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Instructions for Form IT-645
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Instructions for Form IT-645 Recapture of Start-Up Ny Tax Benefits - New York
This document contains official instructions for Form IT-645 , Recapture of Start-Up Ny Tax Benefits - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-645 is available for download through this link.
FAQ
Q: What is Form IT-645?
A: Form IT-645 is a tax form used in the state of New York to recapture start-up NY tax benefits.
Q: What are start-up NY tax benefits?
A: Start-up NY tax benefits are incentives provided to businesses that locate or expand in designated tax-free areas within New York State.
Q: Who needs to file Form IT-645?
A: Any business that received start-up NY tax benefits and is required to recapture those benefits must file Form IT-645.
Q: What information is needed to complete Form IT-645?
A: You will need the following information to complete the form: business name, taxpayer identification number, recaptured tax benefits amount, and the tax year for which the recapture is being claimed.
Q: When is Form IT-645 due?
A: Form IT-645 is generally due on the same date as your New York State business tax return.
Q: Are there any penalties for not filing Form IT-645?
A: Yes, failure to file Form IT-645 may result in penalties imposed by the New York State Department of Taxation and Finance.
Q: Is there any fee associated with filing Form IT-645?
A: No, there is no fee for filing Form IT-645.
Q: Can I claim a refund if I overpaid the recaptured tax benefits?
A: Yes, you can claim a refund for any overpayment of recaptured tax benefits on Form IT-645.
Instruction Details:
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