PDF
Word
This version of the form is not currently in use and is provided for reference only. Download this version of
Instructions for Form IT-648
for the current year.
Instructions for Form IT-648 Life Sciences Research and Development Tax Credit - New York
This document contains official instructions for Form IT-648 , Life Sciences Research and Development Tax Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-648 is available for download through this link.
FAQ
Q: What is Form IT-648?
A: Form IT-648 is a tax form used in New York to claim the Life Sciences Research and Development Tax Credit.
Q: What is the Life Sciences Research and Development Tax Credit?
A: The Life Sciences Research and Development Tax Credit is a tax credit available to qualified taxpayers who conduct qualified life sciences research and development activities in New York.
Q: Who is eligible to claim the Life Sciences Research and Development Tax Credit?
A: Qualified taxpayers who conduct qualified life sciences research and development activities in New York are eligible to claim the tax credit.
Q: What activities qualify for the Life Sciences Research and Development Tax Credit?
A: Qualified research and development activities related to life sciences, such as scientific experimentation, testing, and analysis, may qualify for the tax credit.
Q: How do I claim the Life Sciences Research and Development Tax Credit?
A: To claim the tax credit, you need to complete and file Form IT-648 with the New York State Department of Taxation and Finance.
Q: What documentation do I need to provide to claim the tax credit?
A: You may be required to provide supporting documentation, such as records of eligible expenses, to substantiate your claim for the tax credit.
Q: Is there a deadline to file Form IT-648?
A: Yes, Form IT-648 must be filed by the due date of your New York State tax return for the year in which the credit is being claimed.
Q: Can I claim the Life Sciences Research and Development Tax Credit if I conducted research outside of New York?
A: No, the tax credit is only available for qualified research and development activities conducted in New York.
Q: Is the Life Sciences Research and Development Tax Credit refundable?
A: No, the tax credit is non-refundable. However, any unused credits can be carried forward for up to 15 years.
Instruction Details:
- This 2-page document is available for download in PDF;
- Might not be applicable for the current year. Choose a more recent version;
- Complete, printable, and free.
Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of forms released by the New York State Department of Taxation and Finance.
Download Instructions for Form IT-648 Life Sciences Research and Development Tax Credit - New York
1
2
