Form It-638 - Start-Up Ny Tax Elimination Credit - 2014
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1
2
3New York State Department of Taxation and Finance
IT-638
START-UP NY Tax Elimination Credit
Tax Law – Article 1, Section 40 and Article 22, Section 606(ww)
Calendar-year filers, mark an X in the box:
All other filers enter tax period:
beginning
ending
Submit this form with Form IT-201, IT-203, IT-204, or IT-205.
Name(s) as shown on return
Identifying number as shown on return
A Certificate number from Form DTF-74, Certificate of Eligibility, issued to the approved
START-UP NY business ................................................................................................................ A
B Year of START-UP NY business tax benefit period
................................................. B
(enter a number from 1 to 10; see instructions)
C If you are claiming this credit as a partner in a partnership, shareholder of a New York S corporation, or beneficiary of an
estate or trust, mark an X in the box ............................................................................................................................................ C
Schedule A – Employment test
Computation of the employment number of the approved business and its related persons within New York State for the current tax
year and the year immediately preceding the year in which the business submitted its application to locate in a tax-free NY area.
Current tax year employment number
March 31
June 30
September 30 December 31
Total
Number of employees ......................................
1 Current tax year employment number within New York State
...................................
(see instructions)
1
Tax year immediately preceding START-UP NY
business application
March 31
June 30
September 30 December 31
Total
Tax year
Number
ending
of employees
(mmyyyy)
2 Employment number within New York State for the tax year immediately preceding START-UP NY
business application
................................................................................................
(see instructions)
2
Computation of the average number of net new jobs in the tax-free NY area for the current tax year.
Current tax year net new jobs
March 31
June 30
September 30 December 31
Total
Number of net new jobs ...................................
3 Net new jobs of the business in the tax-free NY area during the tax year
................
(see instructions)
3
4 Add lines 2 and 3 ................................................................................................................................
4
5 Does the amount on line 1 equal or exceed line 4?
..................................................
(see instructions)
Yes
No
5
If No, you do not qualify for the credit. Do not complete the rest of this form.
638001140094
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