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Learn how to claim the investment credit for qualified property used in manufacturing, retail, and more in New York State. Detailed instructions included.
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What is it-212?
IT-212 is a tax form used for New York State businesses to report and claim deductions for certain business expenses and to calculate their tax liability.
Who is required to file it-212?
Businesses operating in New York State that have income subject to state taxes are required to file IT-212.
How to fill out it-212?
To fill out IT-212, businesses must provide information regarding their income, deductions, and credits as specified in the form's instructions, ensuring all sections are completed accurately.
What is the purpose of it-212?
The purpose of IT-212 is to calculate the amount of tax owed by a business and to allow for deductions on eligible business expenses to reduce tax liability.
What information must be reported on it-212?
Information to be reported on IT-212 includes total income, business expenses, tax credits, and specific details relevant to deductions being claimed.
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