If you are hiring new employees or training both existing and new employees, you may be eligible for the following programs:

Empire Zone Wage Tax Credit
What it is: Five year business tax credit up to $4,000 per employee
When to apply: Annually for 5 years
Who is eligible: Empire Zone certified businesses
Which agency: NYS Dept. of Taxation and Finance
To apply: Please contact your Empire Zone Coordinator

Empowerment Zone Employee Wage Tax Credit
What it is: Federal credit up to $3,000 for employees who are Empowerment Zone residents
When to apply: Generally within tax year until 2009
Who is eligible: Businesses that are located in the Empowerment Zone
Which agency: Upper Manhattan Empowerment Zone (UMEZ) or Bronx Overall Economic Development Corporation (BOEDC)
For additional information:
If you are located in Upper Manhattan, please contact the Upper Manhattan Empowerment Zone Office
If you are located in the Bronx, please contact Bronx Overall Economic Development Corporation

Federal Work Opportunity Tax Credit (WOTC)
What it is: Federal tax credit that encourages employers to hire from eight targeted groups of job seekers
When to apply: Generally within tax year
Who is eligible: Qualified commercial and industrial businesses
Which agency: U.S. Dept. of Labor
To apply: Instructions and Form

NYC Business Solutions Training Funds
What it is: Technical support and funding to NYC employers within target sectors to develop employee skills
When to apply: Quarterly applications
Who is eligible: Approved commercial and industrial businesses
Which agency: NYC Dept. of Small Business Services
For more information
Click here for pre-application

Qualified Emerging Technology Company (QETC) Employment Tax Credits
What it is: A New York State employment credit designed to encourage the creation of jobs by emerging technology companies
When to apply: Within the tax year of investment. The credit can also be claimed for three consecutive years
Who is eligible: A qualified technology company subject to tax under Article 9-A of the Tax Law and demonstrates employment growth
Which agency: New York State Department of Taxation and Finance
To apply for credit: Instructions and Form

Qualified Emerging Technology Company (QETC) for Facilities, Operations, and Training Credit
What it is: A New York State tax credit to qualified emerging technology companies, up to $250,000 annually for at least four (4) years, for research and development, qualified research expenses, and high technology training
When to apply: Generally claimed for the tax year when the eligible expenses were incurred. The benefits can be claimed for four (4) consecutive years (five years if relocating from an academic incubator facility) and is fully refundable
Who is eligible: A qualified technology company subject to tax under Article 9-A or Article 22, have 100 full-time employees or less, with at least 75% employed in New York State, have ratio of research and development funds to net sales which equals or exceeds 6%, and have gross revenues less than $20 million for the preceding year
Which agency: New York State Department of Taxation and Finance
To apply: Instructions and Form
Related Links: BioNY/QETC; NYSTAR Tax Incentives