New York Tax Form 212 Fill in and Calculate New York State tax Online

New York Tax Form 212: Investment Credit

Use the New York Tax Form Calculator New York Tax Form 212: Investment Credit as a stand alone tax form calculator to quickly calculate specific amounts for your 2023 New York state tax return. New York Tax Form 212: Investment Credit is also integrated into our comprehensive New York State Tax Calculator where you can complete and save your calculations for later use. Alternatively you can use one of our Combined Federal and New York State Tax Estimator to quickly calculate your salary, tax and take home pay in New York.

Tax Law – Article 22, Section 606(a)
Part 1 – Computation of credit (see Form IT-212-I, Instructions for Form IT-212)
Individual or fiduciary		1	Credit from line 25, column F						1
		2	Credit from line 25, column G						2
Beneficiary		3	Share of investment tax credit from the estate or trust.						3
		4	Share of research and development credit from the estate or trust						4
Partner			Partnership name:
			Employer identification number
		5	Partner’s share of credit shown on Form IT-204-IP, line 49						5
		6	Partner’s share of credit shown on Form IT-204-IP, line 50						6
S corporation shareholder			S corporation name:
			Employer identification number
		7	Shareholder’s share of investment credit from the S corporation (see instructions)						7
		8	Shareholder’s share of research and development credit from the S corporation (see instr.)						8
		9	Total (add lines 1 through 8)						9
10	Fiduciaries: Enter credit allocated to beneficiaries								10
11	Subtract line 10 from line 9								11
12	Available carryover credit from last year’s Form IT-212								12
13	Investment credit (add lines 11 and 12)								13
14	Total addback of credit from line 21 (fiduciaries: see instructions)								14
15a	Total investment credit (see instructions)								15a
15b	Net investment credit recapture (see instructions)								15b
Part 2 – Summary of addback of credit on early dispositions (see instructions)
16	Individual’s and partnership’s addback of credit on early dispositions (from line 31)								16
17	Beneficiary’s share of addback of credit on early dispositions								17
18	Partner’s share of addback of credit on early dispositions								18
19	S corporation shareholder’s share of addback of credit on early dispositions								19
20	Estate’s or trust’s addback of credits on early dispositions (from line 31)								20
21	Total (add lines 16 through 20)								21
Part 3 – Investments in qualified property (see instructions)
A – Description of property (list each asset and submit a schedule if needed)		B – Principal use of property		C – Date acquired		D - Useful life in years	E – Investment credit base	F – Investment credit for manufacturing and production, retail enterprise, waste treatment, and pollution control property (column E × 4% (0.4))	G – Investment credit for research and development property (column E × 7% (0.7))
22



23	Enter amount from Form IT-212-ATT, line 11							23
24	Enter amount from Form IT-212-ATT, line 19, column C							24
25	Total investment credit (add amounts in columns F and G) Individuals: Enter the line 25, column F amount on line 1. Enter the line 25, column G amount on line 2. Fiduciaries: Enter the line 25, column F amount on line 1 and on the Total line of Part 5, column C. Enter the line 25, column G amount on line 2 and on the Total line of Part 5, column D. Partnerships: See instructions.							25
Part 4 – Early dispositions of qualified property and addback of credit on early dispositions (see instructions)
A – Description of property (list each asset and submit a schedule if needed)		B – Date acquired		C – Date property ceased to qualify	D – Life (months)	E – Unused life (months)	F – Percentage (E ÷ D)	G – Total investment credit allowed (see instructions)	H – Addback of credit on early dispositions (F × G)
26



27	Enter amount from Form IT-212-ATT, line 12								27
28	Total (add lines 26 and 27, column H, and enter total here)								28
29	Interest rate								29
30	Multiply line 28 by line 29								30
31	Total addback of credit on early dispositions (add amounts on lines 28 and 30) Fiduciaries: Enter the line 31 amount on line 20. All others: Enter the line 31 amount on line 16.								31
Part 5 – Beneficiary’s and fiduciary’s share of investment credit and addback of credit on early dispositions
A – Beneficiary’s name (same as in Form IT-205, Schedule C)		B – Identifying number		C – Share of investment credit for manufacturing and production, retail enterprise, waste treatment, and pollution control property				D – Share of investment credit for research and development property	E – Share of addback of credit on early dispositions
Total



Fiduciary
Part 6 – Application of credit and computation of refund and carryover (see instructions)
32a	Total credit (from line 15a)								32a
32b	Tax due before credits								32b
33	Credits that you applied before this credit								33
34	Net tax (subtract line 33 from line 32b)								34
35	Amount of credit used for the current tax year								35
36	Amount of credit available for refund or carryover to next year (subtract line 35 from line 32a)								36
37	Amount of credit to be refunded								37
38	Amount of credit available for carryover to next year (subtract line 37 from line 36)								38
39	Unused expired tax credits (see instructions) Enter the earliest year (yyyy) of unused credit carryover included in the carryforward								39
40	Amount of credit to be carried over to next year (subtract line 39 from line 38)								40

Tip: use the New York Tax Calculator to edit your refundable and non-refundable tax credits including New York Tax Form 212: Investment Credit. Complete, Calculate, print and or save your tax calculation for later use.

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