New York Claim for Remediated Brownfield Credit for Real Property Taxes

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