IT-668: Semiconductor Research and Development Credit (2025)
New York · NY DTF · Used for tax years 2025
Form IT-668 is used to claim New York’s Semiconductor Research and Development 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-668 is used to claim the Semiconductor Research and Development Credit. The form covers:
- Individuals, including sole proprietors, partnerships, and estates or trusts that earned the credit.
- Partners, New York S corporation shareholders, and beneficiaries receiving a share of the credit.
All filers must complete line A to show whether they earned the credit directly or received a share.
What you'll need
Have the following ready:
- Each credit certificate issued by Empire State Development. You must submit a copy with your return.
- The certified entity’s name, employer identification number (EIN), year of eligibility, and certificate number.
- Your name and identifying number as shown on your return.
- If you received a share of the credit, the amount of that share and the entity type.
If you received the credit from 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 beneficiaries’ names as shown on Form IT-205, Schedule C, their identifying numbers, and their shares of the credit.
How to file
Submit Form IT-668 with Form IT-201, IT-203, IT-204, or IT-205. Include a copy of the certificate, and submit a separate Form IT-668 for each certificate issued by Empire State Development.
Complete the form according to your answer on line A:
- Yes: Complete lines B through E and Schedules A and D. Fiduciaries must also complete Schedule C.
- No: Complete lines B through F and Schedules B and D. Fiduciaries must also complete Schedule C.
Schedule D calculates the total available credit by subtracting any recapture on line 14 from the total credit on line 13.
Common mistakes
- Skipping line A: All filers must complete it.
- Leaving out certificate information: The certificate information section must be completed.
- Using one form for multiple certificates: Submit a separate Form IT-668 for each certificate issued by Empire State Development.
- Forgetting the certificate copy: Submit a copy with your return.
- Omitting the entity that passed the credit to you: If you marked No on line A and received the credit from an entity other than the one listed on the certificate, provide that entity’s name, identifying number, and type.
Questions people ask
How do I answer line A?
Mark Yes if you are claiming as an individual, partnership, or fiduciary of an estate or trust that earned the credit. Mark No if you are claiming as a partner, shareholder, or beneficiary receiving a share of the credit.
What do I enter for the year of eligibility?
Enter a number from 1 to 10 on line D.
What if I have more than one certificate?
Submit a separate Form IT-668 for each certificate. Schedule A, line 2, combines line 1 amounts from additional forms. Schedule B, line 5, combines line 4 amounts from additional forms.
Which type code identifies the entity that passed the credit to me?
In the entity information area for credit received from an entity other than the one listed on the certificate, enter P for partnership, S for New York S corporation, or ET for estate or trust.