N.Y. Tax Law § 49 — Newspaper and broadcast media jobs tax credit

* § 49. Newspaper and broadcast media jobs tax credit. (a) Allowance\nof credit. A taxpayer subject to tax under article nine-A or twenty-two\nof this chapter shall be allowed a credit against such tax, pursuant to\nthe provisions referenced in subdivision (e) of this section. The amount\nof the credit is equal to the amount determined pursuant to article\ntwenty-seven of the economic development law and shall be based on the\ncertificates of tax credit issued to eligible businesses owned by the\ntaxpayer or by an entity of which the taxpayer is a partner or\nshareholder. A taxpayer that is a partner in a partnership, member of a\nlimited liability company or shareholder in a subchapter S corporation\nshall be allowed its pro-rata share of the credit allowed for the\npartnership, limited liability company or subchapter S corporation. No\ncost or expense paid or incurred that is included as part of the\ncalculation of this credit shall be the basis of any other tax credit\nallowed under this chapter.\n (b) Eligibility. To be eligible to claim the newspaper and broadcast\nmedia jobs tax credit the eligible businesses owned by the taxpayer or\nby an entity of which the taxpayer is a partner or shareholder shall\nhave been issued a certificate of tax credit by the department of\neconomic development pursuant to article twenty-seven of the economic\ndevelopment law, which certificate or certificates shall set forth the\namount of the credit that may be claimed for the taxable year. The\ntaxpayer shall be allowed to claim only the amount or amounts listed on\nthe certificate or certificates of tax credit issued to eligible\nbusinesses owned by the taxpayer or by an entity of which the taxpayer\nis a partner or shareholder for that taxable year.\n (c) Tax return requirement. The taxpayer shall be required to attach\nto its tax return, in the form prescribed by the commissioner, proof of\nreceipt of its certificate or certificates of tax credit issued by the\ncommissioner of the department of economic development.\n (d) Credit recapture. If a certificate of tax credit issued by the\ndepartment of economic development under article twenty-seven of the\neconomic development law is revoked by such department, the amount of\ncredit described in this section and claimed by the taxpayer prior to\nthat revocation shall be added back to tax in the taxable year in which\nany such revocation becomes final.\n (e) Cross references. For application of the credit provided in this\nsection see the following provisions of this chapter:\n (1) article 9-A: section 210-B, subdivision 60.\n (2) article 22: section 606, subsection (ppp).\n * NB There are two § 49's\n