more than 19 full-time employees in New York, not be a sole proprietorship with a primary business location in the owner's residence, not be certified under certain municipal law articles, not receive allocations from economic development programs, and be located within a certain radius of other qualified small businesses.

New York A10578 creates a tax credit for small businesses converting to renewable energy.

New York A10578 amends the tax law to introduce a small business grid renewable energy tax credit. Eligible taxpayers can claim a credit equal to 20% of the conversion cost from electric or gas to renewable energy. To qualify, businesses must have no more than 19 full-time employees in New York, not be a sole proprietorship with a primary business location in the owner's residence, not be certified under certain municipal law articles, not receive allocations from economic development programs, and be located within a certain radius of other qualified small businesses.