Get Ny It-633 2022-2025

The NY IT-633 form is essential for claiming tax credits under the Economic Transformation and Facility Redevelopment Program in New York. This guide provides clear, step-by-step instructions to help you fill out the form accurately and efficiently.

Follow the steps to complete your NY IT-633 form online.

1. Click 'Get Form' button to obtain the form and open it in the editor.
2. Indicate whether you are a calendar-year filer by marking an X in the box. If you are not a calendar-year filer, enter the tax period's starting and ending dates.
3. Provide your name(s) as shown on your return and enter your taxpayer identification number.
4. Mark an X in the box corresponding to the tax year of the benefit period for which you are claiming the credit.
5. If applicable, mark the box confirming that you are claiming this credit as a partner in a partnership, shareholder of a New York S corporation, or beneficiary of an estate or trust.
6. Proceed to Schedule A—Eligibility. Here, answer questions 1a and 1b to determine if your business qualifies. If you answered yes to either question, continue to Part 2.
7. In Part 2, compute your average number of net new jobs. Fill in the number of net new jobs for each quarter and calculate the total.
8. Indicate whether the average number of net new jobs is five or greater. If yes, complete Schedule B; if no, you do not qualify for this credit.
9. Complete Schedule B by providing details for each net new job created and maintained in the economic transformation area. Calculate the total jobs tax credit using the credit amount formula.
10. Continue filling out portions for investment tax credit component, training tax credit component, and real property tax credit component as applicable, entering all required details.
11. Review your entries and ensure all calculations are correct. Total each section as required.
12. Once all sections are complete, save your changes, download the form, and prepare to print or share as needed.

Complete your NY IT-633 form online today to ensure you receive the tax credits you deserve.