N.Y. Tax Law Section 46
Restaurant return-to-work tax credit

(a)

Allowance of credit. A taxpayer subject to tax under article nine-A or twenty-two 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 Economic Development Law § 475 (Restaurant return-to-work tax credit)section four hundred seventy-five of the economic development law. No cost or expense paid or incurred by the taxpayer which 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 restaurant return-to-work tax credit, the taxpayer shall have been issued a certificate of tax credit by the department of economic development pursuant to subdivision two of Economic Development Law § 474 (Application and approval process)section four hundred seventy-four of the economic development law, which certificate shall set forth the amount of the credit that may be claimed for the taxable year. The taxpayer shall be allowed to claim only the amount listed on the certificate of tax credit for that taxable year. 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 and advance payment option.

(1)

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 department of economic development.

(2)

Taxpayers who choose to use August thirty-first, two thousand twenty-one as the last date to calculate their average ending full-time employment and have received their certificate of tax credit by November fifteenth, two thousand twenty-one shall have the option to request an advance payment of the amount of tax credit they are allowed under this section. A taxpayer must submit such request to the department in the manner prescribed by the commissioner after it has been issued a certificate of tax credit by the department of economic development pursuant to subdivision two of Economic Development Law § 474 (Application and approval process)section four hundred seventy-four of the economic development law (or such certificate has been issued to a partnership, limited liability company or subchapter S corporation in which it is a partner, member or shareholder, respectively), but such request must be submitted no later than November fifteenth, two thousand twenty-one. For those taxpayers who have requested an advance payment and for whom the commissioner has determined eligible for this credit, the commissioner shall advance a payment of the tax credit allowed to the taxpayer. However, in the case of a taxpayer subject to article 9-A (Franchise Tax On Business Corporations)article nine-A of this chapter, such payment shall be equal to the amount of credit allowed to the taxpayer less twenty-five dollars. Such twenty-five dollars shall represent a partial payment of tax owed by the taxpayer under article nine-A, including any fixed dollar minimum owed under paragraph (d) of subdivision one of § 210 (Computation of tax)section two hundred ten of this chapter. When a taxpayer files its return for the taxable year, such taxpayer shall properly reconcile the advance payment and any partial payment of fixed dollar minimum tax, if applicable, on the taxpayer’s return.

(d)

Information sharing. Notwithstanding any provision of this chapter, employees of the department of economic development and the department shall be allowed and are directed to share and exchange:

(1)

information derived from tax returns or reports that is relevant to a taxpayer’s eligibility to participate in the restaurant return-to-work tax credit program;

(2)

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

(3)

information contained in or derived from credit claim forms submitted to the department and applications for admission into the restaurant return-to-work tax credit program. Except as provided in paragraph two of this subdivision, all information exchanged between the department of economic development 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 department of economic development under article twenty-five of the economic development law is revoked by such department, 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 56;

(2)

article 22: section 606, subsection (lll).

Source: Section 46 — Restaurant return-to-work tax credit, https://www.­nysenate.­gov/legislation/laws/TAX/46 (updated Apr. 23, 2021; accessed Oct. 26, 2024).

1
Short title 2
Definitions 3
Exemption from certain taxes granted to certain corporations engaged in the operation of vessels in foreign commerce 4
Exemption from certain excise and sales taxes granted to the United Nations 5
Obtaining and furnishing taxpayer identification information 5‑A
Certification of registration to collect sales and compensating use taxes by certain contractors, affiliates and subcontractors 6
Filing of warrants in the department of state 7
Inapplicability of certain money judgment enforcement procedures 8
Exemption from taxes granted to REMICs 9
Electronic funds transfer by certain taxpayers remitting withholding taxes 10
Electronic funds transfer by certain taxpayers remitting sales and compensating use taxes, prepaid sales and compensating use taxes on mo... 11
Certified capital companies 12
Internet 13
Exemption from taxation for victims or targets of Nazi persecution 14
Empire zones program 14‑A
IMB credit for energy taxes 15
QEZE credit for real property taxes 16
QEZE tax reduction credit 17
Empire zones tax benefits report 18
Low-income housing credit 19
Green building credit 20
Credit for transportation improvement contributions 21
Brownfield redevelopment tax credit 21*2
Disclosure of taxpayer information in cases involving abandoned property 22
Tax credit for remediated brownfields 23
Environmental remediation insurance credit 24
Empire state film production credit 24‑A
Musical and theatrical production credit 24‑B
Television writers’ and directors’ fees and salaries credit 24‑C
New York city musical and theatrical production tax 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 separately for New York e-file services 34*2
Temporary deferral payout credits 35
Use of electronic means of communication 35*2
Economic transformation and facility redevelopment program tax credit 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 employees of such businesses 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 tax credits 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
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Accessed:
Oct. 26, 2024

Last modified:
Apr. 23, 2021

§ 46’s source at nysenate​.gov

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