Instructions for Form IT-611 Claim for Brownfield Redevelopment Tax Credit for Qualified Sites Accepted Into the Brownfield Cleanup Program Prior to June 23, 2008 - New York

Form IT-611 Claim for Brownfield Redevelopment Tax Credit - for Qualified Sites Accepted Into the Brownfield Cleanup Program Prior to June 23, 2008 - New York

This document contains official instructions for Form IT-611 , Claim for Brownfield Cleanup Program Prior to June 23, 2008 - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-611 is available for download through this link.

FAQ

Q: What is Form IT-611?
A: Form IT-611 is a claim form for the Brownfield Redevelopment Tax Credit for Qualified Sites.

Q: What is the Brownfield Cleanup Program?
A: The Brownfield Cleanup Program is a program in New York that incentivizes the cleanup and redevelopment of contaminated properties.

Q: What is the deadline for submitting Form IT-611?
A: The deadline for submitting Form IT-611 depends on the year in which the qualified site was accepted into the Brownfield Cleanup Program.

Q: What is the Brownfield Redevelopment Tax Credit?
A: The Brownfield Redevelopment Tax Credit is a tax credit available to individuals and businesses that rehabilitate and develop contaminated properties in New York.

Q: What is a qualified site?
A: A qualified site is a contaminated property that has been accepted into the Brownfield Cleanup Program prior to June 23, 2008.

Q: Who is eligible to claim the Brownfield Redevelopment Tax Credit?
A: Individuals and businesses that rehabilitate and develop qualified sites in New York are eligible to claim the Brownfield Redevelopment Tax Credit.

Q: How much is the Brownfield Redevelopment Tax Credit?
A: The amount of the Brownfield Redevelopment Tax Credit varies depending on the type of property and the amount of qualified expenditures incurred.

Q: What are qualified expenditures?
A: Qualified expenditures are costs incurred in the cleanup and redevelopment of a qualified site, including remediation costs and certain development costs.

Q: What supporting documentation needs to be included with Form IT-611?
A: Form IT-611 requires supporting documentation such as documentation of eligible expenses, proof of completion of the cleanup, and proof of acceptance into the Brownfield Cleanup Program.