IT-648: Life Sciences Research and Development Tax Credit (2025)
New York · NY DTF · Used for tax years 2025
Form IT-648 is used to report and calculate the New York Life Sciences Research and Development Tax Credit. It includes sections for credit earned directly, shares received from an entity, and allocations between an estate or trust and its beneficiaries.
Who files this form
Form IT-648 is used to claim the Life Sciences Research and Development Tax Credit by:
- Individuals, including sole proprietors, partnerships, and estates or trusts that earned the credit.
- Partners, shareholders of New York S corporations, and beneficiaries of estates or trusts receiving a share of the credit.
Submit this form with Form IT-201, IT-203, IT-204, or IT-205.
What you'll need
- A copy of each certificate of tax credit issued by Empire State Development (ESD). The certificate provides the credit allocation year, certificate number, and number of employees.
- Your name and identifying number as shown on your return.
- If you received a share of the credit: each entity’s name, type, employer identification number, and your share of the credit.
- For fiduciaries completing Schedule C: beneficiaries’ names as shown on Form IT-205, Schedule C, identifying numbers, and allocated shares of the credit.
How to file
Submit Form IT-648 with Form IT-201, IT-203, IT-204, or IT-205. Use a separate Form IT-648 for each certificate issued by ESD, and submit a copy of the certificate with your return.
All filers must complete line A:
- If you answer Yes, complete lines B through E and Schedules A and D. Fiduciaries must also complete Schedule C.
- If you answer No, complete lines B through D and Schedules B and D. Fiduciaries must also complete Schedule C.
Schedule D calculates the total credit by adding lines 6, 7, and 8 on line 9.
Common mistakes
- Leaving line A blank. The form says all filers must complete it.
- Filing only one Form IT-648 for multiple certificates. A separate form is required for each ESD certificate.
- Forgetting to submit a copy of the certificate with your return.
- Entering more than $500,000 on line 1b. The form states that this total may not exceed $500,000.
- Skipping Schedule C when filing as a fiduciary. The form requires fiduciaries to complete it whether they answer Yes or No on line A.
Questions people ask
Where do I find the information for lines B through D?
Use your certificate of tax credit for the credit allocation year, certificate number, and number of employees.
How do I indicate my year of eligibility?
On line E, mark an X in the box for the first, second, or third year of eligibility for which you are claiming the credit.
How do I report a credit received from another entity?
Complete Schedule B for each entity. Enter P for a partnership, S for an S corporation, or ET for an estate or trust, along with the entity’s name, employer identification number, and your share of the credit. Use additional forms if necessary.
How does a fiduciary calculate its share?
In Schedule C, add lines 1b and 2 to get line 3. Total the credit allocated to beneficiaries on line 4, then subtract line 4 from line 3. Enter the fiduciary’s share on lines 5 and 8.