NY A10115

Establishes a qualified emerging technology commercialization tax credit under New York tax law for eligible companies with annual product sales of $10 million or less and R&D spending ratios meeting or exceeding national averages

Eligible taxpayers must have no more than 100 full-time employees (at least 75% employed in New York State), R&D-to-sales ratio of 6% or more, and combined gross revenues with affiliates not exceeding $20 million in the preceding year

Provides a 15% tax credit on qualified commercialization expenses including testing, prototyping, design, materials, legal fees, university technology licensing, and trade show costs for in-house or contracted work

Limits credit to four consecutive taxable years with a maximum of $100,000 per year, with excess credits treated as tax overpayments and refunded without interest

Effective immediately for taxable years beginning January 1, 2010, and applies to both corporate franchise tax (Section 210) and personal income tax (Section 606)