Instructions for Form IT-650 Empire State Apprenticeship Tax Credit - New York

Form IT-650 Empire State Apprenticeship Tax Credit - New York

This document contains official instructions for Form IT-650 , Empire State Apprenticeship Tax Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-650 is available for download through this link.

FAQ

Q: What is Form IT-650?A: Form IT-650 is the Empire StateApprenticeship Tax Credit form in New York.

Q: What is the Empire State Apprenticeship Tax Credit?A: The Empire State Apprenticeship Tax Credit is a tax credit available to employers who participate in qualifying apprenticeship programs in New York.

Q: Who is eligible for the tax credit?A: Employers who participate in qualifying apprenticeship programs in New York are eligible for the tax credit.

Q: What is the purpose of the tax credit?A: The tax credit is designed to incentivize employers to participate in apprenticeship programs and promote workforce development in the state.

Q: How much is the tax credit?A: The amount of the tax credit depends on the number of qualified apprentices employed by the employer.

Q: How can I claim the tax credit?A: You can claim the tax credit by filing Form IT-650 with the New York State Department of Taxation and Finance.

Q: What documentation do I need to submit with Form IT-650?A: You will need to submit documentation verifying your participation in a qualifying apprenticeship program and the number of qualified apprentices employed.

Q: When is the deadline to file Form IT-650?A: The deadline to file Form IT-650 is the same as the employer's tax return due date, including extensions.