What's New

Zack Hutchins
Director of Communications

March 4, 1999 

Tax credits for New York businesses

By hiring individuals from certain targeted groups, such as people moving from welfare to work, New York businesses can tap tax incentives that have saved thousands of businesses more than $72million in federal and state taxes since 1996.

"Businesses can tap into our bank of skilled workers to fill job vacancies, putting New Yorkers back to work," Governor Pataki said in a press release March 3. "In return, businesses receive valuable tax savings that will have a direct impact on their bottom line allowing them to employ more workers, continuing our economic expansion."

Tax credits available include:

A second year credit of up to 50 percent or $5,000 is available for the first $10,000 in wages during the second year.

For more information on the tax credits, visit http://www.labor.state.ny.us/business_ny/developing_workforce/edsu/goals or call the Department of Labor Employer Hotline at 1-800-HIRE-992.