§ 16. QEZE tax reduction credit. (a) Allowance of credit. A taxpayer\nwhich is a qualified empire zone enterprise (QEZE), or which is a sole\nproprietor of a QEZE or a member of a partnership which is a QEZE, and\nwhich is subject to tax under article nine-A, twenty-two or thirty-three\nof this chapter, shall be allowed a credit against such tax, pursuant to\nthe provisions referenced in subdivision (g) of this section, to be\ncomputed as hereinafter provided.\n (b) Amount of credit. The amount of the credit shall be the product of\n(i) the benefit period factor, (ii) the employment increase factor,\n(iii) the zone allocation factor and (iv) the tax factor.\n (c) Benefit period factor. The benefit period factor for the taxable\nyear shall be as prescribed in subdivision (c) of section fifteen of\nthis article.\n (d) Employment increase factor. The employment increase factor for the\ntaxable year shall be as prescribed in subdivision (d) of section\nfifteen of this article.\n (e) Zone allocation factor. The zone allocation factor shall be the\npercentage representing the QEZE's economic presence in empire zones\nwith respect to which the QEZE is certified under article eighteen-B of\nthe general municipal law. This percentage shall be computed by:\n (1) ascertaining the percentage which the average value of the QEZE's\nreal and tangible personal property, whether owned or rented to it, in\nempire zones with respect to which the QEZE is certified under article\neighteen-B of the general municipal law during the period covered by the\ntaxpayer's report or return bears to the average value of the QEZE's\nreal and tangible personal property, whether owned or rented to it,\nwithin the state during such period; provided that the term "value of\nthe QEZE's real and tangible personal property" shall have the same\nmeaning as such term has in subparagraph one of paragraph (a) of\nsubdivision three of section two hundred ten of this chapter; and\n (2) ascertaining the percentage of the total wages, salaries and other\npersonal service compensation, similarly computed, during such period of\nemployees, except general executive officers, of the QEZE in empire\nzones with respect to which the QEZE is certified under article\neighteen-B of the general municipal law, to the total wages, salaries\nand other personal service compensation, similarly computed, during such\nperiod, of all the QEZE's employees within the state, except general\nexecutive officers; and\n (3) adding together the percentages so determined and dividing the\nresult by the number of percentages.\n For purposes of article twenty-two of this chapter, references in this\nsubdivision to property, wages, salaries and other personal service\ncompensation shall be deemed to be references to such items connected\nwith the conduct of a business.\n (f) Tax factor. (1) General. The tax factor shall be, in the case of\narticle nine-A of this chapter, the amount of tax determined for the\ntaxable year under paragraph (a) of subdivision one of section two\nhundred ten of such article. The tax factor shall be, in the case of\narticle twenty-two of this chapter, the tax determined for the taxable\nyear under subsections (a) through (d) of section six hundred one of\nsuch article. The tax factor shall be, in the case of article\nthirty-three of this chapter, the larger of the amounts of tax\ndetermined for the taxable year under paragraphs one and three of\nsubdivision (a) of section fifteen hundred two of such article.\n (2) Sole proprietors, partners and S corporation shareholders. (A)\nWhere the taxpayer is a sole proprietor of a qualified empire zone\nenterprise, the taxpayer's tax factor shall be that portion of the\namount determined in paragraph one of this subdivision which is\nattributable to the income of the qualified empire zone enterprise. Such\nattribution shall be made in accordance with the ratio of the taxpayer's\nincome from the qualified empire zone enterpri
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