New York State has launched a massive tax credit program for restaurants as they rebuild their staff and recoup losses related to the coronavirus pandemic. The problem is that vast chunks of the Finger Lakes region won’t be eligible.
The Restaurant Return-to-Work Tax Credit is open to small, independently owned restaurants in areas that were designated as orange or red micro cluster zones for at least 30 consecutive days during the COVID-19 pandemic.
Even in those zones, restaurants will have to show pandemic-related losses, and show proof of hiring at least one full-time worker.
The tax credit effectively rewards restaurants that rapidly hire people. Businesses could cash in on upwards of $50,000 in tax credits altogether.
“New York’s restaurants are not only the best in the world, they are vital to the state’s economy, employing thousands of people and showcasing cuisines that reflect our great diversity. Restaurants also serve as an entrepreneurial outlet and are often families’ gateways to the American Dream,” Gov. Andrew Cuomo said in a statement. “The restaurant industry was among the hardest hit during the COVID-19 pandemic, as public health and safety concerns restricted many of its service operations. With the state’s COVID-19 restrictions lifted, restaurants opening to full capacity, and tables filling up, this will support the much-needed hiring of workers by these establishments to meet their increased demand.”
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