IT640Department of Taxation and FinanceSTARTUP NY Telecommunication Services Excise Tax Credit Tax Law Sections 39 and 606(yy)Calendaryear filers, mark an X in the box:All other filers enter tax.
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How to fill out the NY IT-640 online
The NY IT-640 form is used to claim the Start-Up NY telecommunication services excise tax credit. This guide will provide you with clear, step-by-step instructions to help you complete this form online, ensuring that you understand each component as you proceed.
Follow the steps to accurately complete the NY IT-640 form online.
- Click the ‘Get Form’ button to obtain the NY IT-640 form and access it in the online editor.
- First, indicate your filing status by marking an X in the box for calendar-year filers, or enter the tax period beginning and ending dates if you are filing for another period.
- In the section labeled 'Name(s) as shown on return', enter the name(s) as they appear on your tax return. Also, provide your identifying number as shown on the return.
- Complete line A by marking an X in the box that indicates whether you are claiming a credit as an individual (sole proprietor), partnership, or fiduciary of an estate or trust that earned the credit.
- If you answered 'Yes' to line A, proceed to complete lines B and C, as well as Schedules A and D. If you answered 'No', complete lines B and C and Schedules B and D instead.
- For line B, enter the certificate number from Form DTF-74 that was issued to your approved Start-Up NY business.
- For line C, indicate the year of your Start-Up NY business tax benefit period by entering a number from 1 to 10.
- Move to Schedule A and input the telecommunication services excise tax paid on line 1.
- If you are a fiduciary, include the amount from line 1 on line 3. All others should enter this amount on line 6.
- Continue to Schedule B and fill in the entity information for partnerships, New York S corporations, or estates and trusts as required.
- Ensure you sum all amounts in column F on line 2 of Schedule B and proceed to include them in your calculations.
- Complete Schedule C if you are a fiduciary, detailing the beneficiaries’ share of credit.
- Finally, in Schedule D, calculate the total credit by adding the amounts from lines 6, 7, and 8.
- Once all sections are completed, review your entries, then save your changes, download, print, or share the completed form as necessary.
Complete your IT-640 form online today for a smooth filing experience.
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