IT-613: Claim for Environmental Remediation Insurance Credit - For Qualified Sites Accepted into the Brownfield Cleanup Program on or After July 1, 2015 (2024)
New York · NY DTF · Used for tax years 2024
Form IT-613 claims New York's environmental remediation insurance credit for qualified sites accepted into the Brownfield Cleanup Program prior to July 1, 2015. It reports qualified insurance premiums, shares of credit received from partnerships, S corporations, estates or trusts
Who files this form
Use Form IT-613 to claim the environmental remediation insurance credit with Form IT-201, IT-203, IT-204, or IT-205. The form includes sections for individuals, including sole proprietors, partnerships, fiduciaries, and people receiving a share of the credit from a partnership, New York S corporation, estate, or trust.
Important scope note: The supplied 2024 form says it covers qualified sites accepted into the Brownfield Cleanup Program prior to July 1, 2015, not on or after that date.
What you'll need
Have the following documents and information ready:
- Your name and identifying number as shown on your return.
- The execution date of the site's Brownfield Cleanup Agreement (BCA).
- The Certificate of Completion (CoC) issued by the Department of Environmental Conservation. Submit a copy with the form.
- The environmental remediation insurance tax credit certification form completed by the insurer. Submit a copy of this as well.
- Site details listed on the CoC, including the site name, location, municipality, county, DEC region, DER site number, and CoC issue date.
- The amount of qualified environmental remediation insurance premiums paid.
- If you received a share of the credit from an entity, its name, type, employer identification number, and your share of the credit.
How to file
- File a separate Form IT-613 for each Certificate of Completion with your return, Form IT-201, IT-203, IT-204, or IT-205.
- Mark the calendar-year box or enter your tax period's beginning and ending dates.
- Complete Schedule A with the BCA and site information. Attach copies of the CoC and the insurer-completed certification form.
- Complete the applicable credit schedules. Schedule B calculates the credit from qualified premiums paid; Schedules C and D cover credits received from other entities; Schedule E covers beneficiary and fiduciary shares.
- Use Schedule F to compute the credit and Schedule G to report any recapture.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Combining multiple certificates on one form: The form directs you to file a separate IT-613 for each CoC.
- Leaving out attachments: Submit both a copy of the CoC and a copy of the environmental remediation insurance tax credit certification completed by the insurer.
- Omitting entity details: If you received a share of the credit, complete Schedule C information for each partnership, New York S corporation, estate, or trust.
Questions people ask
How is the credit calculated in Schedule B?
Multiply qualified environmental remediation insurance premiums paid by 50%. On line 3, enter the smaller of that result or $30,000.
Can I report a credit received from another entity?
Yes. Schedule C asks for the entity's name, type, and employer identification number. Schedule D has lines for your share from a partnership, S corporation, or estate or trust.
What if I have more than one Certificate of Completion?
File a separate Form IT-613 with your return for each CoC.
When should I mark the Brownfield Opportunity Area box?
Mark box C if you received notification from the Department of State that the qualified site is located in a Brownfield Opportunity Area.