IT-643: Hire a Veteran Credit (2024)
New York · NY DTF · Used for tax years 2024
Form IT-643 calculates New York’s Hire a Veteran Credit for wages paid to qualified veterans, including qualified disabled veterans, in full-time or part-time positions. It also reports shares of the credit received from an entity, credit used for the current tax year, and unused
Who files this form
Form IT-643 is used to claim the Hire a Veteran Credit. The form provides for:
- Individuals who earned the credit as sole proprietors.
- Partnerships that earned the credit.
- Fiduciaries of estates or trusts that earned the credit.
- Partners, New York S corporation shareholders, and estate or trust beneficiaries who received a share of the credit.
The form also includes a line for credit carried over from last year’s Form IT-643.
What you'll need
Have the following forms and information ready, as applicable:
- The required Form DTF-75 for each veteran for whom you are claiming the credit.
- Your name and identifying number as shown on your return, plus the business’s employer identification number (EIN).
- The total number of employees claimed for the credit.
- Each veteran’s name, Social Security number, employment period, and wages paid.
- For a credit received from another entity: its name, entity type, EIN, and your share of the credit.
- For fiduciary allocations: each beneficiary’s name, identifying number, and share of the credit.
- Last year’s Form IT-643 if you have a credit carryover.
- Your tax due before credits and the amount of tax credits claimed before this credit.
How to file
Submit Form IT-643 with Form IT-201, IT-203, IT-204, or IT-205.
All filers must complete line A. The schedules to complete depend on how you are claiming the credit:
- Sole proprietor who earned the credit: Schedules A, D, and E.
- Partnership that earned the credit: Schedules A and D.
- Fiduciary who earned the credit: Schedules A, C, D, and E.
- Partner, shareholder, or beneficiary receiving a share of the credit: Schedules B, D, and E. A fiduciary must also complete Schedule C.
Partnerships must enter the line 12 amount and code 643 on Form IT-204, line 147. All other filers complete Schedule E.
Common mistakes
- Leaving line A blank: The form says all filers must complete it.
- Missing the affidavit confirmation: Line D tells you to mark an X if you have the required Form DTF-75 for each veteran for whom you are claiming the credit.
- Submitting IT-643 without the accompanying return: The form directs you to submit it with Form IT-201, IT-203, IT-204, or IT-205.
Questions people ask
How is the credit calculated for qualified veterans?
Schedule A uses 15% of the wages entered for each qualified veteran, limited to $15,000 for a full-time position or $7,500 for a part-time position.
How is the credit calculated for qualified disabled veterans?
Schedule A uses 20% of the wages entered for each qualified disabled veteran, limited to $20,000 for a full-time position or $10,000 for a part-time position.
Where do I report a share of the credit received from another entity?
Use Schedule B for a share received from a partnership, New York S corporation, or estate or trust. Enter the entity’s name, type, EIN, and your share of the credit.
How does the form calculate unused credit carried forward?
Schedule E limits the credit used for the current tax year to the lesser of line 12 or line 15. It then subtracts the credit used from the total credit to find the unused amount. Line 19 subtracts unused expired credit from that unused amount to determine the credit available for carryover to next year.