When a company or organization enters into an agreement for IDA bonds or straight lease benefits, it is legally defined as a “project.”

New York State General Municipal Law and related:

New York State forms for companies and organizations receiving IDA benefits:

  • ST-60 - Appointment of IDA Operator--submitted to NYS Dept. of Taxation when the agency issues a Sales Tax Exemption letter
  • ST 120.1 - Contractor Exempt Purchase Certificate--provided by the project sponsor to its vendors
  • ST-340 - Annual Reporting Form--submitted by project sponsor each year reporting on sales tax exemptions taken in the previous year
  • Publication-862 - Sales and Use Tax Classifications of Capital Improvements and Repairs to Real Property--sponsors are required to file their jobs with the county's One-Stop Employment Center
  • A Business Incentive Rate application, to determine potential for reduced utility rates, may be filed by an organization within 30 days of inducement by the agency or receipt of benefits from Empire State Development

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