Instructions for Form IT-604 Claim for Qeze Tax Reduction Credit - New York

Form IT-604 Claim for Qeze Tax Reduction Credit - New York

This document contains official instructions for Form IT-604 , Claim for Qeze Tax Reduction Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-604 is available for download through this link.

FAQ

Q: What is Form IT-604?
A: Form IT-604 is a form used to claim the QEZ Tax Reduction Credit in New York.

Q: What is the QEZ Tax Reduction Credit?
A: The QEZ Tax Reduction Credit is a tax credit available to businesses that operate within a Qualified Empire Zone (QEZ) in New York.

Q: Who is eligible to claim the QEZ Tax Reduction Credit?
A: Businesses that are certified by the New York State Department of Economic Development as being located within a QEZ are eligible to claim the tax credit.

Q: What types of businesses can claim the QEZ Tax Reduction Credit?
A: Various types of businesses, including manufacturing, warehousing, and research and development, can claim the tax credit if they meet the eligibility requirements.

Q: What expenses qualify for the QEZ Tax Reduction Credit?
A: Expenses related to property, payroll, and purchases within the QEZ may qualify for the tax credit.

Q: How do I file Form IT-604?
A: You should complete the form, attach any required documentation, and submit it to the New York State Department of Taxation and Finance.

Q: When is the deadline to file Form IT-604?
A: The deadline to file Form IT-604 is the same as the deadline for filing your New York State tax return, which is typically April 15th.

Q: Can I e-file Form IT-604?
A: Yes, you can e-file Form IT-604 if you are also e-filing your New York State tax return.

Q: Is there a fee to claim the QEZ Tax Reduction Credit?
A: There is no fee to claim the tax credit, but you must meet all the eligibility requirements and provide supporting documentation.