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Department of Taxation and Finance

Empire Zone investment tax credit (EZ-ITC) for the financial services industry

The Empire Zones Program expired on June 30, 2010.

The eligibility period for EZ businesses and designation period for EZs in which the business was certified for purposes of the EZ-ITC expired on April 1, 2014. For tax years beginning on or after April 1, 2014, the business may only claim a credit carryover from previous years.

A recapture of the EZ-ITC previously allowed must be computed if the property is disposed of or ceases to be in qualified use prior to the end of its useful life.

For additional information, see: