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Instructions for Form IT-633
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Instructions for Form IT-633 Economic Transformation and Facility Redevelopment Program Tax Credit - New York
This document contains official instructions for Form IT-633 , Economic Transformation and Facility Redevelopment Program Tax Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-633 is available for download through this link.
FAQ
Q: What is Form IT-633?
A: Form IT-633 is a tax form used in New York to claim the Economic Transformation and Facility Redevelopment Program Tax Credit.
Q: What is the Economic Transformation and Facility Redevelopment Program Tax Credit?
A: The Economic Transformation and Facility Redevelopment Program Tax Credit is a tax incentive program in New York that encourages investment in economically distressed areas.
Q: What is the purpose of Form IT-633?
A: The purpose of Form IT-633 is to claim the tax credit for eligible costs incurred in the redevelopment of a facility.
Q: Who is eligible to claim the tax credit?
A: Businesses and corporations that have incurred eligible costs for facility redevelopment in designated areas in New York may be eligible to claim the tax credit.
Q: What are eligible costs?
A: Eligible costs include expenses related to the acquisition, construction, renovation, and equipping of a facility.
Q: How much tax credit can be claimed?
A: The tax credit can range from 10% to 100% of eligible costs, depending on the location and size of the facility.
Q: Are there any application requirements?
A: Yes, there are specific application requirements that must be met in order to claim the tax credit. These requirements include obtaining a certification from the New York State Department of Economic Development.
Q: When is the deadline to file Form IT-633?
A: The deadline to file Form IT-633 is typically April 15th of the year following the tax year in which the eligible costs were incurred.
Instruction Details:
- This 5-page document is available for download in PDF;
- Actual and applicable for this year;
- Complete, printable, and free.
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Download Instructions for Form IT-633 Economic Transformation and Facility Redevelopment Program Tax Credit - New York
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