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New York Free Printable Form IT-612 Claim for Remediated Brownfield Credit for Real Property Taxes Tax Year 2023 for 2024 New York Claim for Remediated Brownfield Credit for Real Property Taxes

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Claim for Remediated Brownfield Credit for Real Property Taxes
Form IT-612 Claim for Remediated Brownfield Credit for Real Property Taxes Tax Year 2023

IT-612 Department of Taxation and Finance Claim for Remediated Brownfield Credit for Real Property Taxes For Qualified Sites Accepted into the Brownfield Cleanup Program Prior to July 1, 2015 Tax Law – Sections 22 and 606(ee) File a separate Form IT-612 for each Certificate of Completion (COC) with your personal income tax return, Form IT-201, IT-203, IT-204, or IT-205. Name(s) as shown on return Calendar-year filers, mark an X in the box: Other filers enter tax period: beginning and ending Identifying number as shown on return Schedule A – Brownfield site identifying information (see instructions, Form IT-612-I, for assistance) A Enter the date of execution of the Brownfield Cleanup Agreement (BCA) for the brownfield site   for which you are claiming the credit (mmddyyyy) ................................................................................. A B Enter the following information as listed on the COC issued by the Department of Environmental   Conservation (DEC) for the qualified site. Submit a copy of the COC. Site name Site location Municipality County Division of Environmental Remediation (DER) site number Date COC was issued DEC region C If applicable, enter the date the COC was transferred pursuant to the transfer or sale of the   qualified site. Submit a copy of the sale or transfer documentation with this form ............................. C D Is the qualified site for which the COC was issued by the DEC located entirely within   an environmental zone (EN-Zone)? ..................................................................................................... D E Mark an X in the box if you received notification from the Department of State that the     qualified site is located in a Brownfield Opportunity Area .................................................................... E Yes No Schedule B – Computation of average number of full-time employees employed by a developer and any lessees at the qualified site Current tax year March 31 June 30 September 30 December 31 Total Number of full-time employees 1 Average number of full-time employees (if less than 25, no credit is allowed; see instructions) ................... 1 Employment number factor table Average number of full-time employees shown on line 1 Factor At least 25, but less than 50............................................................... .25 At least 50, but less than 75............................................................... .50 At least 75, but less than 100............................................................. .75 At least 100........................................................................................ 1.00 Schedule C – Individuals (including sole proprietors), partnerships, and fiduciaries 2 Employment number factor (see instructions) ................................................................................ 2 3 Eligible real property taxes (see instructions).................................................................................. 3 4 Enter .25 (if the qualified site is located entirely within an EN-Zone, enter 1.00).....................................  4 5 Remediated brownfield credit for real property taxes (multiply line 2 x line 3 x line 4) ..................... 5 6 Recapture of remediated brownfield credit for real property taxes (see instructions) .................... 6 7 Net recapture of remediated brownfield credit for real property taxes (see instructions)................ 7 8 Remediated brownfield credit for real property taxes after recapture (subtract line 6 from line 5;   continue with line 9)...................................................................................................................... 8 9 Credit limitation. Multiply line 1 by $10,000 and enter the result ................................................. 9 10 Remediated brownfield credit for real property taxes claimed (enter the lesser of line 8 or line 9) .... 10 Individuals and partnerships: Enter the line 10 amount on line 15. Fiduciaries: Include the line 10 amount on the Total line of Schedule F, column C. 172001230094 .00 .00 .00 .00 .00 .00 .00 IT-612 (2023) (back) Schedule D – Partnership, S corporation, estate, and trust information (see instructions) If you were a partner in a partnership, a shareholder of a New York S corporation, or a beneficiary of an estate or trust and received a share of the remediated brownfield credit for real property taxes from that entity, complete the following information for each partnership, New York S corporation, estate, or trust. For Type, enter P for partnership, S for S corporation, or ET for estate or trust. Name Type Employer ID number Schedule E – Partner’s, shareholder’s, or beneficiary’s share of credit (see instructions) Partner S corporation shareholder Beneficiary 11 Enter your share of the credit from your partnership ....................................... 11 .00 12 Enter your share of the credit from your S corporation  ................................... 12 13 Enter your share of the credit from the estate or trust ....................................... 13 14 Total (add lines 11, 12, and 13) ........................................................................... 14 .00 .00 .00 Fiduciaries: Include the line 14 amount in the Total line of Schedule F, column C. All others: Enter the line 14 amount on line 16. Schedule F – Beneficiary’s and fiduciary’s share of credit and recapture of credit (see instructions) A Beneficiary’s name B Identifying number (same as on Form IT-205, Schedule C) C Share of remediated brownfield credit for real property taxes Total (for column C, enter the line 10 amount plus the line 14 amount) Fiduciary D Share of recapture of credit .00 .00 .00 .00 .00 .00 .00 .00 Schedule G – Computation of credit (see instructions) Individuals and partnerships Partners, S corporation shareholders, beneficiaries Fiduciaries 15 Enter the amount from line 10 .................................................. 15 .00 16 Enter the amount from line 14 .................................................. 16 17 Enter the amount from Schedule F, column C, Fiduciary line... 17 18 Total credit (see instructions) ..................................................... 18 .00 .00 .00 Schedule H – Summary of recapture credit (see instructions) 19 20 21 22 23 24 Individual’s and partnership’s recapture of credit (see instructions)................................................. Beneficiary’s share of recapture of credit (see instructions) ............................................................ Partner’s share of recapture of credit (see instructions) .................................................................. S corporation shareholder’s share of recapture of credit (see instructions) .................................... Fiduciaries: enter your share of amount from Schedule F, column D, Fiduciary line ................... Total (see instructions) .................................................................................................................... Individuals: Enter the line 24 amount and code 172 on Form IT-201-ATT, line 20, or Form IT-203-ATT, line 19. Fiduciaries: Include the line 24 amount on Form IT-205, line 12. Partnerships: Enter the line 24 amount and code 172 on Form IT-204, line 148. 172002230094 19 20 21 22 23 24 .00 .00 .00 .00 .00 .00
Extracted from PDF file 2023-new-york-form-it-612.pdf, last modified October 2006

