Form CT-613 Claim for Environmental Remediation Insurance Credit for Qualified Sites Accepted Into the Brownfield Cleanup Program Prior to July 1, 2015 - New York

What Is Form CT-613?

This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form CT-613?
A: Form CT-613 is a tax form used in New York to claim the Environmental Remediation Insurance Credit for qualified sites accepted into the Brownfield Cleanup Program prior to July 1, 2015.

Q: What is the Environmental Remediation Insurance Credit?
A: The Environmental Remediation Insurance Credit is a tax credit available in New York for costs incurred in remediating contaminated sites.

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

Q: Who can claim the Environmental Remediation Insurance Credit?
A: Property owners or developers who have qualified sites accepted into the Brownfield Cleanup Program prior to July 1, 2015 may be eligible to claim the credit.

Q: What is the purpose of the Environmental Remediation Insurance Credit?
A: The credit is intended to help offset the costs of environmental remediation and encourage the cleanup and redevelopment of contaminated sites.

Q: How do I claim the Environmental Remediation Insurance Credit?
A: You can claim the credit by completing Form CT-613 and filing it with your New York state tax return.

Q: Is there a deadline for claiming the credit?
A: Yes, the deadline for claiming the credit is generally three years from the due date of the tax return for the year in which the qualified site was accepted into the Brownfield Cleanup Program.

Q: Are there any limitations or restrictions on the credit?
A: Yes, there are certain limitations and restrictions on the credit, such as a cap on the amount of credit that can be claimed and the requirement to obtain and maintain environmental remediation insurance.

Q: Can the credit be carried forward or refunded?
A: Yes, any unused portion of the credit can generally be carried forward for up to 15 years or refunded if certain conditions are met.