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New York State Department of Taxation and Finance

CT-600-

Instructions for Form CT-600

Ordering of Corporation Tax Credits

Tax Law — Article 9-A

– In column A, enter the amount of

Column A – Credit deducted

General information

credit deducted against the tax due for the current tax year.

This form is for taxpayers who claim multiple credits. It provides the

Column B – Credit refunded

– In column B, enter the amount of

order in which to apply tax credits and a summary of tax credits

credit to be refunded.

claimed.

Column C – Credit applied as overpayment

– In column C, enter

Transfer the credit amounts claimed to Form CT-3 or CT-3-A,

the amount of credit applied as an overpayment to next year’s tax.

whichever is applicable; attach all applicable tax credit forms.

Line instructions

Tax credits under Article 9-A must be deducted in the following

order:

Section I — Nonrefundable/noncarryover credits

1. Noncarryover credits that are not refundable

Lines 1 through 3 —

These credits are not refundable, may not

2. Empire zone (EZ) and zone equivalent area (ZEA) wage tax

be carried forward, and are applied first to maximize the beneficial

credits

effect of the credits. The credits on lines 1 through 3 can be

deducted in any order you choose.

3. Carryover credits of limited duration

4. Carryover credits of unlimited duration

Line 1 – Defibrillator credit — Enter the amount of the defibrillator

credit deducted against the tax due from Form CT-250, Claim for

5. Refundable credits (except EZ and ZEA wage tax credits)

Purchase of an Automated External Defibrillator . The defibrillator

Tax credits allowable under Article 9-A are as follows:

credit may not reduce the tax due below the greater of the

minimum taxable income (MTI) base or the fixed dollar minimum.

• Minimum tax credit (Form CT-38)

• Alternative fuels credit (Form CT-40)

Line 2 – QEZE tax reduction credit — Enter the amount of the

QEZE tax reduction credit deducted against the tax due from

• Employment of persons with disabilities credit (Form CT-41)

Form CT-604, Claim for QEZE Credit for Real Property Taxes and

• Special additional mortgage recording tax credit (Form CT-43)

QEZE Tax Reduction Credit, or Form CT-604-CP, Claim for QEZE

• Investment tax credit (ITC) for the financial services industry

Credit for Real Property Taxes and QEZE Tax Reduction Credit for

(Form CT-44)

Corporate Partners . The QEZE tax reduction credit may reduce the

tax due to the fixed dollar minimum. Note: If the taxpayer has a

• Employment incentive credit (EIC) for the financial services

100% zone allocation factor, the amount of credit may reduce the

industry (Form CT-44)

tax to zero.

• ITC (Form CT-46)

Line 3 – Servicing mortgages credit — Enter the amount of

• EIC (Form CT-46)

credit deducted against the tax due from the SONYMA letter

• Rehabilitation expenses for retail enterprises credit

approving the credit. The credit for servicing certain mortgages,

(Form CT-46-ATT)

which is available only to mortgage bankers who have a letter from

• Rehabilitation expenses for historic barns credit

SONYMA approving the credit, may reduce the tax to zero.

(Form CT-46-ATT)

Section II — EZ and ZEA wage tax credits

• Farmers’ school tax credit (Form CT-47)

Lines 4 through 7 —

These credits may not reduce the tax due

• Empire State film production credit (Form CT-248)

below the greater of the MTI base or the fixed dollar minimum. The

• Long-term care insurance credit (Form CT-249)

EZ and ZEA wage tax credits can be deducted in any order you

• Defibrillator credit (Form CT-250)

choose.

• EZ wage tax credit (Form CT-601)

Qualified new businesses

• ZEA wage tax credit (Form CT-601.1)

The EZ and ZEA wage tax credits are refundable for taxpayers that

• EZ capital tax credit (Form CT-602)

qualify as new businesses under Tax Law section 210.12(j).

• EZ-ITC (Form CT-603)

Line 4 – EZ wage tax credit — Enter the amount of the EZ wage

• EZ-EIC (Form CT-603)

tax credit deducted against the tax due from Form CT-601, Claim

• Qualified empire zone enterprise (QEZE) tax reduction credit

for EZ Wage Tax Credit. Qualified new businesses: Do not

(Form CT-604 or Form CT-604-CP)

complete line 4; instead, complete line 5.

• QEZE real property tax credit (Form CT-604 or

Line 5 – EZ wage tax credit for new businesses only

Form CT-604-CP)

– Enter the amount of the EZ wage tax credit deducted

Column A

• EZ-ITC for the financial services industry (Form CT-605)

against the tax due from Form CT-601, line 26.

• EZ-EIC for the financial services industry (Form CT-605)

Columns B and C

– Enter in the appropriate columns the amount to

• Qualified emerging technology company (QETC) employment

be refunded or applied as an overpayment against next year’s tax

credit (Form DTF-621)

from Form CT-601, line 30.

• QETC capital credit (Form DTF-622)

Line 6 – ZEA wage tax credit — Enter the amount of the

• Industrial or manufacturing business (IMB) credit

ZEA wage tax credit deducted against the tax due from

(Form DTF-623)

Form CT-601.1, Claim for ZEA Wage Tax Credit . Qualified new

• Low-income housing credit (Form DTF-624)

businesses: Do not complete line 6; instead, complete line 7.

• Green building credit (Form DTF-630)

Line 7 – ZEA wage tax credit for new businesses only

• Transportation improvement contribution credit (Form DTF-632)

Column A

– Enter the amount of the ZEA wage tax credit deducted

• Servicing mortgages credit (letter of approval from State of

against the tax due from Form CT-601.1, line 26.

New York Mortgage Agency (SONYMA))

Columns B and C

– Enter in the appropriate columns the amount to

be refunded or applied as an overpayment against next year’s tax

from Form CT-601.1, line 30.

Instructions For Form Ct-600 - Ordering Of Corporation Tax Credits - New York State Department Of Taxation And Finance - 2004

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