IT-663: Commercial Security Credit (2024)
New York · NY DTF · Used for tax years 2024
Form IT-663 is used to claim New York’s Commercial Security Credit. It reports certificate information, credit earned or received as a share from an entity, and the total available credit after any recapture.
Who files this form
Form IT-663 is used to claim the commercial security credit. It covers:
- Individuals, including sole proprietors, partnerships, and estates or trusts that earned the credit.
- Partners, S corporation shareholders, and beneficiaries receiving a share of the credit.
All filers must complete line A to indicate whether they earned the credit directly or received a share of it.
What you'll need
Have these documents and details available:
- A copy of each credit certificate issued by the Division of Criminal Justice Services (DCJS). Submit a copy with your return.
- The certified entity’s name, employer identification number (EIN), allocation year, and certificate number.
- Your name and identifying number as shown on your return.
- The credit amount from your certificate, or your share of the credit if you received it as a partner, shareholder, or beneficiary.
If you received the credit through an entity other than the one listed on the certificate, you also need that entity’s name, identifying number, and type.
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-663 with Form IT-201, IT-203, IT-204, or IT-205. Complete a separate IT-663 for each DCJS certificate and submit a copy of the certificate with your return.
- Complete line A.
- If you mark Yes, complete lines B through E and Schedules A and D.
- If you mark No, complete lines B through F and Schedules B and D.
- If you are a fiduciary, also complete Schedule C.
In Schedule D, add lines 10, 11, and 12 to calculate total credit on line 13. Subtract the recapture amount on line 14 to calculate total available credit on line 15.
Common mistakes
- Leaving line A blank. Every filer must complete it.
- Skipping the certificate information. The form says this section must be completed.
- Using one form for multiple certificates. Submit a separate IT-663 for each DCJS certificate.
- Forgetting the certificate copy. Submit it with your return.
- Missing Schedule C as a fiduciary. Fiduciaries must complete it whether they mark Yes or No on line A.
- Omitting an intermediary entity’s details. If you mark No on line A and received the credit from an entity other than the one on the certificate, provide that entity’s name, identifying number, and type.
Questions people ask
Where do I enter credit that I earned directly?
Enter the commercial security credit from your certificate on Schedule A, line 1. Enter the line 1 totals from any additional Forms IT-663 on line 2, then add lines 1 and 2 on line 3.
Where do I enter a share of the credit I received?
Use Schedule B. Enter your share on line 4 and the line 4 totals from additional Forms IT-663 on line 5. Add them on line 6.
What entity-type codes are listed for an entity that passed the credit to me?
If that entity differs from the entity on the certificate, use P for partnership, S for New York S corporation, or ET for estate or trust in the Type field.
How does a fiduciary calculate the estate’s or trust’s share?
In Schedule C, add lines 3 and 6 on line 7. Enter the share allocated to beneficiaries on line 8. Subtract line 8 from line 7 to get the fiduciary’s share on line 9, then enter that amount on line 12.