Semiconductor tax credits (Articles 9-A and 22)

For tax years beginning on or after January 1, 2025, new refundable credits are available to eligible businesses that operate in New York State and participate in the:

Semiconductor Research and Development Project Program - the credit is up to 15% of qualified investments in semiconductor research and development projects located in New York State.

Semiconductor Manufacturing Workforce Training Incentive Program - the credit is equal to 75% of eligible wages, salaries or other compensation, and training costs.

Empire State Development (ESD) administers the programs and issues certificates of tax credit to eligible businesses.

For more information, visit Semiconductor manufacturing workforce training program credit and Semiconductor research and development credit .

[Subpart A of Part H of Chapter 59 of the Laws of 2025; Tax Law §§ 210-B.61, 210-B.62, 606(rrr) and 606(sss); Articles 17-A and 28 of the Economic Development Law]