N.Y. TAX Law § 187-O

§ 187-o. Temporary deferral nonrefundable payout credit. 1. Allowance\nof credit. A taxpayer shall be allowed a credit, to be computed as\nprovided in subdivision one of section thirty-four of this chapter,\nagainst either the taxes imposed by sections one hundred eighty-three\nand one hundred eighty-four, or the tax imposed by section one hundred\neighty-six-a of this article. However, the amount of such credit against\nthe tax imposed by section one hundred eighty-four of this article shall\nbe the excess of the amount of that credit over the amount of any credit\nallowed by this section against the tax imposed by section one hundred\neighty-three of this article.\n 2. Application of credit. In no event shall the credit under this\nsection be allowed in an amount which will reduce the tax to less than\nthe applicable minimum tax fixed by section one hundred eighty-three of\nthis article. If, however, the amount of credit allowed under this\nsection for any taxable year reduces the tax to such amount, any amount\nof credit not deductible in such taxable year may be carried over to the\nfollowing year or years and may be deducted from the taxpayer's tax for\nsuch year or years.\n