The following credits can be claimed by residents of New York City.
Child and Dependent Care Credit (New York City):
You are eligible for this credit if you:
- were a full-year or part-year New York City resident,
- paid for the child-care expenses of at least one child, who was under the age of four on December 31,
- had federal adjusted gross income of $30,000 or less, and
- qualified to claim the New York State child and dependent care credit.
NOTE: You may claim both the state and city credits.
Earned Income Credit (New York City):
You are entitled to this refundable credit if you:
- Were a full-year or part-year New York City resident, and
- Claimed the federal earned income credit.
The credit can range from 10% to 30% your allowable federal earned income credit based on your New York adjusted gross income.
NOTE: Part-year residents, the amount of the credit depends on your income subject to New York City tax.
Enhanced Real Property Tax Credit:
You are eligible for this credit if you:
- Had household gross income of less than $200,000.
- Occupied the same New York City residence for six months or more.
- Were a New York City resident for the entire tax year.
- Could not be claimed as a dependent on another person's federal tax return.
- Had a residence that was not completely exempted from real property taxes, and
- As a homeowner, you or your spouse paid real property taxes and any rent you received for nonresidential use of your residence was 20% or less of the total rent received OR as a renter, you or a member of your household paid rent for your residence.
This credit can be as much as up to $500.
Please note: This tax credit expired 12/31/2019 and cannot be claimed for tax years 2020 and forward.
Household Credit (New York City):
You are eligible for this nonrefundable credit you were a full-year or part-year New York City resident, and cannot be claimed as a dependent on another person's federal tax return.
- Individuals who are filing as Single and have a federal adjusted gross income of $12,500 or less may receive up to $15 for this credit.
- If your filing status if Married Filing Jointly, Head of Household, or Married Filing Separately, please refer to the instructions for Form IT-201 or instructions for Form IT-360.1.
- This credit is automatically calculated if you are eligible.
School Tax Credit (Fixed Amount):
You are eligible for this credit if you:
- were a full-year or part-year New York City resident,
- cannot be claimed as a dependent on another person's federal tax return, and
- had income of $250,000 or less.
Individuals who are filing as Married Filing Jointly or Qualified Widow(er) can received up to $125 for this credit. All other taxpayers can receive up to $63.
School Tax Credit (Rate Reduction Amount):
You are eligible for this credit if you:
- were a full-year or part-year resident of New York City,
- cannot be claimed as a dependent on another taxpayer's federal return, and
- had taxable New York City income of $500,000 or less.
This credit is a percentage of your New York City taxable income.
Unincorporated Business Tax Credit:
You are eligible for this nonrefundable credit if you were:
- a full-year or part year resident of New York City, and
- the owner of a business, a beneficiary of an estate or trust, or a partner in a partnership whose business, estate or trust, or partnership is subject to the NYC unincorporated business tax, or UBT.
If you are a resident of New York City or a part-year resident with taxable city income of $42,000 or less, the amount of the credit is 100% of UBT imposed. This credit does gradually decrease from 100% to 23% for taxpayers whose taxable city income is more than $42,000 but less than $142,000. The credit amount for individuals who have taxable city income of $142,000 or more is 23% of the UBT imposed.
Program Entry
- State
- Edit New York return
- New York City and Yonkers Residents
- Credit for NYC Unincorporated Business Tax
For more information, see New York City credits.