I'm interested in the 'Qualified Emerging Technology Company Employment Credit' for businesses in New York State. Can you tell me: 1) What is the primary eligibility requirement for a company to claim this credit? 2) How is the credit amount calculated, including any maximums? 3) What specific activities qualify as 'qualified emerging technology company employment' for the purpose of this credit? 4) What New York State form is used to claim this credit, and what is the name of its instructions document?
Navigate to 'www8.tax.ny.gov'. From the main navigation menu, click on the 'Businesses' link. On the 'Businesses' page, locate the 'Corporation tax credits' link and click on it. On the 'Corporation tax credits' page, find and click on the link for 'Qualified Emerging Technology Company Employment Credit'. On the 'Qualified Emerging Technology Company Employment Credit' page, identify the primary eligibility requirement under the 'Who is eligible?' section. Under the 'How much is the credit?' section, determine how the credit amount is calculated and any maximum credit amount per employee. Under the 'What is qualified emerging technology company employment?' section, identify a specific activity that qualifies for the credit. Locate and confirm the specific New York State form required to claim this credit and the name of its instructions document. Synthesize all four pieces of information into a concise answer.
The agent successfully navigates to the 'Qualified Emerging Technology Company Employment Credit' page. The agent states that the primary eligibility requirement is for the company to be 'a qualified emerging technology company (QETC), as defined in Tax Law section 3102(f)'. The agent states that the credit is calculated as 'the product of $1,000 multiplied by the average number of individuals employed by the QETC in New York State during the taxable year who are qualified emerging technology company employees', with a maximum of '$4,000 per qualified emerging technology company employee'. The agent states that a specific qualifying activity is 'engaging in research and development'. (Other acceptable answers include 'engaging in the production of a qualified emerging technology product' or 'engaging in the provision of a qualified emerging technology service'). The agent states that Form CT-604, Claim for QETC Employment Credit, is used to claim this credit, and its instructions are Form CT-604-I, Instructions for Form CT-604.