N.Y. Comp. Codes R. & Regs. tit. 20, § 5-10.6 – Elective treatment of certain property which qualifies for the economic development zone investment credit. | Midpage
§ 5-10.6
N.Y. Comp. Codes R. & Regs. tit. 20, § 5-10.6
Elective treatment of certain property which qualifies for the economic development zone investment credit.
Department of Taxation and Finance
(a) A taxpayer may elect to take the economic development zone investment tax credit on qualified property (see section 5-10.2 of this Subpart) in lieu of the following credits:
(1) eligible business facility credit (see Subpart 5-1 of this Part); or
(2) investment tax credit (see Subpart 5-2 of this Part).
(b) Where a taxpayer claimed an eligible business facility credit or an investment tax credit on property qualified for such credits, the taxpayer may not claim the economic development zone investment tax credit on such property.