New York Tax Law (Consolidated Laws)
N.Y. Tax Law § 44
Employer-provided child care credit
§ 44. Employer-provided child care credit. (a) General. A taxpayer subject to tax under article nine-A, twenty-two, or thirty-three of this chapter shall be allowed a credit against such tax in an amount equal to two hundred percent of the portion of the credit that is allowed to the taxpayer under section 45F of the internal revenue code that is attributable to (i) qualified child care expenditures paid or incurred with respect to a qualified child care facility with a situs in the state, and to (ii) qualified child care resource and referral expenditures paid or incurred with respect to the taxpayer's employees working in the state. The credit allowable under this subdivision for any taxable year shall not exceed five hundred thousand dollars. If the entity operating the qualified child care facility is a partnership or a New York S corporation, then such cap shall be applied at the entity level, so the aggregate credit allowed to all the partners or shareholders of such entity in a taxable year does not exceed five hundred thousand dollars.
(b) Credit recapture. If there is a cessation of operation or change in ownership, as defined by section 45F of the internal revenue code relating to a qualified child care facility with a situs in the state, the taxpayer shall add back the applicable recapture percentage of the credit allowed under this section in accordance with the recapture provisions of section 45F of the internal revenue code, but the recapture amount shall be limited to the credit allowed under this section.
(c) Reporting requirements. A taxpayer that has claimed a credit under this section shall notify the commissioner of any cessation of operation, change in ownership, or agreement to assume recapture liability as such terms are defined by section 45F of the internal revenue code, in the form and manner prescribed by the commissioner.
(d) Definitions. The terms "qualified child care expenditures", "qualified child care facility", "qualified child care resource and referral expenditure", "cessation of operation", "change of ownership", and "applicable recapture percentage" shall have the same meanings as in section 45F of the internal revenue code.
(e) Cross-references. For application of the credit provided for in this section, see the following provisions of this chapter:
# (1)
article 9-A: section 210-B, subdivision 53;
# (2)
article 22: section 606(i), subsections (i) and (jjj);
# (3)
article 33: section 1511, subdivision (dd).
Source: view the official text
In this article (40 sections)
- 24-C · New York city musical and theatrical production tax credit
- 24-D · Empire state independent film production credit
- 25 · Disclosure of certain transactions and related information
- 26 · Security training tax credit
- 27 · Suspension of tax-exempt status of terrorist organizations
- 28 · Empire state commercial production credit
- 28*2 · Biofuel production credit
- 29 · Mandatory electronic filing and payment
- 30 · Bad check or failed electronic funds withdrawal fee
- 31 · Excelsior jobs program credit
- 31*2 · Empire state film post production credit
- 32 · Registration of tax return preparers
- 33 · Correction periods for electronic tax documents and payments
- 33*2 · Temporary deferral of certain tax credits
- 34 · Tax return preparers and software companies not to charge…
- 34*2 · Temporary deferral payout credits
- 35 · Use of electronic means of communication
- 35*2 · Economic transformation and facility redevelopment program tax…
- 36 · Empire state jobs retention program credit
- 37 · Alcoholic beverage production credit
- 38 · New York innovation hot spot program tax benefits
- 38*2 · Minimum wage reimbursement credit
- 39 · Tax benefits for businesses located in tax-free NY areas and…
- 39-A · Penalties for fraud in the START-UP NY program
- 40 · The tax-free NY area tax elimination credit
- 41 · Limitations on tax credit eligibility
- 42 · Farm workforce retention credit
- 42-A · Farm employer overtime credit
- 43 · Life sciences research and development tax credit
- 43*2 · Single member limited liability companies and eligibility for…
- 44 · Employer-provided child care credit
- 45 · Empire state digital gaming media production credit
- 46 · Restaurant return-to-work tax credit
- 46-A · Additional restaurant return-to-work tax credit
- 47 · COVID-19 capital costs tax credit
- 47*2 · Grade no
- 47*3 · Suspension of certain taxes on motor fuel and Diesel motor fuel
- 48 · Child care creation and expansion tax credit
- 49 · Newspaper and broadcast media jobs tax credit
- 49*2 · Commercial security tax credit