New York Tax Law (Consolidated Laws)
N.Y. Tax Law § 48
Child care creation and expansion tax credit
§ 48. Child care creation and expansion tax credit. (a) Allowance of credit. 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, pursuant to the provisions referenced in subdivision (f) of this section. The amount of the credit is equal to the amount determined pursuant to section three hundred ninety-four-d of the social services law and shall be claimed in the taxable year that includes the last day of the service year for which the credit is calculated. No cost or expense paid or incurred by the taxpayer 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 for the child care creation and expansion tax credit, the taxpayer shall have been issued a certificate of tax credit by the office of children and family services pursuant to section three hundred ninety-four-c of the social services law. A taxpayer that is a partner in a partnership, member of a limited liability company or shareholder in a subchapter S corporation that has received a certificate of tax credit shall be allowed its pro rata share of the credit earned by the partnership, limited liability company or subchapter S corporation.
(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 office of children and family services.
(d) Information sharing. Notwithstanding any provision of this chapter, employees of the office of children and family services and the department shall be allowed and are directed to share and exchange:
# (1)
information regarding the credit applied for, allowed or claimed pursuant to this section and taxpayers that are applying for the credit or that are claiming the credit; and
# (2)
information contained in or derived from credit claim forms submitted to the department. Except as provided in paragraph one of this subdivision, all information exchanged between the office of children and family services and the department shall not be subject to disclosure or inspection under the state's freedom of information law.
(e) Credit recapture. If a certificate of tax credit issued by the office of children and family services under title one-A of article six of the social services law is revoked by such office, 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.
(f) 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 59;
(2) article 22: section 606, subsection (ooo);
# (3)
article 33: section 1511, subdivision (ee).
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