§ 25-FF — Definitions

New York § 25-FF

• Jurisdiction: New York
• Law GCT: General City
• Art. 2-K: Relocation Assistance Credit Per Employee

Text

§ 25-ff. Definitions. When used in this article, the following terms\nshall have the following meanings:\n (a) "Aggregate employment shares" means the sum of all employment\nshares maintained by an eligible business in a taxable year.\n (b) "Eligible aggregate employment shares" means, in the case of an\neligible business, the amount, if any, of aggregate employment shares\nmaintained by an eligible business in eligible premises in the taxable\nyear in which such eligible business claims a credit pursuant to a local\nlaw enacted in accordance with section twenty-five-gg of this article;\nprovided, however, that:\n (1) such amount shall not exceed the lesser of:\n (i) the number of aggregate employment shares maintained by such\neligible business in eligible premises in the taxable year during which\nsuch eligible business relocates;\n (ii) the maximum approved employment shares for such eligible\nbusiness; or\n (iii) an amount equal to the product of multiplying the aggregate\nemployment shares and the linear scalar for such eligible business in\nsuch tax year; and\n (2) a full-time work week or part-time work week at eligible premises\nprior to the date of relocation shall not be taken into account in\ndetermining eligible aggregate employment shares.\n (c) "Eligible business" means any person subject to a tax imposed\nunder a local law enacted pursuant to part two or three of section one,\nor section two of chapter seven hundred seventy-two of the laws of\nnineteen hundred sixty-six that:\n (1) has been conducting substantial business operations at one or more\nbusiness locations outside of New York state for the twenty-four\nconsecutive months immediately preceding the taxable year during which\nsuch eligible business relocates but has not maintained employment\nshares at premises in New York state at any time during the period\nbeginning January first, two thousand twenty-five and ending on the date\nsuch business enters into a lease or a contract to purchase the premises\nthat will qualify as eligible premises pursuant to this article; and\n (2) on or after July first, two thousand twenty-five relocates all or\npart of such business operations.\n (d) "Eligible premises" means one or more non-residential premises\nthat consist of at least ten thousand square feet that are:\n (1) wholly contained in real property located in a city with a\npopulation of one million or more; and\n (2) if contained in real property wholly located in the borough of\nManhattan, are premises for which final certificates of occupancy were\nissued prior to January first, two thousand.\n (e) "Employment share" means, for each employee, partner or sole\nproprietor of an eligible business, the sum of: (1) the number of\nfull-time work weeks worked by such employee, partner or sole proprietor\nduring the eligible business's taxable year divided by the number of\nweeks in the taxable year; and (2) the number of part-time work weeks\nworked by such employee, partner or sole proprietor during the eligible\nbusiness's taxable year divided by an amount equal to twice the number\nof weeks in the taxable year. Employment share shall not include\nfull-time or part-time work weeks attributable to employees, partners or\nsole proprietors acquired by an eligible business as a result of a\nmerger with, acquisition of another person, or a transaction having a\ncomparable effect, that occurs after June thirtieth, two thousand\ntwenty-five, and before the end of the taxable year in which a credit is\nclaimed by such eligible business pursuant to a local law enacted in\naccordance with section twenty-five-gg of this article, or to\nsuccessors, if any, to those employees, partners or sole proprietors.\n (f) "Full-time work week" means a week during which at least\nthirty-five hours of gainful work has been performed by an employee,\npartner or sole proprietor.\n (g) "Hotel services" means any services that consist predominately of\nthe lodging of guests at a building or a portion thereof that is\nregularly used and kept open for such services. Hotel services shall\ninclude the lodging of guests at an apartment hotel, a motel, boarding\nhouse or club, whether or not meals are served.\n (h) "Linear scalar" means, for an eligible business in a taxable year\nin which a credit is claimed pursuant to a local law enacted in\naccordance with section twenty-five-gg of this article, the quotient of\ndividing the total square footage of an eligible premises by the product\nof multiplying one hundred seventy-five by such business's aggregate\nemployment shares.\n (i) "Maximum approved employment shares" means a limitation on the\naggregate employment shares that an eligible business may receive in any\ntaxable year determined by the mayor pursuant to a local law enacted in\naccordance with section twenty-five-gg of this article based on\ndocumentation submitted by such business demonstrating such business's\nintention to relocate. The maximum approved employment shares is the\nnumber of aggregate employment shares such business intends to relocate\nas indicated by the mayor on the applicable initial certification of\neligibility.\n (j) "Mayor" means the mayor of a city having a population of one\nmillion or more, or an agency of such city as designated by such mayor.\n (k) "Part-time work week" means a week during which at least fifteen\nbut less than thirty-five hours of gainful work has been performed by an\nemployee, partner or sole proprietor.\n (l) "Person" includes any individual, partnership, association,\njoint-stock company, corporation, estate or trust, limited liability\ncompany, and any combination of the foregoing.\n (m) "Program total" means the sum of maximum approved aggregate\nemployment shares included in all initial certification of eligibility\nissued by the mayor.\n (n) "Relocate" means, with respect to an eligible business, to\ntransfer a pre-existing business operation to an eligible premises, or\nto establish a new business operation at such premises, provided that an\neligible business shall not be deemed to have relocated unless at least\none employee, partner or sole proprietor of the eligible business is\ntransferred to such premises from a pre-existing business operation\nconducted outside the state of New York. The date of relocation shall be\nthe first day on which the individual so transferred commences work at\nsuch eligible premises. The taxable year of relocation shall be the\ntaxable year in which the date of relocation occurs. For purposes of\nthis article, an eligible business may relocate only once but may add or\nsubstitute other eligible premises throughout such period.\n (o) "Retail activity" means any activity which consists predominately\nof:\n (1) the sale, other than through the mail or by the telephone or by\nmeans of the internet, of tangible personal property to a person, for\nany purpose unrelated to the trade or business of such person;\n (2) the selling of a service to an individual which generally involves\nthe physical, mental or spiritual care of such individual;\n (3) the physical care of the personal property of any person unrelated\nto the trade or business of such person; or\n (4) the provision of a retail banking service.\n