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New York Free Printable Form IT-602 Claim for EZ Capital Tax Credit Tax Year 2023 for 2024 New York Claim for EZ Capital Tax Credit.

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Claim for EZ Capital Tax Credit.
Form IT-602 Claim for EZ Capital Tax Credit Tax Year 2023

Department of Taxation and Finance Claim for EZ Capital Tax Credit Tax Law – Section 606(l) IT-602 Submit this claim with your Form IT-201, IT-203, or IT-205. Name(s) as shown on your return Identifying number as shown on return Schedule A – Limitation of EZ capital tax credit 1 Tax from Form IT-201, Form IT-203, or Form IT-205 (see instructions)........................................... 1 .00 2 Multiply line 1 by 50% (.50)........................................................................................................... 2 .00 Schedule B – Computation of EZ capital tax credit used and carried forward 3 Enter the carryover credit from last year’s Form IT-602................................................................ 3 .00 4 EZ capital tax credit available for use this year (enter the amount from line 2 or line 3, whichever is less) 4 .00 5 Tax due before credits (see instructions).......................................................................................... 5 .00 6 Tax credits claimed before this credit (see instructions)................................................................... 6 .00 7 Net tax (subtract line 6 from line 5).................................................................................................... 7 .00 8 Amount of credit used for the current tax year (enter the lesser of line 4, or line 7; see instructions)....... 8 .00 9 Amount of credit available for carryover to next year (subtract line 8 from line 3)............................. 9 .00 162001230094 IT-602 (2023) (back) Instructions General information The Empire Zone (EZ) capital tax credit has expired. For tax years beginning on or after April 1, 2014, you may only claim an EZ capital tax credit carryover from previous years. You may continue to use any credit carryovers from previous years against your tax liability. However, if your business was required to obtain an EZ retention certificate but was denied one, you will not be eligible to claim the carryover credit attributable to investments in a certified EZ business. You do not need an EZ retention certificate to claim the carryover of credit from contributions to community development projects. The credit may not exceed the lesser of: • the tax due under Article 22, or • 50% of the tax imposed by Article 22 section 601, without regard to any credit. Any amount of the carryover of credit not deductible in the current tax year may be carried over to be deducted from the tax for succeeding tax years. Line instructions See the instructions for your tax return for the Privacy notification or if you need help contacting the Tax Department. Line 1 – Calculate the amount to enter on this line as follows: • Form IT-201 filers: Enter the total of your tax from line 39 and Form IT-230-I, Worksheet A, line 1, reduced by any resident credit and accumulation distribution credit. • Form IT-203 filers: Enter the total of your tax from line 46 and Form IT-203-ATT, line 18, reduced by any resident credit and accumulation distribution credit. • Form IT-205 filers: Resident – Enter the tax from line 8, reduced by any resident credit and accumulation distribution credit. Nonresident and part-year resident – Enter the tax from line 9, reduced by any resident credit and accumulation distribution credit. Line 5 Form IT-201 filers: Enter the tax from Form IT-201, line 39, plus any amount from Form IT-201-ATT, line 21. Form IT-203 filers: Enter the tax from Form IT-203, line 46, plus any amount from Form IT-203-ATT, line 20. Form IT-205 filers: Enter the tax from Form IT-205, line 8 (for residents), or line 9 (for nonresidents), plus any credits shown on line 1 of the Addbacks worksheet, in the instructions for Form IT-205, line 12. Line 6 – If you are applying any credits against the tax before this credit, enter those amounts here. When applying credits, use the following rules: • First apply any household credit. • Next apply any credits that cannot be carried over or refunded. • Then apply any credits that can be carried over for a limited duration. 162002230094 • Then apply any credit that can be carried over for an unlimited duration. • Apply refundable credits last. Line 8 – Enter the amount from line 8 and code 162 on Form IT-201-ATT, line 6, or Form IT-203-ATT, line 7, or include it on Form IT-205, line 10.
Extracted from PDF file 2023-new-york-form-it-602.pdf, last modified November 2006

More about the New York Form IT-602 Individual Income Tax Tax Credit TY 2023

We last updated the Claim for EZ Capital Tax Credit. in January 2024, so this is the latest version of Form IT-602, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IT-602 directly from TaxFormFinder. You can print other New York tax forms here.


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Other New York Individual Income Tax Forms:

TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IT-201 Individual Income Tax Return
Form IT-201-D Resident Itemized Deduction Schedule (DISCONTINUED)
IT-201-V Payment Voucher for Income Tax Returns
Form IT-201-I Individual Income Tax Return Instructions
Form IT-203 Nonresident Income Tax Return

Download all NY tax forms View all 272 New York Income Tax Forms


Form Sources:

New York usually releases forms for the current tax year between January and April. We last updated New York Form IT-602 from the Department of Taxation and Finance in January 2024.

Show Sources >

Form IT-602 is a New York Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of New York Form IT-602

We have a total of twelve past-year versions of Form IT-602 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form IT-602

Form IT-602 Claim for EZ Capital Tax Credit Tax Year 2023

2022 Form IT-602

Form IT-602 Claim for EZ Capital Tax Credit Tax Year 2022

2021 Form IT-602

Form IT-602 Claim for EZ Capital Tax Credit Tax Year 2021

2020 Form IT-602

Form IT-602:2020:Claim for EZ Capital Tax Credit:it602

2019 Form IT-602

Form IT-602:2019:Claim for EZ Capital Tax Credit:it602

2018 Form IT-602

Form IT-602:2018:Claim for EZ Capital Tax Credit:it602

2017 Form IT-602

Form IT-602:2017:Claim for EZ Capital Tax Credit:IT602

2016 Form IT-602

Form IT-602:2016:Claim for EZ Capital Tax Credit:IT602

2015 Form IT-602

Form IT-602:2015:Claim for EZ Capital Tax Credit:IT602

Claim for EZ Capital Tax Credit. 2014 Form IT-602

Form IT-602:2014:Claim for EZ Capital Tax Credit:IT602

Claim for EZ Capital Tax Credit. 2013 Form IT-602

Form IT-602:2013:Claim for EZ Capital Tax Credit:IT602

2012 Form IT-602

Form IT-602:2012:Claim for EZ Capital Tax Credit:IT602


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