CT-612: Claim for Remediated Brownfield Credit For Real Property Taxes For Qualified Sites Accepted into the Brownfield Cleanup Program Prior to July 1, 2015 (2024)
New York · NY DTF · Used for tax years 2024
Form CT-612 is used by corporations to claim New York's remediated brownfield credit for real property taxes for qualified sites accepted into the Brownfield Cleanup Program before July 1, 2015. It reports site information, employment figures, eligible real property taxes, and th
Who files this form
Corporations claiming the remediated brownfield credit for real property taxes use Form CT-612 for qualified sites accepted into the Brownfield Cleanup Program before July 1, 2015.
File a separate Form CT-612 for each Certificate of Completion (COC). Corporate partners claiming the credit must mark box A.
No credit is allowed if the average number of full-time employees entered on line 1 is less than 25.
What you'll need
- A copy of the Certificate of Completion (COC) issued by the Department of Environmental Conservation (DEC). Submit it with the form.
- If the COC was transferred through a sale or transfer of the qualified site, a copy of the sale or transfer documentation. Submit it with the form and enter the COC transfer date.
You will also need your corporation’s legal name, EIN, and tax period; the Brownfield Cleanup Agreement execution date; and the site information listed on the COC.
The form asks for employee counts, eligible real property taxes, and tax and credit amounts. If claiming credit from partnerships, Schedule E asks for each partnership’s name, EIN, and credit amount.
How to file
File Form CT-612 with Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, CT-33-NL, CT-183, or CT-184. Use a separate CT-612 for each COC.
Enter the beginning and ending dates of your tax period. Complete the site information in Schedule A and submit a copy of the COC. If applicable, also submit the sale or transfer documentation.
The supplied form does not state a mailing address or provide e-filing directions.
Common mistakes
- Leaving the tax period blank. All filers must enter it.
- Combining multiple COCs on one form. A separate CT-612 is required for each COC.
- Forgetting to submit a copy of the COC or, when applicable, the sale or transfer documentation.
- Claiming a credit when the average number of full-time employees on line 1 is less than 25. The form says no credit is allowed.
- Using 1.0 on line 4 when the site is not entirely within an environmental zone (EN-Zone). Otherwise, enter 0.25.
- Completing Schedule D as a New York S corporation. The form says New York S corporations do not complete this section.
Questions people ask
Do I need a separate form for each site certificate?
Yes. File a separate Form CT-612 for each Certificate of Completion (COC).
What if my average number of full-time employees is below 25?
The form states that no credit is allowed if the average entered on line 1 is less than 25.
Does being entirely within an EN-Zone change the calculation?
Yes. On line 4, enter 1.0 if the qualified site is entirely within an EN-Zone. Otherwise, enter 0.25.
What happens to unused credit?
Schedule D provides lines to request a refund of unused credit or credit the unused, nonrefunded amount as an overpayment in the next tax year. New York S corporations do not complete Schedule D.
What if I received a Brownfield Opportunity Area notification?
Mark the designated box if the Department of State notified you that the qualified site is in a Brownfield Opportunity Area.