NYC Gazette

Speaker Carl Heastie today announced that the Enacted State Fiscal Year (SFY) 2024-25 Budget includes a $3,000 tax credit to help small businesses invest in retail theft prevention measures. "Small businesses are at the very core of our communities, and the Assembly Majority is committed to getting them the tools and resources they need," Speaker Heastie said. "This tax credit will help them invest in theft prevention measures and keep their businesses and their employees safe." The enacted budget implements a $3,000 tax credit for small businesses investing in retail theft prevention. Businesses with 25 or fewer employees would qualify for the credit if their retail theft prevention expenses exceed $4,000, and businesses with between 26 and 50 employees would qualify if their expenses exceed $6,000.