IT-653: Pass-Through Entity Tax Credit (2025)
New York · NY DTF · Used for tax years 2025
Form IT-653 reports New York State and New York City pass-through entity tax credit amounts for tax paid on your behalf. It lists each entity’s name, employer identification number, and credit amounts, and totals the credits. Submit it with Form IT-201, IT-203, or IT-205.
Who files this form
Form IT-653 reports New York State pass-through entity tax (PTET) and New York City PTET credit amounts for tax paid on your behalf. Submit it with Form IT-201, IT-203, or IT-205.
The form does not state detailed eligibility rules.
What you'll need
Have the following information ready:
- Your name(s) and identifying number as shown on your return.
- Each entity’s name and employer identification number (EIN).
- The PTET credit amount and NYC PTET credit amount for each entity.
Form IT-653 must accompany Form IT-201, IT-203, or IT-205.
How to file
Submit Form IT-653 with Form IT-201, IT-203, or IT-205. The supplied form does not give a mailing address or e-filing directions.
Questions people ask
Does this form cover both state and city PTET credits?
Yes. Schedule A has separate columns for the New York State PTET credit and the NYC PTET credit.
What information goes in Schedule A?
Enter each entity’s name in column A, its EIN in column B, its PTET credit amount in column C, and its NYC PTET credit amount in column D.
How are the credit totals calculated?
Line 1 adds the column C amounts. Line 2 adds the column D amounts. Line 3 adds lines 1 and 2. Line 3 also refers to instructions, which were not supplied here.
What if I use additional Forms IT-653?
Schedule A includes a row for the totals of columns C and D from any additional Forms IT-653.