Instructions for Form IT-646 Employee Training Incentive Program Tax Credit - New York

Form IT-646 Employee Training Incentive Program Tax Credit - New York

This document contains official instructions for Form IT-646 , Employee Training Incentive Program Tax Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-646 is available for download through this link.

FAQ

Q: What is Form IT-646?A: Form IT-646 is a tax form for the Employee Training Incentive Program Tax Credit in New York.

Q: What is the Employee Training Incentive Program Tax Credit?A: It is a tax credit in New York that incentivizes employers to provide training opportunities for their employees.

Q: How do I qualify for the Employee Training Incentive Program Tax Credit?A: To qualify, you must be an eligible employer who has incurred eligible training expenses.

Q: What are eligible training expenses?A: Eligible training expenses include the cost of employee training materials, instructor fees, and certain other related expenses.

Q: What is the credit amount?A: The credit amount is 10% of eligible training expenses, up to a maximum credit of $10,000 per employee per taxable year.

Q: When should I file Form IT-646?A: You should file Form IT-646 with your New York State income tax return for the taxable year in which the eligible training expenses were incurred.

Q: Are there any limitations or restrictions?A: Yes, there are certain limitations and restrictions, such as a maximum credit of $10,000 per employee and a total statewide credit limit.

Q: Are there any deadlines for filing?A: Yes, Form IT-646 must be filed on or before the due date of your New York State income tax return for the taxable year.

Q: Can I claim this credit for previous years?A: No, the credit is only available for eligible training expenses incurred in the current taxable year.