Tax Programs
StartUp NY
This is a groundbreaking partnership between higher-ed and NYS. START-UP NY helps new and expanding businesses through tax-based incentives and innovative academic partnerships. START-UP NY offers new and expanding businesses the opportunity to operate tax-free for 10 years on or near eligible university or college campuses in New York State. Partnering with these schools gives businesses direct access to advanced research laboratories, development resources and experts in key industries.
Excelsior Jobs
The Excelsior Jobs Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. This program provides new-hire tax credits for employers in eight key industries: Biotech, Pharmaceutical, High-tech, Clean-tech, Green-tech, Financial, Agriculture, Manufacturing.
Dutchess County Industrial Development Agency and Local Development Corporation
Eligible businesses can benefit from attractive Dutchess County Industrial Development Agency and Local Development Corporation tax abatement and financing programs:
- Real property tax abatement (PILOT)
- NYS sales, mortgage tax abatement
- Low-interest financing
- Tax or tax-exempt bond financing
Visit the DCIDA page for more information about the application, requirements for financial assistance, what a PILOT is and how it helps your project and the Dutchess County Community.
Investment Tax Credit
You are entitled to this credit if you or your business placed qualified property into service during the tax year.
How much is the credit?
- The ITC is a percentage of the investment credit base (the cost or other basis of the investment property)
- It is refundable for new businesses
- If you are an eligible farmer, you may qualify to claim 20% of the investment credit base on qualifying property placed in service on or after 4/1/2022