IT-607: Claim for Excelsior Jobs Program Tax Credit (2025)
New York · NY DTF · Used for tax years 2025
Form IT-607 is used to claim New York's Excelsior Jobs Program Tax Credit. It reports the jobs, investment, research and development, real property, and child care services credit components, along with shares allocated to beneficiaries and any recapture of credit.
Who files this form
Form IT-607 is used to claim the Excelsior Jobs Program tax credit. The form includes entries for individuals, including sole proprietors, partnerships, fiduciaries, partners, S corporation shareholders, and beneficiaries.
If you received a share of the credit from a partnership, New York S corporation, estate, or trust, complete Schedule B for each entity. Estates and trusts must also complete Schedule C.
What you'll need
Have these documents and details ready:
- A copy of each certificate of tax credit issued by Empire State Development (ESD). You must submit the copies with this form.
- Your name and identifying number as shown on your tax return.
- Your certificate number, project number, and year of eligibility.
- Amounts for each credit component you are claiming, including any shares received from other entities.
- For Schedule B, each entity’s name, type, and employer identification number.
- For an estate or trust, beneficiary names as shown on Form IT-205, Schedule C, identifying numbers, and allocated shares of credit and recapture.
Green CHIPS projects also need the phase shown on the ESD certificate of tax credit.
How to file
Submit Form IT-607 with Form IT-201, IT-203, IT-204, or IT-205. Include a copy of the certificate or certificates of tax credit issued by ESD.
Calendar-year filers must mark the calendar-year box. Other filers must enter the beginning and ending dates of their tax period.
The supplied form does not provide a mailing address or e-file directions.
Common mistakes
- Leaving out the ESD certificates. The form says you must submit a copy of the certificate or certificates of tax credit.
- Submitting IT-607 without the related return. Submit it with Form IT-201, IT-203, IT-204, or IT-205.
- Skipping Schedule B for a credit received from another entity. Complete the requested information for each partnership, New York S corporation, estate, or trust that provided a share of the credit.
- Skipping Schedule C for an estate or trust. The form states that an estate or trust must complete this part.
Questions people ask
What credit components are listed on IT-607?
Schedule A lists five components: jobs, investment, research and development, real property, and child care services. Add their totals on line 26.
What do I enter for the year of eligibility?
Item B asks for a number from 1 to 10. It also refers filers to the instructions, which were not provided with this form text.
What extra information is required for a Green CHIPS project?
In item B1, indicate Phase 1 or Phase 2 as shown on your ESD certificate of tax credit.
Where is recapture of credit reported?
Use Schedule E to total recapture on line 42. Individuals, including sole proprietors, partners, S corporation shareholders, and beneficiaries enter that amount and code 607 on Form IT-201-ATT, line 20, or Form IT-203-ATT, line 19. Fiduciaries include the amount on Form IT-205, line 12. Partnerships enter the amount and code 607 on Form IT-204, line 148.