Independent Analysis of Tax Credits, Deductions, and Incentives

Section 180 of the Tax Law, created under the Fiscal Year 2022-23 Enacted Budget, required DTF to contract with an economic impact firm to create “an independent, comprehensive, analysis of each tax credit, tax deduction, and tax incentive established in this chapter or any other chapter of the law which relates to increasing economic development[.]”  This analysis was required to be submitted to the Department of Taxation and Finance before January 1, 2024, and to be posted by DTF on its website within 30 days.

After a competitive bidding process, PFM Group Consulting LLC was selected as the economic impact firm. The firm created and timely submitted its report titled Economic Impact of Tax Incentive Programs (pdf).

To view and print the pdf report, install the free Adobe Acrobat Reader. 

The original report, as submitted, is not compatible with assistive technology.  The Tax Department has prepared an accessible version of the report as a Word document, which is available here.