Use the New York Tax Form Calculator New York Tax Form 621: Claim for QETC Employment 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 621: Claim for QETC Employment 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.
|File this form with corporate franchise tax return Form CT-3, CT-3-A, or CT-3-S, or with income tax return Form IT-201, IT-203, IT-204, or IT-205.|
|Mark with an X the tax year for which you are claiming the qualified emerging technology company (QETC) employment credit on this return:|
|Schedule A – Eligibility requirements (All the questions in Schedule A pertain to the tax year for which you are claiming the credit.)|
|Part 1 – Location and sales (mark X in the appropriate boxes)|
|1||Is the company located in New York State?|| |
|2||Are the total annual product sales of the company $10000000 or less?|| |
|If you answered Yes to questions 1 and 2, continue with Part 2. If you answered No to either question 1 or 2, you do not qualify for a QETC employment credit for the current tax year.|
|Part 2 – QETC business activities|
|Research and development (R&D) activities (see instructions)|
|3||Does the company have R&D activities in New York State?|
If No, skip lines 4 through 7 and continue with question 8. If Yes, continue with line 4
|7||Does the percentage on line 6 equal or exceed 3.3%?|
If Yes, you are a QETC; continue with Part 3. If No, continue with question 8.
|Primary products and services|
|8||Does the company develop or create products or services that are classified as emerging technologies?|| |
|If Yes, enter in the box below a description of the company’s emerging technology products or services, and continue with line 9.|
If you answered No to lines 3 and 8 or lines 7 and 8, you cannot claim this credit
If line 10 is zero, skip lines 11 and 12 and continue with line 13.
If line 10 is greater than zero, continue with line 11.
|12||Is the percentage on line 11 greater than 50%? |
If Yes, continue with Part 3. If No, you cannot claim this credit.
|16||Is the percentage on line 15 greater than 50%?|
If Yes, continue with Part 3. If No, stop. You cannot claim this credit.
|Part 3 – Computation of average number of full-time employees in New York State for the current tax year and three-year base period|
|Current tax year||March 31||June 30||Sept. 30||Dec. 31||Total|
|Number of full-time employees in New York State|
|Number of full-time employees in New York State for three-year base period||March 31||June 30||Sept. 30||Dec. 31||Total|
|If your percentage of employment for full-time employees in New York State on line 19 is less than 101%, do not complete Schedule B; see instructions.|
If your percentage of employment is at least 101%, continue with Schedule B
|Schedule B – Computation of credit for the current tax year|
|Additional information for Schedule B – Employee listing|
|List below each employee used to compute the average number of full-time employees on line 17.|
|Employee’s name||Social security number||Employee’s name||Social security number|
|Schedule C – Computation of QETC employment credit|
|Schedule D – Computation of QETC employment credit limitation (Article 9-A only)|
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