2023 New York Laws
TAX - Tax
Article 1 - Short Title; Definitions; Miscellaneous
49 - Newspaper and Broadcast Media Jobs Tax Credit.

* §  49.  Newspaper and broadcast media jobs tax credit. (a) Allowance
of credit. A taxpayer subject to tax under article nine-A or  twenty-two
of  this chapter shall be allowed a credit against such tax, pursuant to
the provisions referenced in subdivision (e) of this section. The amount
of the credit is equal to the  amount  determined  pursuant  to  article
twenty-seven  of  the  economic  development  law.  A taxpayer that is a
partner in a partnership, member  of  a  limited  liability  company  or
shareholder  in a subchapter S corporation shall be allowed its pro-rata
share of the credit  allowed  for  the  partnership,  limited  liability
company or subchapter S corporation. No cost or expense paid or incurred
that  is included as part of the calculation of this credit shall be the
basis of any other tax credit allowed under this chapter.
  (b) Eligibility. To be eligible to claim the newspaper  and  broadcast
media  jobs tax credit the taxpayer shall have been issued a certificate
of tax credit by the department  of  economic  development  pursuant  to
article  twenty-seven of the economic development law, which certificate
shall set forth the amount of the credit that may  be  claimed  for  the
taxable  year.  The  taxpayer  shall be allowed to claim only the amount
listed on the certificate of tax credit for that taxable year.
  (c) Tax return requirement. The taxpayer shall be required  to  attach
to  its tax return, in the form prescribed by the commissioner, proof of
receipt of its certificate of tax credit issued by the  commissioner  of
the department of economic development.
  (d)  Credit  recapture.  If  a certificate of tax credit issued by the
department of economic development under  article  twenty-seven  of  the
economic  development  law  is revoked by such department, the amount of
credit described in this section and claimed by the  taxpayer  prior  to
that  revocation shall be added back to tax in the taxable year in which
any such revocation becomes final.
  (e) Cross references. For application of the credit provided  in  this
section see the following provisions of this chapter:
  (1) article 9-A: section 210-B, subdivision 60.
  (2) article 22: section 606, subsection (ppp).
* NB There are two § 49's