Eligibility criteria

§ 483. Eligibility criteria. 1. To be eligible for a tax credit under\nthe COVID-19 capital costs tax credit program, a business entity must:\n (a) be a small business as defined in section one hundred thirty-one\nof this chapter and have two million five hundred thousand dollars or\nless of gross receipts in the taxable year that includes December\nthirty-first, two thousand twenty-one;\n (b) operate a business location in New York state; and\n (c) have at least two thousand dollars in qualifying COVID-19 capital\ncosts.\n 2. A business entity must be in substantial compliance with any public\nhealth or other emergency orders or regulations related to the entity's\nbusiness sector or other laws and regulations as determined by the\ncommissioner. In addition, a business entity may not owe past due state\ntaxes or local property taxes unless the business entity is making\npayments and complying with an approved binding payment agreement\nentered into with the taxing authority.\n