Start up Ny Templates

Start-Up NY, also known as the Start-Up NY Tax Elimination Credit, is an exciting program offered by the state of New York to foster economic growth and job creation. It aims to attract and retain innovative businesses by providing them with substantial tax incentives and other benefits.

Under the Start-Up NY program, eligible businesses that create new jobs and meet certain criteria can enjoy significant tax savings, including the elimination of certain taxes for a specified period of time. These taxes may include corporate franchise taxes, business income taxes, sales and use taxes, and property taxes.

To take advantage of the Start-Up NY program, businesses must complete the appropriate forms and meet the program requirements. The documentation process includes submitting the Form IT-638 Start-Up NY Tax Elimination Credit and the Form IT-645 Recapture of Start-Up NY Tax Benefits. In addition, businesses in the telecommunication industry may also be eligible for the Start-Up NY Telecommunication Services Excise Tax Credit, which requires the completion of the Form CT-640.

The Start-Up NY program provides a unique opportunity for businesses to thrive in New York without the burden of certain taxes. By participating in this program, businesses can access a talented workforce, collaborate with leading academic institutions, and enjoy a vibrant business ecosystem. Whether you are an entrepreneur or an established business owner, Start-Up NY can be a game-changer for your company's growth and success.

Invest in the future of your business with Start-Up NY. Take advantage of the tax benefits, attractive incentives, and unmatched resources that this program offers. Join the countless businesses that have already benefitted from the Start-Up NY program and watch your business thrive in the Empire State.