IT-612: Claim for Remediated Brownfield Credit for Real Property Taxes - For Qualified Sites Accepted into the Brownfield Cleanup Program Prior to July 1, 2015 (2025)

Who files this form

Use Form IT-612 to claim the remediated brownfield credit for real property taxes for qualified sites accepted into the Brownfield Cleanup Program before July 1, 2015.

The form includes sections for:

• Individuals, including sole proprietors, partnerships, and fiduciaries.
• Partners, New York S corporation shareholders, and estate or trust beneficiaries who receive a share of the credit.

File a separate Form IT-612 for each Certificate of Completion (COC).

What you'll need

Have the following ready to complete the form:

• Your name and identifying number as shown on your return.
• The Brownfield Cleanup Agreement execution date.
• The Certificate of Completion issued by the Department of Environmental Conservation. Submit a copy with the form and use it to complete the site information in Schedule A.
• Sale or transfer documentation, if the COC was transferred with the sale or transfer of the qualified site. Enter the transfer date and submit a copy of that documentation.
• Full-time employee counts for March 31, June 30, September 30, and December 31 of the current tax year, for the developer and any lessees at the qualified site.
• Eligible real property tax amounts and any credit recapture amounts.

If you received a share of the credit from an entity, you will also need its name, entity type, employer identification number, and your share of the credit.

How to file

File a separate Form IT-612 for each Certificate of Completion with your return: Form IT-201, IT-203, IT-204, or IT-205. Attach a copy of the COC and, if applicable, the sale or transfer documentation.

Complete the schedules that apply to you:

• Schedule A identifies the brownfield site.
• Schedules B and C calculate the employee average and site credit.
• Schedules D and E report credits received through partnerships, S corporations, estates, or trusts.
• Schedule F divides credit and recapture between beneficiaries and fiduciaries.
• Schedule G computes the credit, and Schedule H summarizes recapture.

The supplied form does not give a mailing address or e-filing directions.

Common mistakes

• Do not combine multiple Certificates of Completion on one Form IT-612. File a separate form for each COC.
• Do not omit the required COC copy or, when applicable, sale or transfer documentation.
• Do not claim a credit if the average number of full-time employees on line 1 is less than 25. The form states that no credit is allowed.
• On line 4, use 1.00 only if the qualified site is located entirely within an environmental zone. Otherwise, enter .25.
• On line 10, enter the lesser of the credit after recapture on line 8 or the credit limitation on line 9.

Questions people ask

How does the employee average affect the credit?

No credit is allowed if the average on line 1 is less than 25. The employment number factor is .25 for an average of at least 25 but less than 50, .50 for at least 50 but less than 75, .75 for at least 75 but less than 100, and 1.00 for at least 100.

What is the credit limitation shown on the form?

Line 9 multiplies the average number of full-time employees on line 1 by $10,000. Line 10 uses the lesser of that limit or the credit after recapture on line 8.

What if I received a share of the credit from another entity?

Complete Schedule D for each partnership, New York S corporation, estate, or trust that provided a share of the credit. Report your share in Schedule E.

How do I report that the site is in a Brownfield Opportunity Area?

Mark box E if you received notification from the Department of State that the qualified site is located in a Brownfield Opportunity Area.

Official sources

• https://www.tax.ny.gov/pdf/current_forms/it/it612_fill_in.pdf