Hot Spot Program
Companies certified by an innovation hot spot may be eligible for tax benefits. To be certified, your company must:
- Belong to an incubator that is a designated Hot Spot in New York State. See this page for a list of Hot Spot incubators. Partner incubators of the Southern Tier Startup Alliance (The Center, IncubatorWorks, the Kevin M. McGovern Center for Venture Development in the Life Sciences, Rev: Ithaca Startup Works, and the Start-Up Suites at Binghamton University) are considered part of the Hot Spot program.
- Be less than five years old, or less than 7 years old for life science companies.
- Have less than $2 million per year in annual revenue.
Final determination for tax benefit eligibility is up to the New York State Division of Taxation and Finance. See this blog post for more information on the Hot Spot program.