Get -- Use This Form To Claim An Investment Tax Credit For Qualified Property Used In The Ordinary

Filling out the investment tax credit form online can seem daunting, but with a clear understanding of each section, you can complete it confidently. This guide provides detailed instructions to ensure you fill out the form correctly and claim your entitled tax credits.

Follow the steps to successfully complete your investment tax credit claim.

1. Click ‘Get Form’ button to access the form and open it for editing.
2. Enter your name(s) as shown on your tax return in the designated field.
3. Input your identifying number as presented on your tax return. This will typically be your Social Security Number or Employer Identification Number.
4. Indicate the type of business you operate to provide context for your claim.
5. Check the appropriate box under 'Return filed' to specify which tax return you are submitting alongside this form.
6. Provide the date you started your business in New York State for verification purposes.
7. List the location of the qualified property. If applicable, attach a schedule with additional locations.
8. Answer whether you have previously claimed the new business investment tax credit refund, selecting 'Yes' or 'No'.
9. Move to Part I and begin filling out the eligibility requirement section, providing the number of administrative and support employees in New York State for the specified dates.
10. Perform calculations as directed in Part I to determine your eligibility percentage. If the final percentage is 95% or higher, you may continue to Part II.
11. In Part II, compute your investment tax credit using the specific fields provided, ensuring to include all necessary calculations for amounts and shares.
12. Make sure to fill out any sections in Parts III, IV, and V if applicable, particularly focusing on any add backs of credit or dispositions.
13. Review all entries for accuracy. Once satisfied, proceed to save any changes made to the form.
14. Download, print, or share the completed form as required for your submission to the Tax Department.

Start completing your investment tax credit form online today to ensure you receive the benefits you deserve.