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Exam term

Long-term care tax credit

A New York credit equal to 20 percent of premiums paid in the year for long-term care insurance that qualifies under Insurance Law 1117. A business cannot reduce its tax below the minimum tax with it, and unused credit carries forward.

Lessons that use this term

  • New York State Partnership for Long-Term Care, Medicaid estate recovery, and the New York LTC tax credit (Reg 144) New York

Exam prep

  • Insurance
  • Real Estate
  • SAFE MLO
  • SIE

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