More about the New York Form IT-612 Individual Income Tax Tax Credit TY 2023

We last updated the Claim for Remediated Brownfield Credit for Real Property Taxes in January 2024, so this is the latest version of Form IT-612, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IT-612 directly from TaxFormFinder. You can print other New York tax forms here.

Other New York Individual Income Tax Forms:

TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IT-201 Individual Income Tax Return
IT-201-V Payment Voucher for Income Tax Returns
Form IT-201-D Resident Itemized Deduction Schedule (DISCONTINUED)
Form IT-203 Nonresident Income Tax Return
Form IT-201-I Individual Income Tax Return Instructions

Download all NY tax forms View all 272 New York Income Tax Forms


Form Sources:

New York usually releases forms for the current tax year between January and April. We last updated New York Form IT-612 from the Department of Taxation and Finance in January 2024.

Show Sources >

Form IT-612 is a New York Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of New York Form IT-612

We have a total of twelve past-year versions of Form IT-612 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form IT-612

Form IT-612 Claim for Remediated Brownfield Credit for Real Property Taxes Tax Year 2023

2022 Form IT-612

Form IT-612 Claim for Remediated Brownfield Credit for Real Property Taxes Tax Year 2021

2021 Form IT-612

Form IT-612 Claim for Remediated Brownfield Credit for Real Property Taxes Tax Year 2021

2020 Form IT-612

Form IT-612 Claim for Remediated Brownfield Credit for Real Property Taxes Tax Year 2020

2019 Form IT-612

Form IT-612:2019:Claim for Remediated Brownfield Credit for Real Property Taxes:it612

2018 Form IT-612

Form IT-612:2018:Claim for Remediated Brownfield Credit for Real Property Taxes:it612

2017 Form IT-612

Form IT-612:2017:Claim for Remediated Brownfield Credit for Real Property Taxes For Qualified Sites Accepted into the Borwnfield Cleanup Program Prior

2016 Form IT-612

Form IT-612:2016:Claim for Remediated Brownfield Credit for Real Property Taxes For Qualified Sites Accepted into the Borwnfield Cleanup Program Prior

2015 Form IT-612

Form IT-612:2015:Claim for Remediated Brownfield Credit for Real Property Taxes For Qualified Sites Accepted into the Brownfield Cleanup Program Prior

Claim for Remediated Brownfield Credit for Real Property Taxes 2014 Form IT-612

Form IT-612:2014:Claim for Remediated Brownfield Credit for Real Property Taxes:IT612

Claim for Remediated Brownfield Credit for Real Property Taxes 2013 Form IT-612

Form IT-612:2013:Claim for Remediated Brownfield Credit for Real Property Taxes:IT612

2012 Form IT-612

Form IT-612:2012:Claim for Remediated Brownfield Credit for Real Property Taxes:IT612


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