Get Ny Dtf It-602 2022-2025

The NY DTF IT-602 form is essential for claiming the EZ Capital Tax Credit in New York. This guide will provide you with clear, step-by-step instructions to assist you in successfully completing the form online.

Follow the steps to complete the NY DTF IT-602 form online.

1. Click the ‘Get Form’ button to access the form and open it in your preferred online editor.
2. Input your name(s) as they appear on your tax return in the designated field.
3. Enter your identifying number as shown on your return.
4. Proceed to Schedule A and calculate your tax from Forms IT-201, IT-203, or IT-205, entering the amount on line 1.
5. Multiply the amount from line 1 by 50% (0.50) and enter this figure on line 2.
6. In Schedule B, input the carryover credit from last year’s Form IT-602 on line 3.
7. Determine the EZ capital tax credit available for the current year. Enter the lesser amount from line 2 or line 3 on line 4.
8. Enter the tax due before credits on line 5, referencing appropriate tax return forms.
9. Input any tax credits claimed before this credit on line 6.
10. Calculate the net tax by subtracting the value on line 6 from line 5 and enter the result on line 7.
11. On line 8, enter the lesser amount between line 4 or line 7, representing the credit used for the current tax year.
12. Finally, calculate the amount available for carryover to next year by subtracting line 8 from line 3 and enter it on line 9.
13. Once all fields are completed, be sure to save your changes. You can then download, print, or share the form as needed.

Ready to proceed? Complete your documents online today.