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How do you account for a received tax credit?

DAVID REITER's Profile

Hello,

We are anticipating receiving a payment from New York State for the Excelsior Tax Credit (https://www.tax.ny.gov/pit/credits/excelsior.htm)

I assume this would be classified as other income on the P&L. Is that the case?

Answers

Rich Rotondo
Title: Manager
Company: Nyl
(Manager, Nyl) |

I record as a credit to income tax

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