2020 New York Laws
TAX - Tax
Article 1 - Short Title; Definitions; Miscellaneous
44 - Employer-Provided Child Care Credit.

§  44.  Employer-provided  child  care credit. (a) General. A taxpayer
subject to tax under article nine-A, twenty-two, or thirty-three of this
chapter shall be allowed a credit against such tax in an amount equal to
the portion of the credit that is allowed to the taxpayer under  section
45F  of  the internal revenue code that is attributable to (i) qualified
child care expenditures paid or incurred with  respect  to  a  qualified
child  care  facility  with  a situs in the state, and to (ii) qualified
child care resource and referral  expenditures  paid  or  incurred  with
respect  to  the  taxpayer's  employees working in the state. The credit
allowable under this subdivision for any taxable year shall  not  exceed
one  hundred  fifty  thousand  dollars.  If  the  entity  operating  the
qualified child  care  facility  is  a  partnership  or  a  New  York  S
corporation,  then such cap shall be applied at the entity level, so the
aggregate credit allowed to all the partners  or  shareholders  of  such
entity  in  a  taxable  year  does not exceed one hundred fifty thousand
dollars.
  (b) Credit recapture. If there is a cessation of operation  or  change
in  ownership,  as  defined  by section 45F of the internal revenue code
relating to a qualified child care facility with a situs in  the  state,
the  taxpayer  shall add back the applicable recapture percentage of the
credit allowed under this  section  in  accordance  with  the  recapture
provisions  of  section  45F  of  the  internal  revenue  code,  but the
recapture amount shall be limited  to  the  credit  allowed  under  this
section.
  (c) Reporting requirements. A taxpayer that has claimed a credit under
this   section  shall  notify  the  commissioner  of  any  cessation  of
operation,  change  in  ownership,  or  agreement  to  assume  recapture
liability  as  such  terms  are  defined  by section 45F of the internal
revenue code, in the form and manner prescribed by the commissioner.
  (d)  Definitions.  The  terms  "qualified  child  care  expenditures",
"qualified  child  care  facility",  "qualified  child care resource and
referral expenditure", "cessation of operation", "change of  ownership",
and "applicable recapture percentage" shall have the same meanings as in
section 45F of the internal revenue code.
  (e)  Cross-references.  For  application of the credit provided for in
this section, see the following provisions of this chapter:
  (1) article 9-A: section 210-B, subdivision 53;
  (2) article 22: section 606(i), subsections (i) and (jjj);
  (3) article 33: section 1511, subdivision (dd).