PDF
Word
This version of the form is not currently in use and is provided for reference only. Download this version of
Form IT-638
for the current year.
Form IT-638 Start-Up Ny Tax Elimination Credit - New York
What Is Form IT-638?
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-638?
A: Form IT-638 is a tax form used in New York to claim the Start-Up NY Tax Elimination Credit.
Q: What is the Start-Up NY Tax Elimination Credit?
A: The Start-Up NY Tax Elimination Credit is a tax credit available to businesses participating in the Start-Up NY program in New York.
Q: Who is eligible to claim the Start-Up NY Tax Elimination Credit?
A: Businesses that are approved participants in the Start-Up NY program are eligible to claim the tax credit.
Q: What is the purpose of the Start-Up NY program?
A: The Start-Up NY program is designed to promote economic development and job creation in New York by attracting new businesses to the state.
Q: How do I claim the Start-Up NY Tax Elimination Credit?
A: To claim the tax credit, you need to file Form IT-638 with the New York State Department of Taxation and Finance.
Q: What expenses can be included in the Start-Up NY Tax Elimination Credit?
A: The tax credit can be claimed for qualified expenses, which include real property taxes, sales and use taxes, and certain employee wages.
Q: Is there a limit to the amount of the Start-Up NY Tax Elimination Credit?
A: Yes, there is a maximum annual credit amount that can be claimed, which is determined by the number of net new jobs created by the business.
Q: Are there any other requirements to claim the Start-Up NY Tax Elimination Credit?
A: Yes, businesses must meet certain criteria, such as maintaining a physical presence in a tax-free NY area and being in an approved industry sector, among others.
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-638 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-638 Start-Up Ny Tax Elimination Credit - New York
1
2
3
