To be eligible, a company must have qualified expenses (to calculate the credit) and meet the following requirements:

1. Engage in biotechnology
2. Meet one or both of the following requirements:
   • The company must have a ratio of research and development funds to net sales that is equal to or exceeds the average ratio of all companies surveyed by the National Science Foundation
   • The primary products or services of such company must be classified as emerging technologies
3. Employ 100 or fewer full-time employees, with at least 75% based in New York City
4. Have a research and development to net sales ratio of at least 6%
5. Have annual product sales not exceeding $10 million
6. Have gross revenues of no more than $20 million in the preceding year (this includes the gross revenues of affiliates and related members)

You must apply no later than January 15 following the calendar year of the credit. If the due date falls on a weekend or a national holiday, the deadline will be the next business day.

The deadline for 2024 was January 15, 2025.

Before you can file an application online, you must register a business tax return using e-Services.

Register or log into an e-Services account.

Once you have registered, you will be able to log in.

From your account panel:

1. Click "More Requests"
2. Then select "Biotechnology Credit Application" within the Business Credit Applications section.