§ 190. Long-term care insurance credit. 1. General. A taxpayer shall
be allowed a credit against the tax imposed by this article equal to
twenty percent of the premium paid during the taxable year for long-term
care insurance. In order to qualify for such credit, the taxpayer's
premium payment must be for the purchase of or for continuing coverage
under a long-term care insurance policy that qualifies for such credit
pursuant to section one thousand one hundred seventeen of the insurance
law.

2. Computation. The credit allowed by this section shall first be
deducted from the taxes imposed by section one hundred eighty-three or
former section one hundred eighty-six of this article. The amount of any
such credit remaining shall next be deducted from the taxes imposed by
section one hundred eighty-four of this article.

3. Carryover. In no event shall the amount of credit allowed under
this section reduce the tax payable to less than the minimum tax fixed
by section one hundred eighty-three or former section one hundred
eighty-six of this article. If, however, the amount of credit allowable
under this section for any taxable year reduces the tax to such amount,
any amount of credit not deductible in such taxable year may be carried
over to the following year or years and may be deducted from the
taxpayer's tax for such year or years.