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 tax form for claiming the Remediated Brownfield Credit for Real Property Taxes.

Q: What is the Remediated Brownfield Credit?A: The Remediated Brownfield Credit is a tax credit available for real property taxes on qualified sites that have been accepted into the Brownfield Cleanup Program.

Q: Who can claim the Remediated Brownfield Credit?A: Property owners whose sites have been accepted into the Brownfield Cleanup Program prior to July 1, 2015 can claim the Remediated Brownfield Credit.

Q: What is the Brownfield Cleanup Program?A: The Brownfield Cleanup Program is a New York State program that aims to incentivize the cleanup and redevelopment of contaminated properties.

Q: What is the deadline for filing Form IT-612?A: The deadline for filing Form IT-612 is generally the same as the deadline for filing your New York State tax return, which is usually April 15th.

Q: Are there any supporting documents required with Form IT-612?A: Yes, you must attach a copy of the Letter of Completion from the New York State Department of Environmental Conservation as supporting documentation.

Q: How long does it take to receive the Remediated Brownfield Credit?A: The processing time for the Remediated Brownfield Credit can vary, but it generally takes several weeks to months to receive the credit.

Q: Can the Remediated Brownfield Credit be carried forward to future years?A: Yes, any unused portion of the Remediated Brownfield Credit can be carried forward for up to 5 years.