Instructions for Form CT-611.2 Claim for Brownfield Redevelopment Tax Credit for Qualified Sites Accepted Into the Brownfield Cleanup Program on or After July 1, 2015 - New York

Form CT-611.2 Claim for Brownfield Redevelopment Tax Credit for Qualified Sites Accepted Into the Brownfield Cleanup Program on or After July 1, 2015 - New York

This document contains official instructions for Form CT-611.2 , Claim for Brownfield Cleanup Program on or After July 1, 2015 - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form CT-611.2 is available for download through this link.

FAQ

Q: What is Form CT-611.2?A: Form CT-611.2 is a tax form used in New York for claiming the Brownfield Redevelopment Tax Credit for qualified sites accepted into the Brownfield Cleanup Program on or after July 1, 2015.

Q: What is the Brownfield Redevelopment Tax Credit?A: The Brownfield Redevelopment Tax Credit is a tax incentive in New York that provides financial benefits to developers and property owners who remediate and redevelop contaminated sites.

Q: Who can use Form CT-611.2?A: Form CT-611.2 can be used by individuals, corporations, and partnerships who have qualified sites accepted into the Brownfield Cleanup Program on or after July 1, 2015.

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

Q: What are qualified sites?A: Qualified sites are properties that have been contaminated with hazardous substances and have been accepted into the Brownfield Cleanup Program for remediation.

Q: What is the deadline for filing Form CT-611.2?A: The deadline for filing Form CT-611.2 is the same as the deadline for filing your New York State income tax return, typically April 15th of the following year.

Q: How do I calculate the Brownfield Redevelopment Tax Credit?A: The Brownfield Redevelopment Tax Credit is calculated based on the eligible expenses incurred in the remediation and redevelopment of the qualified site, subject to certain limitations.

Q: What documentation do I need to include with Form CT-611.2?A: You may need to include documentation such as environmental reports, invoices, and other records that support your claim for the Brownfield Redevelopment Tax Credit.

Q: Can I claim the Brownfield Redevelopment Tax Credit for expenses with a different tax form?A: No, the Brownfield Redevelopment Tax Credit can only be claimed using Form CT-611.2 in New York.