§ 434. Tax benefits.
1.A business that is accepted into the START-UP\nNY program and locates in a tax-free NY area or the owner of a business\nthat is accepted into the START-UP NY program and locates in a tax-free\nNY area is eligible for the tax benefits specified in section\nthirty-nine of the tax law. Subject to the limitations of subdivision\ntwo of this section, employees of such business satisfying the\neligibility requirements specified in section thirty-nine of the tax law\nshall be eligible for the personal income tax benefits described in such\nsection in a manner to be determined by the department of taxation and\nfinance.\n 2. The aggregate number of net new jobs approved for personal income\ntax benefits under this article shall not exceed ten thousand jobs per\nyear duri
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§ 434. Tax benefits. 1. A business that is accepted into the START-UP\nNY program and locates in a tax-free NY area or the owner of a business\nthat is accepted into the START-UP NY program and locates in a tax-free\nNY area is eligible for the tax benefits specified in section\nthirty-nine of the tax law. Subject to the limitations of subdivision\ntwo of this section, employees of such business satisfying the\neligibility requirements specified in section thirty-nine of the tax law\nshall be eligible for the personal income tax benefits described in such\nsection in a manner to be determined by the department of taxation and\nfinance.\n 2. The aggregate number of net new jobs approved for personal income\ntax benefits under this article shall not exceed ten thousand jobs per\nyear during the period in which applications are accepted pursuant to\nsection four hundred thirty-six of this article. The commissioner shall\nallocate to each business accepted to locate in a tax-free NY area a\nmaximum number of net new jobs that shall be eligible for the personal\nincome tax benefits described in subdivision (e) of section thirty-nine\nof the tax law based on the schedule of job creation included in the\napplication of such business. At such time as the total number of net\nnew jobs under such approved applications reaches the applicable\nallowable total of aggregate net new jobs for tax benefits for the year\nin which the application is accepted, the commissioner shall stop\ngranting eligibility for personal income tax benefits for net new jobs\nuntil the next year. Any business not granted such personal income tax\nbenefits for net new jobs for such reason shall be granted such benefits\nin the next year prior to the consideration of new applicants. In\naddition, if the total number of net new jobs approved for tax benefits\nin any given year is less than the maximum allowed under this\nsubdivision, the difference shall be carried over to the next year. A\nbusiness may amend its schedule of job creation in the same manner that\nit applied for participation in the START-UP NY program, and any\nincrease in eligibility for personal income tax benefits on behalf of\nadditional net new jobs shall be subject to the limitations of this\nsubdivision. If the business accepted to locate in a tax-free NY area\ncreates more net new jobs than for which it is allocated personal income\ntax benefits, the personal income tax benefits it is allocated shall be\nprovided to those individuals employed in those net new jobs based on\nthe employees' dates of hiring.\n