The Employment Incentive Credit (EIC) is a tax credit for businesses in New York State. If your business claims the Investment Tax Credit (ITC) and creates new jobs, you may get the EIC for the next two years.

Eligibility

To get the EIC, your business must:

• Qualify for the ITC. Learn more about the ITC.

• Increase total employment.

Benefits

The EIC lets you:

• Claim another 1.5 percent of the initial investment as a tax credit.

• Claim this credit for two years.

Eligible businesses

• Industrial firms

• Select commercial firms

• Select financial service firms

• Businesses making certain research and development investments (eligible for a modified credit)

How to claim

You claim the credit on your business’s income tax return. You need to file a separate form.