IT-660: Empire State Digital Gaming Media Production Credit (2024)
New York · NY DTF · Used for tax years 2024
Form IT-660 calculates the New York Empire State digital gaming media production credit. It reports certificate information, credit earned or received from another entity, and any allocation between an estate or trust and its beneficiaries.
Who files this form
Form IT-660 is for claiming the Empire State Digital Gaming Media Production Credit. It covers:
- 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 who received a share of the credit from those entities.
All filers must complete lines A through E.
What you'll need
Have the following ready:
- Your certificate of tax credit issued by Empire State Development. You must submit a copy with the form.
- The entity name, employer identification number (EIN), certificate number, and allocation year from the certificate for lines B through E.
- Your name and identifying number as shown on your tax return.
If you received a share of the credit, Schedule B asks for each entity's name, type, EIN, certificate number, and your share of the credit.
Fiduciaries completing Schedule C need each beneficiary's name as shown on Form IT-205, Schedule C, identifying number, and share of the credit.
How to file
Submit Form IT-660 with Form IT-201, IT-203, IT-204, or IT-205, and include a copy of your certificate of tax credit.
To complete IT-660:
- Complete lines A through E. On line A, indicate whether you earned the credit directly rather than received a share as a partner, shareholder, or beneficiary.
- If you answer Yes, complete Schedules A and D. If you answer No, complete Schedules B and D.
- If you are a fiduciary, also complete Schedule C.
The supplied form does not provide a mailing address or e-filing directions.
Common mistakes
Keep these printed requirements in mind:
- Do not skip lines A through E. All filers must complete them.
- Do not leave out the required copy of your certificate of tax credit.
- If you are a fiduciary, remember to complete Schedule C in addition to the other required schedules.
- On line 12, partnerships enter the amount from line 11. All other filers enter the lesser of line 11 or $1,500,000.
- Submit IT-660 with Form IT-201, IT-203, IT-204, or IT-205.
Questions people ask
Where do I find the information for lines B through E?
Use your certificate of tax credit issued by Empire State Development. Enter the entity name, EIN, certificate number, and allocation year.
Which schedule do I use for a credit passed through to me?
Use Schedule B if you received a share of the credit as a partner, New York S corporation shareholder, or estate or trust beneficiary. Enter information for each entity. Use P for partnership, S for S corporation, or ET for estate or trust.
How does a fiduciary calculate the estate's or trust's share?
In Schedule C, add lines 3 and 4 to get line 5. Add the beneficiaries' shares for line 6, then subtract line 6 from line 5. Enter the result on lines 7 and 10.
How is the final credit amount calculated?
Add lines 8, 9, and 10 to get the credit before limitation on line 11. Partnerships enter that amount on line 12. All other filers enter the lesser of line 11 or $1,500,000.