Instructions for Form IT-635 New York Youth Jobs Program Tax Credit - New York

Form IT-635 New York Youth Jobs Program Tax Credit - New York

This document contains official instructions for Form IT-635 , New York Youth Jobs Program Tax Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-635 is available for download through this link.

FAQ

Q: What is Form IT-635?
A: Form IT-635 is a tax form used for claiming the New York Youth Jobs Program Tax Credit.

Q: Who is eligible to claim the New York Youth Jobs Program Tax Credit?
A: Employers in New York State who hire eligible youth participants for qualified jobs are eligible to claim this tax credit.

Q: What is the purpose of the New York Youth Jobs Program Tax Credit?
A: The purpose of this tax credit is to encourage employers to hire youth participants and provide them with job opportunities.

Q: How much is the New York Youth Jobs Program Tax Credit?
A: The tax credit is equal to 25% of the eligible wages paid to youth participants.

Q: What are the requirements for qualified jobs under the New York Youth Jobs Program?
A: Qualified jobs must be full-time employment lasting at least six months, paying at least the minimum wage, and providing the employee with at least 35 hours of work per week.

Q: How do employers claim the New York Youth Jobs Program Tax Credit?
A: Employers must complete and submit Form IT-635 along with their annual tax return.

Q: What documentation is required to claim the New York Youth Jobs Program Tax Credit?
A: Employers must maintain records detailing the names, ages, Social Security numbers, and other required information for each youth participant hired.

Q: Is there a deadline for claiming the New York Youth Jobs Program Tax Credit?
A: Yes, employers must claim the tax credit on their annual tax return for the tax year in which the qualified wages were paid.