NYC Employment Opportunity Relocation Costs Credit

If your business paid qualified employment opportunity relocation costs to move your employees from an area outside of New York State to New York City, you may be able to reduce or receive a refund from your New York City business taxes by taking advantage of the employment opportunity relocation costs credit. Qualified employment opportunity relocation costs include costs incurred to move furniture, files, papers and the costs of installing telephones as a result of the relocation to New York City.  Your business must relocate at least 10 employees  in order for the tax credit to apply.  The credit applies to moving commercial and industrial employees to New York City.  The credit is the lesser of $300 (commercial)/$500 (industrial) per employee or the total relocation costs.  The credit is claimed on Form NYC-114.6.  For more detailed information, please click here and see page 3.