Apply Now - NYS COVID-19 Small Business Relief Programs

COVID-19 Capital Costs Tax Credit Program

The $250 million COVID-19 Capital Costs Tax Credit Program provides financial assistance to New York State small businesses burdened with a range of operational costs stemming from the COVID-19 pandemic, from structural changes and building upgrades to health-related supplies and materials.  The Program offers qualifying businesses relief from the added economic burden by providing tax credits to help reduce the pandemic-related financial impact. Small businesses can receive a tax credit of 50% of qualifying expenses up to a maximum of $25,000 in tax credits based on qualifying expenses of $50,000.

 Eligibility:

  • NYS Small Businesses with 100 employees or less

  • 2021 gross receipts equal or less than $2.5 million

  • At least $2,000 of qualifying expenses between January 1, 2021 and December 31, 2022

NYS Pandemic Small Business Recovery Grant Program

The NYS Pandemic Small Business Recovery Grant Program now has an expanded range of eligibility, enabling more small businesses to apply for grant funds. Under the revised guidelines, the demonstration of positive net profit on 2019 Business Tax Return ($1 or greater) will no longer be considered. Grant awards will be calculated based on a business’ annual gross receipts for 2019.

Eligibility:

  • Businesses with a net loss in 2019 are now eligible to apply

Grant Amounts:

  • Annual gross receipts: $25,000-$49,999: Award is $5,000/business

  • Annual gross receipts: $50,000-$99,999: Award is $10,000/business

  • Annual gross receipts: $100,000-$2,500,000: Award is 10% of gross receipts (maximum grant is $50,000)

 

For details and application assistance, please contact: