Personal income tax forms corrections and changes for 2022 (Articles 22 and 30)

The following changes were not reflected on the forms for 2022 when they went to print.

If any of the following updates impact a tax form for which you are responsible for filing, and you have not yet filed such form, you must incorporate these updates when filing such form.

If you have already filed such form, and one of the following updates affects a calculation previously reported, you must file an amended form reflecting such update.

Select a tax form from the following list to identify the changes affecting that form. If a form is not listed, there have been no changes affecting that form.

• IT-201-I
• IT-204-I
• IT-657-I
• IT-611.2-I
• IT-212-I 
• IT-203-I

IT-201-I

1. The Printer-friendly PDF of Form IT-201-I, Instructions for Form IT-201, Full-Year Resident Income Tax Return, has been updated. If you used the Printer-friendly PDF of Form IT-201-I prior to January 12, 2023, please note the following:

On page 51 of the PDF, in each of the three New York City tax rate schedules, the tax rate percentages were rounded incorrectly. The tax percentage rates were rounded to two decimal places instead of three. This error did not affect the html version of the form instructions published on our website.

2. In the instructions for Line 77: Amount overpaid, under Collection of debts from your overpayment (offsets), the bulleted list under “We will keep all or part of your overpayment (refund) if you owe any of the following:” should read as follows (updated text in bold):

• New York State tax liability
• New York City or Yonkers personal income tax liability
• a New York City tax warrant judgment debt
• metropolitan commuter transportation mobility tax liability
• defaulted governmental education, state university, or city university loan
• past-due support
• a past-due legally enforceable debt to:
• the IRS,
• a New York State agency, or
• another state.

IT-204-I

On page 17, 2^nd column, add the following above ES-501:

ES-220   Deductions related to the production and distribution of adult-use cannabis products - See S-220 subtraction modification instruction in Form IT-225-I.

IT-657-I

Additional information added to Form IT-657-I, Instructions for Form IT-657, resulted in the following changes:

• Under Eligibility, the second bullet should read (updated text in bold):

had no more than 100 employees and had gross receipts of $2.5 million or less in the tax year that included December 31, 2021;

• Under How to claim the credit, add a new first sentence that reads:

Claim the tax credit in the taxable year that includes the date that the certificate of tax credit was issued by ESD to your business.

IT-611.2-I

The first sentence of the site preparation paragraph after the bulleted list on page 4 should read as follows (updated text in bold). Also, the exception paragraph and chart that follows the site preparation paragraph should be disregarded.

Site preparation includes all costs paid or incurred within 60 months (84 months if DEC issued the COC on or after July 1, 2015, and prior to June 25, 2021) after the last day of the tax year in which the COC is issued that are necessary for compliance with the COC or subsequent modifications thereof, or the remedial program defined in such COC including but not limited to institutional controls, engineering controls, an approved site management plan, and an environmental easement with respect to the qualified site.

IT-212-I

On page 2, column 2, under Carryover of unused investment credit, the first paragraph should read (updated text in bold):

If you cannot claim all of this year’s credit because it is more than your New York State tax less other credits, you can carry over the unused amount to the following ten years; or, if you are the owner of a new business or are a fiscal-year eligible farmer with property placed in service on or after January 1, 2023, you may qualify for a refund (see Refundable unused investment credit below).

On page 2, column 2, under Refundable unused investment credit, add the following new heading:

New business

On page 2, column 2, add the following new language after the last paragraph under Refundable unused investment credit.

Eligible farmer

Eligible farmers can claim a refund of any unused credit earned on property placed in service on or after January 1, 2023.

You cannot a claim a refund of:

• the historic barn rehabilitation credit,
• the employment incentive credit, or
• any unused credit earned on property that was placed in service prior to January 1, 2023.

These credit amounts must be applied against your tax due or carried over.

On page 5, delete “All others, enter 0" from the second paragraph of the instructions for line 37.

On page 5, the instructions for line 37 should read (updated text in bold):

If you are not a new business or a fiscal-year eligible farmer with property placed in service on or after January 1, 2023, enter 0.

New business

If you qualify as an owner of a new business, you may claim a refund of your credit instead of carrying it over to the next year. See page 2 for information about refundable investment tax credits for a new business under Refundable unused investment credit.

If you qualify as an owner of a new business, enter the amount from line 36 or line 11, whichever is less.

Enter the amount from line 37 and code 212 on Form IT-201-ATT, line 12, or Form IT-203-ATT, line 12, or include it on Form IT-205, line 33.

Eligible farmer

If you qualify as an eligible farmer and have placed property in service on or after January 1, 2023, you may claim a refund of the unused portion of the credit instead of carrying it over to the next year. See page 2 for information about the refundable investment tax credit for an eligible farmer under Refundable unused investment credit. 

You cannot claim a refund of the historic barn rehabilitation credit or the employment incentive credit. If you have earned either of these credits, directly or from a flow-through entity, and you have not already applied them against your tax due on line 35, you must subtract them when calculating the amount of your refund. If line 32a includes investment tax credits from prior periods, you will have to subtract the amount of carry over that has not been applied on line 35. Use the worksheet to calculate the amount of your current year, unused investment tax credit available for refund. Any unused historic barn rehabilitation credit, employment incentive credit or investment tax credit from prior periods can be carried over. 

Note: Only include amounts on lines 2, 3, and 4 that have not been applied against your net tax on line 35.

Enter the amount from line 37 and code 212 on Form IT-201-ATT, line 12, or Form IT-203-ATT, line 12, or include it on Form IT-205, line 33. You must also attach a separate document to your return stating that you qualify as an eligible farmer and have placed property in service on or after January 1, 2023.

IT-203-I

In the instructions for Line 67: Amount overpaid, under Collection of debts from your overpayment (offsets), the bulleted list under “We will keep all or part of your overpayment (refund) if you owe any of the following:” should read as follows (updated text in bold):

• New York State tax liability
• New York City or Yonkers personal income tax liability
• a New York City tax warrant judgment debt
• metropolitan commuter transportation mobility tax liability
• defaulted governmental education, state university, or city university loan
• past-due support
• a past-due legally enforceable debt to:
• the IRS,
• a New York State agency, or
• another state