Instructions for Form IT-612 Claim for Remediated Brownfield Credit for Real Property Taxes for Qualified Sites Accepted Into the Brownfield Cleanup Program Prior to July 1, 2015 - New York

Form IT-612 Claim for Remediated Brownfield Credit for Real Property Taxes for Qualified Sites Accepted Into the Brownfield Cleanup Program Prior to July 1, 2015 - New York

This document contains official instructions for Form IT-612 , Claim for Remediated Brownfield Credit for Brownfield Cleanup Program Prior to July 1, 2015 - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-612 is available for download through this link.

FAQ

Q: What is Form IT-612?A: Form IT-612 is a form used to claim the Remediated Brownfield Credit for Real Property Taxes for qualified sites accepted into the Brownfield Cleanup Program prior to July 1, 2015 in New York.

Q: What is the Brownfield Cleanup Program?A: The Brownfield Cleanup Program is a program in New York that provides incentives for the cleanup and redevelopment of contaminated properties.

Q: Who can claim the Remediated Brownfield Credit?A: The Remediated Brownfield Credit can be claimed by individuals, corporations, and other entities that have completed the cleanup and remediation of a brownfield site accepted into the Brownfield Cleanup Program.

Q: What is the deadline for filing Form IT-612?A: The deadline for filing Form IT-612 is generally September 15th of the year following the tax year in which the qualified site was accepted into the Brownfield Cleanup Program.

Q: What expenses can be claimed for the Remediated Brownfield Credit?A: The expenses that can be claimed for the Remediated Brownfield Credit include eligible real property taxes paid on the qualified site.

Q: How much is the Remediated Brownfield Credit?A: The amount of the Remediated Brownfield Credit is based on a percentage of the eligible real property taxes paid on the qualified site, up to a maximum credit amount.

Q: Are there any other requirements to claim the Remediated Brownfield Credit?A: Yes, there are additional requirements, such as maintaining the qualified site in compliance with the Brownfield Cleanup Program and obtaining a Certificate of Completion.