Investment Credits

Qualifying investment credit property. The credit is allowed for investment in new or used tangible personal property or other tangible property (including buildings and structural components of buildings) that: is acquired, constructed, reconstructed, or erected by the taxpayer after December 31, 1968; is depreciable under section 167 or section 168 of the IRC; has a useful life of four years or more; is acquired by purchase as defined in section 179(d) of the IRC; is located in New York State; and is one of the following types of property (see definitions below): manufacturing and production property retail enterprise property (see below) waste treatment property pollution control property research and development property

For more information see IT-212-I

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