Qualifying Financial Institutions
A qualifying institution is a bank, an insurer or a securities dealer that meets the following conditions:
- Its ITC amount, for each of the two preceding fiscal years, is $500,000 or greater.
- Its ITC rate, for each of the two preceding fiscal years, is:
- 12% or greater for banks,
- 10% or greater for insurers,
- 15% or greater for securities dealers.