Instructions for Form CT-645 Recapture of Start-Up Ny Tax Benefits - New York

Form CT-645 Recapture of Start-Up Ny Tax Benefits - New York

This document contains official instructions for Form CT-645 , Recapture of Start-Up Ny Tax Benefits - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form CT-645 is available for download through this link.

FAQ

Q: What is Form CT-645?
A: Form CT-645 is a tax form used in New York.

Q: What is the purpose of Form CT-645?
A: The purpose of Form CT-645 is to recapture any Start-Up NY tax benefits that were previously claimed.

Q: Who needs to file Form CT-645?
A: Any taxpayer who previously claimed Start-Up NY tax benefits and is required to recapture those benefits needs to file Form CT-645.

Q: What are Start-Up NY tax benefits?
A: Start-Up NY tax benefits are incentives provided by the state of New York to qualifying businesses.

Q: When is Form CT-645 due?
A: Form CT-645 is due on or before the due date of the taxpayer's New York state income tax return for the taxable year for which the recapture is required.

Q: Are there any penalties for not filing Form CT-645?
A: Yes, there are penalties for not filing Form CT-645 or for filing it late. It is important to comply with the filing requirements to avoid potential penalties.

Q: Is professional assistance required to complete Form CT-645?
A: While professional assistance is not required, it is recommended to consult with a tax professional or seek guidance from the New York State Department of Taxation and Finance if you have any questions or need help completing the form.

Q: Can Form CT-645 be amended?
A: Yes, Form CT-645 can be amended if there are any changes or corrections that need to be made. An amended form should be filed as soon as possible.