N.Y. Tax Law § 44 — Employer-provided child care credit

§ 44. Employer-provided child care credit. (a) General. A taxpayer\nsubject to tax under article nine-A, twenty-two, or thirty-three of this\nchapter shall be allowed a credit against such tax in an amount equal to\ntwo hundred percent of the portion of the credit that is allowed to the\ntaxpayer under section 45F of the internal revenue code that is\nattributable to (i) qualified child care expenditures paid or incurred\nwith respect to a qualified child care facility with a situs in the\nstate, and to (ii) qualified child care resource and referral\nexpenditures paid or incurred with respect to the taxpayer's employees\nworking in the state. The credit allowable under this subdivision for\nany taxable year shall not exceed five hundred thousand dollars. If the\nentity operating the qualified child care facility is a partnership or a\nNew York S corporation, then such cap shall be applied at the entity\nlevel, so the aggregate credit allowed to all the partners or\nshareholders of such entity in a taxable year does not exceed five\nhundred thousand dollars.\n (b) Credit recapture. If there is a cessation of operation or change\nin ownership, as defined by section 45F of the internal revenue code\nrelating to a qualified child care facility with a situs in the state,\nthe taxpayer shall add back the applicable recapture percentage of the\ncredit allowed under this section in accordance with the recapture\nprovisions of section 45F of the internal revenue code, but the\nrecapture amount shall be limited to the credit allowed under this\nsection.\n (c) Reporting requirements. A taxpayer that has claimed a credit under\nthis section shall notify the commissioner of any cessation of\noperation, change in ownership, or agreement to assume recapture\nliability as such terms are defined by section 45F of the internal\nrevenue code, in the form and manner prescribed by the commissioner.\n (d) Definitions. The terms "qualified child care expenditures",\n"qualified child care facility", "qualified child care resource and\nreferral expenditure", "cessation of operation", "change of ownership",\nand "applicable recapture percentage" shall have the same meanings as in\nsection 45F of the internal revenue code.\n (e) Cross-references. For application of the credit provided for in\nthis section, see the following provisions of this chapter:\n (1) article 9-A: section 210-B, subdivision 53;\n (2) article 22: section 606(i), subsections (i) and (jjj);\n (3) article 33: section 1511, subdivision (dd).\n