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Instructions for Form IT-640
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Instructions for Form IT-640 Start-Up Ny Telecommunication Services Excise Tax Credit - New York
This document contains official instructions for Form IT-640 , Start-Up Ny Telecommunication Services Excise Tax Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-640 is available for download through this link.
FAQ
Q: What is Form IT-640?
A: Form IT-640 is a tax form used in New York for claiming the Start-Up NY Telecommunication Services Excise Tax Credit.
Q: What is the Start-Up NY Telecommunication Services Excise Tax Credit?
A: The Start-Up NY Telecommunication Services Excise Tax Credit is a credit available to eligible businesses in New York that provide certain telecommunication services.
Q: Who is eligible to claim the Start-Up NY Telecommunication Services Excise Tax Credit?
A: Eligible businesses in New York that have been approved to participate in the Start-Up NY program and provide certain telecommunication services may claim the credit.
Q: How do I claim the Start-Up NY Telecommunication Services Excise Tax Credit?
A: To claim the credit, you need to complete and file Form IT-640 with the New York State Department of Taxation and Finance.
Q: Are there any documentation requirements for claiming the credit?
A: Yes, you must provide supporting documentation with your Form IT-640, including proof of participation in the Start-Up NY program and evidence of the eligible telecommunication services provided.
Q: Is there a deadline for filing Form IT-640?
A: Yes, Form IT-640 must be filed on or before the fifteenth day of the fourth month following the close of the tax year.
Q: What happens if I am eligible for a refund of the credit?
A: If you are eligible for a refund of the Start-Up NY Telecommunication Services Excise Tax Credit, you will receive the refund as a payable tax credit.
Q: Can I carry forward any unused credit?
A: Yes, any unused credit can be carried forward for up to three years.
Instruction Details:
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