Home
Forms Library
Form DTF-625: (10 06): Low-Income Housing Credit Allocation and - tax ny

Form DTF-625: (10 06): Low-Income Housing Credit Allocation and - tax ny 2025

Form DTF-625: (10 06): Low-Income Housing Credit Allocation and - tax ny Preview on Page 1

See details

4.7 out of 5

59 votes

The document DTF-625 is a form issued by the New York State Department of Taxation and Finance for the allocation and certification of the Low-Income Housing Credit. It includes sections for the allocation of credit by the Division of Housing and Community Renewal, as well as first-year certification by building owners. The form requires information about the property, including its address, owner details, credit amounts, and compliance with relevant laws. It also outlines various elections related to tax credits and filing instructions.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

The best way to modify Form DTF-625: (10 06): Low-Income Housing Credit Allocation and - tax ny in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Adjusting paperwork with our feature-rich and intuitive PDF editor is simple. Make the steps below to complete Form DTF-625: (10 06): Low-Income Housing Credit Allocation and - tax ny online easily and quickly:

Sign in to your account. Log in with your credentials or register a free account to test the service before choosing the subscription.
Upload a form. Drag and drop the file from your device or add it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit Form DTF-625: (10 06): Low-Income Housing Credit Allocation and - tax ny. Easily add and highlight text, insert images, checkmarks, and icons, drop new fillable areas, and rearrange or delete pages from your paperwork.
Get the Form DTF-625: (10 06): Low-Income Housing Credit Allocation and - tax ny accomplished. Download your modified document, export it to the cloud, print it from the editor, or share it with other participants via a Shareable link or as an email attachment.

Take advantage of DocHub, one of the most easy-to-use editors to rapidly handle your paperwork online!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is Section 42 of the Treasury Regulations?

Section 42 provides that, for purposes of section 38, a low-income housing credit is determined for a building in an amount equal to the applicable percentage of the qualified basis of the qualified low-income building.

Who qualifies for the AZ property tax credit?

To claim the Arizona Property Tax Credit all the following must apply: You were a resident of Arizona for all of 2024. You (or your spouse) were either 65 or older or received Title 16 Supplemental Security Income (SSI) payments during 2024.

How much does the low-income housing tax credit cost?

Calculating Costs and Benefits. The Joint Committee on Taxation estimates LIHTC will cost around $13.2 billion in 2023, increasing to $15.2 billion by 2025. It is by far the largest federal program encouraging the creation of affordable rental housing for low-income households.

Who does the low-income housing tax credit give federal income taxes to?

The LIHTC gives investors a dollar-for-dollar reduction in their federal tax liability in exchange for providing financing to develop affordable rental housing. Investors equity contribution subsidizes low-income housing development, thus allowing some units to rent at below-market rates.

What is the Section 42 low-income housing tax credit?

2085 (1986 Act) created the low-income housing credit under 42 of the Code. Section 42(a) provides that the amount of the low-income housing credit for any taxable year in the credit period is an amount equal to the applicable percentage of the qualified basis of each qualified low-income building.

Related forms

be ready to get more

Complete this form in 5 minutes or less

Get form

How does section 42 work in Minnesota?

Renters living in Low Income Housing Tax Credit (LIHTC - Section 42) units pay a fixed rent amount. The rent amounts are often similar to other market rate units in the area. However, the LIHTC buildings often have much nicer amenities than market rate units renting for a similar price.

Form DTF-625: (10 06): Low-Income Housing Credit Allocation and - tax ny 2025

Here's how it works

The best way to modify Form DTF-625: (10 06): Low-Income Housing Credit Allocation and - tax ny in PDF format online

Complete this form in 5 minutes or less

Got questions?

What is Section 42 of the Treasury Regulations?

Who qualifies for the AZ property tax credit?

How much does the low-income housing tax credit cost?

Who does the low-income housing tax credit give federal income taxes to?

What is the Section 42 low-income housing tax credit?

Complete this form in 5 minutes or less

People also ask

How does section 42 work in Minnesota?

Related links

Try more PDF tools