N.Y. Comp. Codes R. & Regs. tit. 5 § 15.6

Current through Register Vol. 46, No. 45, November 2, 2024

Section 15.6 - Reporting requirements

A zone capital corporation shall submit to the local empire zone administrative board an annual report on its activities, which shall include but not be limited to:

(a) annual year end financial statements, audited by a certified public accountant, itemizing any and all loans and/or investments and indicating the purpose of such loans and/or investments;

(b) certification by a certified public accountant that the zone capital corporation did not acquire an equity position of over 25 percent in any certified zone business; and

(c) a signed statement from each investor in and/or contributor to the zone capital corporation claiming a zone capital tax credit, indicating the amount of such credit and the tax year proposed to claim such a credit.

N.Y. Comp. Codes R. & Regs. Tit. 5 § 15.6