The EFPR Group of Companies

For over 60 years, our knowledgeable and experienced team of CPAs and business consultants have been serving individuals and businesses in Western New York and around the nation.

Empire Zone – NYS Tax Incentives

Take advantage of significant tax credits

New York’s Empire Zone program was created in 1986 to stimulate economic growth through a variety of tax incentives for businesses new to the state or existing business in the process of expanding and creating jobs. In today’s challenging economic climate, these incentives are a cash flow boon to many State businesses.

If you’re thinking it’s time to expand, then it’s time to think about the Empire Zones.

Through the Zones, the State targeted certain geographical areas As of 2009, there are 85 Empire Zones, and more than 8700 certified businesses employing more then 344,000 people.
The list of financial incentives is impressive and includes:

  • Wage tax credit
  • Investment tax credit
  • Employment incentive credit
  • Zone capital credits
  • NYS Sales Tax refunds
  • Real property tax credit
  • State income tax reduction credit
  • Various affiliated local government credits

23 years of experience in Zone certification and credit calculation

Since the inception the Empire Zone program, EFPR Group has been assisting clients in the process of qualifying for certification, and making the annual calculation on the applicable credits. A number of partners and staff within our tax department have extensive experience in Zone applications and long-term relationships with Empire Zone Coordinators.

We remain aware of the changing trends and regulations for the Zone so eligible clients do not miss out on opportunities, or rely on credits whose eligibility rules may have changed.

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