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This version of the form is not currently in use and is provided for reference only. Download this version of
Instructions for Form IT-649
for the current year.
Instructions for Form IT-649 Farm Donations to Food Pantries Credit - New York
This document contains official instructions for Form IT-649 , Farm Donations to Food Pantries Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-649 is available for download through this link.
FAQ
Q: What is Form IT-649?
A: Form IT-649 is a tax form in New York.
Q: What is the purpose of Form IT-649?
A: Form IT-649 is used to claim the Farm Donations to Food Pantries Credit in New York.
Q: Who is eligible to claim the Farm Donations to Food Pantries Credit?
A: Farmers in New York who donate qualified agricultural products to eligible food pantries are eligible to claim this credit.
Q: What is a qualified agricultural product?
A: A qualified agricultural product refers to food and beverages that are grown, produced, or processed in New York State.
Q: How much is the Farm Donations to Food Pantries Credit?
A: The credit is equal to 25% of the fair market value of the qualified agricultural products donated.
Q: Are there any limitations to the credit?
A: Yes, the credit is limited to $5,000 per taxpayer per year.
Q: What documentation is required to claim the credit?
A: Taxpayers must maintain records that substantiate the qualified agricultural products donated, including receipts, invoices, and other supporting documentation.
Instruction Details:
- This 5-page document is available for download in PDF;
- Might not be applicable for the current year. Choose a more recent version;
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