Form IT-634: Empire State Jobs Retention Program Credit (Tax Year 2025)

Form IT-634 is how New York State businesses claim the Empire State Jobs Retention Program Credit, a tax incentive designed for companies that suffered physical damage or business interruption from a specific disaster and committed to keeping their operations — and their workforce — in New York rather than relocating. The New York State Department of Taxation and Finance administers this credit, and it applies to corporations, partnerships, and sole proprietors who were certified into the program by Empire State Development.

This isn’t a general-purpose jobs credit available to any employer. It’s tied to a formal certification process. Businesses had to apply to Empire State Development, demonstrate they were directly affected by the qualifying event, and sign a retention agreement committing to maintain a certain number of jobs in the state for a set period. Once certified, the business receives an annual credit based on factors like the number of retained jobs and the wages paid to those employees. Form IT-634 is the mechanism for actually claiming that credit on your New York tax filing each year the certification remains valid.

Who Needs to File Form IT-634

You’ll need this form only if you’re a business owner or authorized representative of a company that holds an active certificate of tax credit under the Empire State Jobs Retention Program. If your business was never certified through Empire State Development for this specific program, this form doesn’t apply to you — there’s no way to claim the credit without that prior certification. Corporations attach the form to their New York corporate franchise tax return, while partnerships and individual filers use it in conjunction with their respective income tax returns, with the credit flowing through to partners or shareholders as applicable.

It’s also worth noting that this credit is distinct from other New York economic development incentives. For example, businesses dealing with contaminated property remediation instead look at Form IT-612 for the Remediated Brownfield Credit, which serves a completely different purpose tied to property tax relief rather than job retention.

When to Use This Form

You file Form IT-634 with your annual New York State tax return for each tax year your certification allows you to claim the credit. The Empire State Jobs Retention Program typically spans multiple years, so if you were certified, you’re likely filing this form repeatedly — not just once. Each year, you’ll need to recalculate the credit amount based on your current retained employment numbers and wage data, since the credit is directly tied to maintaining the job levels specified in your agreement with Empire State Development.

If at any point your business fails to maintain the required employment levels, you may need to recapture previously claimed credit, which is also handled through this form or related recapture provisions. This makes accurate recordkeeping essential — you’ll want documentation showing employee counts and payroll figures for every year you claim the credit.

How to Get and Complete Form IT-634

The form is available as a fillable PDF directly from the New York State Department of Taxation and Finance website. Since it’s an AcroForm, you can type your information directly into the fields on your computer before printing or attaching it to your electronic filing, which cuts down on errors compared to filling it out by hand.

Before you start, gather your certificate of tax credit from Empire State Development, your employment and wage records for the tax year, and any prior-year IT-634 forms if this isn’t your first time claiming the credit — consistency across years matters for the state’s review process. The form will walk you through calculating the credit based on your specific certification terms, since the credit amount isn’t a flat rate but varies according to your agreement.

Tax situations involving multiple credits and certifications can get complicated fast, especially for businesses juggling several New York incentive programs at once. If you’re unsure how this credit interacts with other filings, or if your business also handles fiduciary returns requiring separate e-file authorization like Form FTB 8879-FID handles for California fiduciaries, it’s worth consulting a tax professional familiar with New York’s economic development credits before you file.