Eligible Employer
A corporation (including an S corporation), a sole proprietorship, a limited liability company, or a partnership.
Eligible Employee
- Employed in NYS
- At least 16 but not yet 20 years of age
- A student during the period he/she is paid at the NYS minimum wage rate
- Paid at the NYS minimum wage rate during some part of the tax year by the eligible employer (the employer must obtain and retain documentation to verify the individual was enrolled as a student at an eligible educational institution)
Credit Amount
$1.35 per minimum wage hour worked by eligible employees during the tax year.
- The credit can only be received for hours worked by eligible employees for which they were paid at the NYS minimum wage rate applicable to that employee. Hours paid to an employee above the minimum wage are not eligible.
- The credit is reduced if the federal minimum wage is increased to more than 85% of NYS' minimum wage.
NOTE:
Terminating an
ineligible
employee in order to hire an
eligible
employee with the only intent being to qualify for the credit will result in the credit being disallowed for all eligible employees.
This credit is valid for tax years ending before January 1, 2019 (unless extended).
