Get Ny It-261 2022-2025

The NY IT-261 is a form used to claim the Empire State film post-production credit. This guide provides clear, step-by-step instructions on how to accurately fill out the form online, making the process easier for individuals and entities eligible for this credit.

Follow the steps to successfully complete the NY IT-261

1. Click 'Get Form' button to obtain the NY IT-261 and open it in the editor.
2. In the first section, enter the name(s) as shown on your tax return along with your taxpayer identification number.
3. Proceed to Part 1 – Computation of credit. Here, you will calculate the Empire State film post-production credit by following the instructions provided.
4. Line 1 requires you to submit a copy of the certificate of tax credit from the Governor’s Office of Motion Picture & Television Development. Ensure this document is ready to be attached, if necessary.
5. Continue to fill in lines 2 through 7. Calculate and input the amounts from your 2023 tax year available credit, partner or shareholder shares, and any credits from prior years as indicated in the instructions.
6. In Part 2, provide information about your partnership, S corporation, or estate and trust. Complete each field, including entity name, type, employer identification number, and current year credit shares.
7. Part 3 focuses on the beneficiary’s and fiduciary’s share of the Empire State film post-production credit. Fill in the beneficiary’s name, identifying number, and their share of the current year's credit.
8. In Part 4, indicate the amount of credit to be claimed in succeeding tax years for 2024 and 2025, following the provided instructions.
9. After all sections are completed, review the form for accuracy and completeness. You can then save changes, download, print, or share the completed form as needed.

Complete your NY IT-261 form online today to ensure timely submission for your post-production credit.