Form It-604 - Claim For Qeze Tax Reduction Credit - 2012 Page 7
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8IT-604 (2012) Page 7 of 8
Schedule M – Zone allocation factor
(see instructions)
A – EZ
B – New York State
.
.
47 Average value of property
...................... 47
47
(see instructions)
00
00
48 EZ property factor
48
(divide line 47, column A, by line 47, column B; round the result to the fourth decimal place)
.
.
49 Wages and other compensation of employees
49
49
(see instr.)
00
00
50 EZ payroll factor
50
(divide line 49, column A, by line 49, column B; round the result to the fourth decimal place)
51 Total EZ factors
............................................................................................. 51
(add lines 48 and 50)
52 Zone allocation factor
................... 52
(divide line 51 by two; round the result to the fourth decimal place)
Partnerships: Enter the line 52 amount on Form IT-204, line 134 and enter the benefit
period factor on Form IT-204, line 135
(see instructions).
All others: Enter the line 52 amount on line 60.
Schedule N
Tax factor
–
53 Enter your tax from Form IT-201, line 39; Form IT-203, line 38; Form IT-205, line 6 (full-year resident
.
estate or trust); or Form IT-205-A, line 11 (nonresident estate or trust or part-year resident trust)
53
00
.
54 Enter the amount of your income from the QEZE allocated within NYS
............ 54
(see instructions)
00
.
55 New York adjusted gross income
....................................................................... 55
(see instructions)
00
56 Divide line 54 by line 55
.... 56
(the result cannot exceed one; round the result to the fourth decimal place)
.
57 Multiply line 53 by line 56; this is your tax factor
................................... 57
(enter here and on line 61)
00
Schedule O
QEZE tax reduction credit
–
58 Tax year of the business benefit period
; benefit period factor ................................... 58
59 Employment increase factor
.................................................................................... 59
(from line 46)
60 Zone allocation factor
............................................................................................... 60
(from line 52)
.
(from line 57)
61 Tax factor
................................................................................................................. 61
00
.
(multiply line 58 × line 59 × line 60 × line 61)
62 QEZE tax reduction credit
............................................ 62
00
.
63 Tax due before credits
....................................................................................... 63
(see instructions)
00
.
64 Credits applied against the tax before this credit
............................................... 64
(see instructions)
00
.
65 Net tax due
........................................................................................ 65
(subtract line 64 from line 63)
00
.
66 QEZE tax reduction credit used for the current tax year
.................................... 66
(see instructions)
00
164007120094
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