Form Ct-602 - Claim For Ez Capital Tax Credit - 2014
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1
2New York State Department of Taxation and Finance
CT-602
Claim for EZ Capital Tax Credit
Tax Law – Articles 9-A, 32, and 33
All filers must enter tax period:
Attach a copy of Empire State Development Corporation
Form Z10, Eligibility to Apply for a Zone Capital Tax Credit.
beginning
ending
Legal name of corporation filing the franchise tax return
Employer identification number (EIN)
(as shown on page 1 of your tax return)
File with corporation franchise tax return Form CT-3, CT-3-A, CT-3-S, CT-32, CT-32-A, CT-32-S, CT-33, CT-33-A, or
CT-33-NL. See Form CT-602-I, Instructions for Form CT-602.
. ..............................
A
Mark an X in the box if you are claiming this credit as a corporate partner
A
(see instructions)
Schedule A – Monetary contributions to EZ community development projects
(see instructions)
A
B
C
Name of community development project
Location of zone
Amount of monetary contributions
T otal from additional sheet(s) attached ............................................................................................................
1 Total amount of contributions to EZ community development projects
.........
1
(add column C amounts)
.25
2 Credit rate 25% ...................................................................................................................................
2
3 EZ capital tax credit
.......................................................................................
3
(multiply line 1 by line 2)
4 Credit from partnership(s) from contributions to EZ community development projects
4
(see instructions)
5 Total credit from monetary contributions
...................
5
(add lines 3 and 4; S corporations: see instructions)
Schedule B – Limitations of EZ capital tax credit
(New York S corporations do not complete Schedule B)
Part 1 – Fifty percent limitation
6 Tax from Form CT-3, line 78; Form CT-3-A, line 77; Form CT-32, line 5; Form CT-32-A, line 5; Form CT-33,
lesser of line 9a or line 10; Form CT-33-A, lesser of line 10 or line 14; or Form CT-33-NL, line 5 .........
6
7 Enter 50% (.5) of line 6 .....................................................................................................................
7
Part 2 – Lifetime limitation for monetary contributions to community development projects
8 Limitations per Article 9-A section 210.20(a); Article 32 section 1456(d)(1); and
Article 33 section 1511(h)(1) ............................................................................................................
8
100,000 00
9 EZ capital tax credit previously allowed, less any previous recapture
.....................
9
(see instructions)
10 EZ capital tax credit still allowable
. .....................................
10
(subtract line 9 from line 8; see instructions)
11 EZ capital tax credit allowable this year
11
(enter the amount from either line 5 or line 10, whichever is less)
Part 3 – Tax on minimum taxable income/fixed dollar minimum limitation
12 Tax due before credits
. ............................................................................................... 12
(see instructions)
13 Credits claimed before the EZ capital tax credit
......................................................
13
(see instructions)
........................................................................................... 14
14 Balance of tax
(subtract line 13 from line 12)
15 Tax on minimum taxable income or fixed dollar minimum (Form CT-3, line 81; Form CT-3-A, line 80;
Form CT-32, line 4; Form CT-32-A, line 4; Form CT-33, line 4; Form CT-33-A, line 4; or
Form CT-33-NL, line 4) ..................................................................................................................... 15
.......................................................................................
16 Credit limitation
(subtract line 15 from line 14)
16
(continued)
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