Bill > S01393

This bill establishes a job creation tax credit for businesses in New York State starting in 2026, designed to incentivize hiring and support employment. The credit allows taxpayers to claim 6% of wages paid to a new qualified employee during their first six months of employment, with the credit increasing to 12% for employees who were previously receiving unemployment insurance for at least 13 weeks or are working directly in manufacturing. Businesses can claim this credit for a maximum of 30 qualified employees per year, with each employee eligible for a tax credit of up to $750, or $1,500 for those meeting the expanded criteria. To qualify, the job must be a new, full-time position (at least 35 hours per week) that has not been transferred from another related business. The bill specifically defines eligible industries as those primarily engaged in manufacturing, processing, assembling, mining, farming, agriculture, and commercial fishing. Importantly, the law prohibits employers from firing existing employees and rehiring them solely to claim the tax credit, ensuring the intent is genuine job creation. The credit can be applied against various state tax articles and any unused credit can be treated as an overpayment to be credited or refunded.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S1393