Tax Credits and Incentives icon

Tax Credits and Incentives

Refundable tax credits, tax abatements, grants and forgivable loans are just a few of the many tax credits and incentives offered by federal, state, and local agencies. And while each encourages investment, spurs job creation, and fosters growth, navigating the requirements demands an advisor who knows the landscape.  

We’re Experts — So You Don’t Have to Be

Our experience includes deep knowledge of:

  • Which incentives are available—including those not widely known
  • How to apply for, evaluate and accelerate receipt of funds
  • Application requirements and deadlines
  • The importance of cash flow projections in the receipt of funds
  • Empire State Development (ESD) and the Consolidated Funding Application (CFA)
  • The benefits and risks of available incentives
  • The importance of confidentiality

What’s Available —Tax Credits and Incentives

Federal:

  • Federal Research and Development (R&D) Tax Credit
  • Federal Work Opportunity Credit
  • Federal Empowerment Zone Credit
  • Federal New Markets Credit
  • Federal Opportunity Zone Benefits
  • Low Income Housing Tax Credits

New York State:

  • Brownfield Cleanup Program
  • Empire Zone Credits
  • Employment Incentive Credit
  • Excelsior Jobs Program (EJP) Historic Rehabilitation Credit
  • Investment Tax Credit Film Tax Credit: Lumsden McCormick is prequalified to perform third-party reviews of tax credit applications according to agreed-upon procedures established and published by Empire State Development - Read More
  • Reduced Tax Rates for Manufacturers
  • Start-Up NY

Local:

  • Energy incentives from the NY Power Authority, National Grid, and New York State Research and Development Authority (NYSERDA)
  • Excelsior Jobs Program
  • Industrial Development Agency (IDA)
  • Regional Economic Development Council
  • Training and Workforce Grants

Over the years we have developed an insider’s view of the requirements and application process, timing, and impact to your bottom line. We can successfully lead you through the process from start to finish, ensuring that we have pursued every available benefit.

For more information about our business tax credits and incentive strategies, contact Cory Van Deusen or complete the form below.

Services Leaders

Brian Kern

Brian J. Kern, CPA

Partner
Megan Morris

Megan E. Morris, CPA

Manager
Kristin Re’

Kristin M. Re', CPA

Manager
Mark Stack

Mark D. Stack, CPA

Principal
Cory Van Deusen V

Courtland "Cory" Van Deusen V, CPA

Partner

Upcoming Events

Webinar Series Part III: Planning, Planning, and More Planning - What’s Necessary to Optimize Your Personal Financial Position

Webinar Series Part III: Planning, Planning, and More Planning - What's Necessary to Optimize Your Personal Financial Position

June 22, 2021

Given the proposed tax rate increase to individuals, planning will be the key to mitigate financial stress. Your key takeaways from this one-hour discussion will include planning strategies that you can implement now.

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Webinar Series Part I: Federal Tax Laws Gone Wild

Webinar Series Part I: Federal Tax Laws Gone Wild

May 25, 2021

Planning is key to mitigate the impact of the administration's proposed tax law changes expected for tax year 2021. This one-hour presentation will review the potential changes and the impact to your operations.

Learn More
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