PDF
Word
This version of the form is not currently in use and is provided for reference only. Download this version of
Form IT-637
for the current year.
Form IT-637 Alternative Fuels and Electric Vehicle Recharging Property Credit - New York
What Is Form IT-637?
This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form IT-637?
A: Form IT-637 is a tax form used to claim the Alternative Fuels and Electric Vehicle Recharging Property Credit in New York.
Q: What is the Alternative Fuels and Electric Vehicle Recharging Property Credit?
A: The Alternative Fuels and Electric Vehicle Recharging Property Credit is a tax credit offered in New York to individuals or businesses that install qualified alternative fuel vehicle refueling property or electric vehicle recharging property.
Q: Who can claim the credit?
A: Both individuals and businesses can claim the Alternative Fuels and Electric Vehicle Recharging Property Credit in New York.
Q: What types of properties qualify for the credit?
A: Qualified alternative fuel vehicle refueling property and electric vehicle recharging property qualify for the credit. These include equipment and infrastructure used to refuel or recharge alternative fuel vehicles or electric vehicles, such as charging stations or fueling stations.
Q: What is the credit amount?
A: The credit amount varies depending on the type of property and the amount invested. The maximum credit is $5,000 for each property or charging station.
Q: How do I claim the credit?
A: To claim the credit, you need to complete and file Form IT-637 with the New York State Department of Taxation and Finance.
Q: Is the credit refundable?
A: No, the Alternative Fuels and Electric Vehicle Recharging Property Credit is not refundable. However, any excess credit can be carried forward for up to five years.
Q: Are there any limitations or restrictions for claiming the credit?
A: Yes, there are some limitations and restrictions, such as a maximum credit amount per property or charging station and a cap on the total amount of credits that can be issued in a single year.
Q: Are there any deadlines for filing Form IT-637?
A: Yes, the form must be filed within one year from the date the property is placed in service.
Form Details:
- The latest edition provided by the New York State Department of Taxation and Finance;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form IT-637 by clicking the link below or browse more documents and templates provided by the New York State Department of Taxation and Finance.
Download Form IT-637 Alternative Fuels and Electric Vehicle Recharging Property Credit - New York
1
2
