Instructions for Form IT-611.1 Claim for Brownfield Redevelopment Tax Credit for Qualified Sites Accepted Into the Brownfield Cleanup Program on or After June 23, 2008, and Prior to July 1, 2015 - New York

Form IT-611.1 Claim for Brownfield Redevelopment Tax Credit for Qualified Sites Accepted Into the Brownfield Cleanup Program on or After June 23, 2008, and Prior to July 1, 2015 - New York

This document contains official instructions for Form IT-611.1 , Claim for Brownfield Cleanup Program on or After June 23, 2008, and Prior to July 1, 2015 - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-611.1 is available for download through this link.

FAQ

Q: What is Form IT-611.1?
A: Form IT-611.1 is a claim form for the Brownfield Redevelopment Tax Credit for qualified sites accepted into the Brownfield Cleanup Program.

Q: Who can use Form IT-611.1?
A: Property owners who have qualified sites accepted into the Brownfield Cleanup Program on or after June 23, 2008, and prior to July 1, 2015, can use Form IT-611.1 to claim the Brownfield Redevelopment Tax Credit.

Q: What is the Brownfield Redevelopment Tax Credit?
A: The Brownfield Redevelopment Tax Credit is a tax credit provided to property owners who clean up and redevelop contaminated sites in New York.

Q: When can I use Form IT-611.1?
A: You can use Form IT-611.1 if your qualified site was accepted into the Brownfield Cleanup Program on or after June 23, 2008, and prior to July 1, 2015.

Q: What information do I need to include on Form IT-611.1?
A: You will need to provide information about your qualified site, including the address, tax map parcel number, and the start and completion dates of the remediation work.

Q: How much is the Brownfield Redevelopment Tax Credit?
A: The amount of the tax credit depends on various factors, including the amount of eligible costs incurred for the cleanup and the location of the site.

Q: When is the deadline for filing Form IT-611.1?
A: The deadline for filing Form IT-611.1 is generally three years from the due date of the original tax return for the year in which the credit is claimed.

Q: Can I claim the Brownfield Redevelopment Tax Credit multiple times?
A: No, the Brownfield Redevelopment Tax Credit can only be claimed once for each qualified site.

Q: Are there any restrictions or limitations on the Brownfield Redevelopment Tax Credit?
A: Yes, there are certain restrictions and limitations on the Brownfield Redevelopment Tax Credit, including a cap on the total amount of credits that can be awarded each year.