Form It-631 - Claim For Security Officer Training Tax Credit - 2012 Page 2
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2IT-631 (2012) (back)
Instructions
Temporary deferral of certain tax credits
A married couple in a business enterprise that made an
IRC 761(f) election to file two federal Schedule C forms
For tax years beginning on or after January 1, 2010, and before
instead of a partnership return: If you file jointly, compute your
January 1, 2013, if the total amount of certain credits that you may
credit amount as if you were filing one federal Schedule C for the
use to reduce your tax or have refunded to you is greater than
business. Complete Part 1, line A, and lines 1 through 5.
$2 million, the excess over $2 million must be deferred to, and used
or refunded in, tax years beginning on or after January 1, 2013. For
Partner in a partnership, shareholder of a New York
more information about the credit deferral, see Form IT-500, Income
S corporation, and beneficiary of an estate or trust:
Tax Credit Deferral.
Complete Part 1, lines 2 through 5, and Part 2.
If you are subject to the credit deferral, you must complete all credit
Fiduciary: Complete Part 1, line A, and lines 1 through 5, and
forms without regard to the deferral. However, the credit amount that
is transferred to your tax return to be applied against your tax due
Part 3. If you are an estate or trust that divides the credit among
or to be refunded to you may be reduced. Follow the instructions for
itself and its beneficiaries, submit all Forms IT-631 with Form IT-205,
Form IT-500 to determine the amounts to enter on your tax return.
Fiduciary Income Tax Return, showing each beneficiary’s share of
credit.
General information
Note: If more than one of the above applies to you, complete all
What is the security officer training tax credit?
appropriate parts on one Form IT-631.
For tax years beginning on or after January 1, 2005, Tax Law
Part 1 – Computation of credit
sections 26 and 606(ii) provide for a security officer training tax
credit for qualified building owners employing qualified security
–
Line 1
Enter the amount shown on your certificate of tax credit
officers. The security officer training tax credit is available to
issued by the New York State DHSES. Complete a separate
taxpayers subject to tax under Article 22 (personal income tax);
Form IT-631 for each certificate, and submit a copy of the certificate
Article 9 (corporation tax); Article 9-A (franchise tax on business
to the form. Add the line 5 amounts from all Forms IT-631, and enter
corporations); Article 32 (franchise tax on banking corporations); or
the total on your return as instructed at line 5.
Article 33 (franchise taxes on insurance corporations). Taxpayers
subject to tax under Article 22 should complete Form IT-631.
Line 3
Taxpayers subject to tax under Article 9, 9-A, 32, or 33 should
Fiduciaries: Enter the line 3 amount on the Total line of Part 3,
complete Form CT-631, Claim for Security Officer Training Tax
column C; then complete Part 3 before completing lines 4 and 5.
Credit.
The credit amount equals $3000 multiplied by the sum of the
Line 5
number of qualified security officers providing protection for a
Partnerships: Enter the line 5 amount and code 631 on
building or buildings owned by a taxpayer. In the case of a qualified
Form IT-204, line 147.
security officer not employed for a full year, the amount of the
credit is prorated to reflect the length of employment. If the credit
All others: If your total credits from all sources are $2 million
or less, enter the amount from line 5 and code 631 on
exceeds the tax for that tax year, the excess credit is treated as an
overpayment to be credited or refunded without interest.
Form IT-201-ATT, line 12, or Form IT-203-ATT, line 12, or include it
on Form IT-205, line 33.
The amount of credit allowed for the current tax year is allocated by
If your total credits from all sources are more than $2 million, you
the New York State Division of Homeland Security and Emergency
may be subject to a credit deferral. Complete line 5, but do not enter
Services (DHSES). For rules and regulations regarding the credit,
access the New York State DHSES Web site at
the amount from line 5 on your tax return. See Form IT-500, Income
Tax Credit Deferral, to determine the proper amount to enter on your
Do I qualify for this credit?
tax return.
You may be eligible to claim the security officer training tax credit on
Part 2 – Partnership, New York S corporation, and estate
Form IT-631 if you have received a certificate of tax credit from the
and trust information
New York State DHSES, are subject to tax under Article 22, and are
classified as one of the following taxpayers:
Enter the appropriate information for each partnership,
• individual (including sole proprietor),
S corporation, or estate or trust from which you received a share of
the security officer training tax credit.
• fiduciary of an estate or trust,
–
Line 6
• partner in a partnership (including member of a limited liability
If you need more space, enter your name and taxpayer
company (LLC) if the LLC is treated as a partnership for federal
identification number, and complete only Part 2 on additional
Forms IT-631. Place the extra forms behind the first Form IT-631.
tax purposes),
Include on line 6 of the first Form IT-631 the total of column D from
• shareholder of a New York S corporation, or
all additional Forms IT-631.
• beneficiary.
Part 3 – Beneficiary’s and fiduciary’s share of security
Specific instructions
officer training tax credit
See the instructions for your tax return for the Privacy notification or
If an estate or trust allocates or assigns the credit to its beneficiaries,
base the division on each beneficiary’s proportionate share of the
if you need help contacting the Tax Department.
income of the estate or trust.
Individual (including sole proprietor) and partnership:
Enter the line 3 amount on the Total line, column C. Provide your
Complete Part 1, line A, and lines 1 through 5.
beneficiaries with their proportionate amount of the credit.
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