2025 New York Laws
COM - Economic Development Law
Article 27 - Newspaper and Broadcast Media Jobs Program
495 - Newspaper and Broadcast Media Jobs Tax Credit.

§  495.  Newspaper  and broadcast media jobs tax credit. 1. A business
  entity that meets the eligibility requirements of section  four  hundred
  ninety-three  of  this  article,  and  meets  any additional eligibility
  criteria as articulated in  regulations  established  pursuant  to  this
  section,  and  demonstrates  a  net  employee  increase, may be issued a
  certificate of tax credit  equal  to  five  thousand  dollars  per  each
  full-time  net  employee  increase  as  defined  in section four hundred
  ninety-two of this article. A business entity, including a  partnership,
  limited  liability company and subchapter S corporation, may not receive
  in excess of twenty thousand dollars in tax credits for each print media
  business or broadcast media business under this program.
2. A business  entity  that  meets  the  eligibility  requirements  of
  section  four  hundred  ninety-three  of  this  article,  and  meets any
  additional  eligibility   criteria   as   articulated   in   regulations
  established pursuant to this section, may be issued a certificate of tax
  credit  equal  to fifty percent of annual wages of an eligible employee.
  The calculation of such a credit shall only be applied to  up  to  fifty
  thousand  dollars  in  wages  paid  annually  per  eligible  employee. A
  business entity, including a partnership, limited liability company  and
  subchapter  S  corporation,  may  not receive in excess of three hundred
  thousand dollars in  tax  credits  for  each  print  media  business  or
  broadcast media business under this program.
3.  The  total  amount  of  tax  credits listed on certificates of tax
  credit issued by the commissioner  pursuant  to  this  article  may  not
  exceed  thirty  million  dollars  for each year the credit is available.
  Within this amount, the newspaper and broadcast media new  job  creation
  component of the credit may not exceed four million dollars per year and
  the  newspaper and broadcast media existing jobs component of the credit
  may not exceed twenty-six million dollars per year. Fifty percent of the
  newspaper and broadcast media existing jobs component  credits  will  be
  set-aside  for  eligible businesses with one hundred or fewer employees.
  Fifty percent  of  the  newspaper  and  broadcast  media  existing  jobs
  component  credits  will  be set-aside for eligible businesses with over
  one hundred employees. In both instances the cap will be  three  hundred
  thousand dollars under this program.
4.  The  credit  shall be allowed as provided in section forty-nine of
  the tax law.