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New York New York City Musical and Theatrical Production Tax Credit
Extracted from PDF file 2023-new-york-it-654.pdf, last modified August 2021New York City Musical and Theatrical Production Tax Credit
IT-654 Department of Taxation and Finance New York City Musical and Theatrical Production Tax Credit Tax Law – Sections 24-c and 606(mmm) Submit this form with Form IT-201, IT-203, IT-204, or IT-205. Name(s) as shown on return Identifying number as shown on return All filers must complete lines A through E. A Are you claiming this credit as an individual (sole proprietor), partnership, or fiduciary of an estate or trust that earned the credit (not as a partner, shareholder, or beneficiary, receiving a share of the credit)? (mark an X in the appropriate box; see instructions) ............................................ Yes If Yes: Complete lines B through E, and Schedules A and D. Fiduciary, also complete Schedule C. No If No: Complete lines B through E, and Schedules B and D. Fiduciary, also complete Schedule C. Certificate information On lines B through E below, enter the information from the certificate of tax credit (see instructions). B Name of the business certified by Empire State Development (ESD) to participate in the New York City musical and theatrical production tax credit program .................. B C Certified business’s employer identification number (EIN) ......................................................... C D Completion date ......................................................................................................................... D E Certificate number ..................................................................................... E Schedule A – Individual (including sole proprietor), partnership, and estate or trust 1 New York City musical and theatrical production tax credit (see instructions)................................. Individuals and partnerships: Enter the line 1 amount on line 6. Fiduciaries: Include the line 1 amount on line 3. 654001230094 1 .00 Page 2 of 2 IT-654 (2023) Schedule B – Partner’s, shareholder’s, or beneficiary’s share of credit (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 credit from that entity, complete the following information for each partnership, New York S corporation, or estate or trust. For Type, enter P for partnership, S for S corporation, or ET for estate or trust. A Name of entity B Type C EIN D Certificate number E Share of credit .00 .00 .00 Total of column E amounts from additional Form(s) IT-654, if any............................................................. .00 2 Add column E amounts ................................................................................................................ 2 .00 Fiduciaries: Include the line 2 amount on line 3. All others: Enter the line 2 amount on line 7. Schedule C – Beneficiary’s and fiduciary’s share of credit (see instructions) 3 Total (fiduciaries: add line 1 and line 2) . ............................................................................................ 3 A Beneficiary’s name (same as on Form IT-205, Schedule C) .00 B Identifying number C Share of credit .00 .00 .00 Total of column C amounts from additional Form(s) IT-654, if any............................................................. .00 4 Share of credit allocated to beneficiaries (add column C amounts) ................................................. 4 .00 5 Fiduciary’s share of credit (subtract line 4 from line 3; enter the result here and on line 8) .................... 5 .00 Schedule D – Computation of credit (see instructions) Individuals and partnerships 6 .00 7 .00 8 Enter the amount from line 5 .................................................... 8 .00 9 Total credit (add lines 6, 7, and 8; see instructions) . ..................... 9 .00 6 Enter the amount from line 1 .................................................... Partners, S corporation shareholders, beneficiaries 7 Enter the amount from line 2 .................................................... Fiduciaries 654002230094
Form IT-654 New York City Musical and Theatrical Production Tax Credit Tax Year 2023
More about the New York IT-654 Corporate Income Tax TY 2023
This tax credit certificate is available for taxpayers who are certified by Empire State Development (ESD) to participate in the program
We last updated the New York City Musical and Theatrical Production Tax Credit in January 2024, so this is the latest version of IT-654, fully updated for tax year 2023. You can download or print current or past-year PDFs of IT-654 directly from TaxFormFinder. You can print other New York tax forms here.
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TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the New York IT-654.
| Form Code | Form Name |
|---|---|
| IT-654 (Instructions) | New York City Musical and Theatrical Production Tax Credit (Instructions) |
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 IT-654 from the Department of Taxation and Finance in January 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of New York IT-654
We have a total of two past-year versions of IT-654 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 IT-654
Form IT-654 New York City Musical and Theatrical Production Tax Credit Tax Year 2023
2022 IT-654
Form IT-654 New York City Musical and Theatrical Production Tax Credit Tax Year 2021
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