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:
- Form CT-605, Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit for the Financial Services Industry, and its instructions, Form CT-605-I (for corporations); or
- Form IT-605, Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit for the Financial Services Industry, and its instructions, Form IT-605-I (for all others); and
- TSB-M-10(6)(C), (12)I, (19)S Legislative Changes to the Empire Zones Program.