Get It-604 New York State Department Of Taxation And Finance Claim For Qeze Credit For Real Property

Filing the IT-604 form allows you to claim the Qualified Empire Zone Enterprise (QEZE) credit for real property taxes. This guide provides a clear step-by-step process for completing the form online, ensuring that users can navigate through each section effectively.

Follow the steps to complete the IT-604 form online.

1. Click ‘Get Form’ button to obtain the IT-604 form and open it in your editor.
2. Begin by indicating whether you are a 2002 calendar-year filer by checking the appropriate box. If you are an other filer, enter the tax period including the beginning and ending dates.
3. Provide your name as shown on your tax return, along with the taxpayer identification number(s) that are listed on the first page of your return.
4. Enter the employer identification number of the QEZE business and name the empire zone (EZ) along with the QEZE business name.
5. Indicate the date of first certification by the Empire State Development and attach a copy of your certificate of eligibility.
6. Complete Schedule A by computing the average number of full-time employees within all empire zones (EZs) for the current tax year and the five-year base period. Include all employees in applicable EZs.
7. Proceed to answer the questions in Schedule A stating whether the number of employees in the current tax year meets the required thresholds.
8. Complete Part 2 for the computation of full-time employees working inside New York State and outside all EZs, ensuring that all values are accurately filled according to instructions.
9. Fill out Schedule B, which focuses on the average number of full-time employees in the EZs during the current tax year.
10. Calculate the employment increase factor in Schedule C based on the values derived from previous schedules.
11. Continue to complete Schedule D, noting the zone allocation factors, including the average value of property and wages.
12. Proceed with Schedule E to determine the tax factor by inputting values from your relevant tax forms.
13. Complete Schedule F, focusing on the computation of QEZE credit for real property taxes and ensuring all figures are captured correctly.
14. Finalize with Schedule G, which calculates QEZE tax reduction credit, and cross-reference values required from previous schedules.
15. Review all entries for accuracy. You can now save the form, download, print, or share it as necessary.

Complete your IT-604 form online today for a smooth and successful filing experience.