N.Y. COM Law § 485

§ 485. COVID-19 capital costs tax credit. 1. A business entity in the\nCOVID-19 capital costs tax credit program that meets the eligibility\nrequirements of section four hundred eighty-three of this article may be\neligible to claim a credit equal to fifty percent of its qualified\nCOVID-19 capital costs as defined in subdivision four of section four\nhundred eighty-two of this article. Provided, however, that such credit\nshall not be less than one thousand dollars.\n 2. A business entity, including a partnership, limited liability\ncompany and subchapter S corporation, may not receive in excess of\ntwenty-five thousand dollars under this program.\n 3. The credit shall be allowed as provided in section forty-seven,\nsubdivision fifty-eight of section two hundred ten-B and subsection\n(nnn) of section six hundred six of the tax law.\n 4. A business entity may claim the tax credit in the taxable year that\nincludes the date the certificate of tax credit was issued by the\ndepartment pursuant to subdivision three of section four hundred\neighty-four of this article.\n