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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 the Form IT-638?
A: The Form IT-638 is the official 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 in New York that allows eligible businesses to eliminate state taxes for a specified period.
Q: Who is eligible for the Start-Up NY Tax Elimination Credit?
A: Eligible businesses must be approved and participating in the Start-Up NY program and meet certain criteria to qualify for the tax credit.
Q: How long does the Start-Up NY Tax Elimination Credit last?
A: The tax credit can be claimed for up to 10 years, depending on the specific terms of the agreement with the Start-Up NY program.
Q: How do I claim the Start-Up NY Tax Elimination Credit?
A: To claim the tax credit, businesses must complete and file Form IT-638 with the New York State Department of Taxation and Finance.
Q: Are there any limitations on the Start-Up NY Tax Elimination Credit?
A: Yes, there are certain limitations on the tax credit, such as limitations on the type of taxes that can be eliminated and the amount of credits that can be claimed in a given year.
Q: Is there a deadline for filing Form IT-638?
A: Yes, the form must be filed by the due date of the business's tax return for the applicable tax year.
Q: Can I amend my tax return to claim the Start-Up NY Tax Elimination Credit?
A: Yes, if you did not claim the tax credit on your original tax return, you can file an amended return using Form IT-638 to claim the credit.
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
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