Zone Capital Credits

A unique feature of New York State's Empire Zone Program helps selected businesses grow and stimulates community development projects. The program offers a 25% tax credit against personal or corporate income taxes for a direct equity investment in a selected certified zone business or for contributions to approved community development projects within the Zone.

The tax credit is available to any individual or corporation -- only the investment must be in the Empire Zone.

The certified business or approved community development project must fit certain criteria selected by the Zone Administration Board. Donations to community development projects must be for a minimum of $1,000. The Franklin County Board has approved zone capital credits for the following projects:

• 4-H Camp Overlook
  
  
• Historic Saranac Lake
  
  
• Malone Minor Hockey State Street Arena renovation.
  
  
• Natural History Museum of the Adirondacks
  
  
• Paul Smiths College Student Center