Check Eligibility for COVID-19 Capital Cost Tax Credit

The State has established a $250 million fund to help small businesses that made investments to comply with emergency orders and regulations or to increase public safety and they’ve created an online intake tool to help you determine your eligibility for this tax credit program. All small businesses deemed eligible will be provided a program application.

Tax credits will cover 50 percent of eligible costs, up to $50,000, for a maximum tax credit award of $25,000. Credits will be awarded on a first come first serve basis until program funds are exhausted. Eligible COVID-19-related costs include, but are not limited to:

• Supplies to disinfect or protect against COVID-19 transmission
• Costs associated with expanding or defining space to accommodate social distancing
• HVAC equipment
• Expenses related to increased outdoor activity and outdoor space expansions
• Machinery and equipment to facilitate contactless sales

Eligible businesses must operate a location in New York State, have 100 or fewer employees, $2.5 million or less of gross receipts in the 2021 tax year, and at least $2,000 in eligible costs between January 1, 2021 and December 31, 2022. To receive a credit for your 2022 tax return you must receive a certificate from the State on or before December 31, 2022. For more information visit esd.ny.gov/covid-19-capital-cost-tax-credit.