Free Form CT-46 - New York

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CT-46
Name

New York State Department of Taxation and Finance

Claim for Investment Tax Credit
(Includes Employment Incentive Credit)
Tax Law -- Section 210.12 and 210.12-D
beginning All filers must enter tax period: ending
Employer identification number

File this form with Form CT-3, CT-3-A, or CT-3-S. Summary of tax credit(s)
1 2 3 4 5 6 7a 7b 7c 8 9 10 Investment tax credit (from line 20) .................................................................................................... 1. Investment tax credit on research and development (R&D) property at the optional rate (from line 21) ............ 2. Retail enterprises tax credit (from Form CT-46-ATT) ........................................................................... 3. Historic barns credit (from Form CT-46-ATT) ....................................................................................... 4. Subtotal (add lines 1 through 4) ............................................................................................................. 5. Employment incentive credit (from line 28) ........................................................................................ 6. Unused investment tax credit or employment incentive credit from preceding period (New York S corporations, enter 0) ....................... 7a. Unused expired tax credits (see instructions; New York S corporations, enter 0) 7b. Subtract line 7b from line 7a ............................................................................................................. 7c. Total (add lines 5, 6, and 7c; New York S corporations, see instructions) ................................................... 8. Recapture of excess credit taken in previous periods (from line 32; New York S corporations, see instructions) 9. Net investment tax credit(s) (see instructions) .................................................................................... 10.

Computation of investment tax credit used, refunded, or carried forward (New York S corporations do not complete this section)
11 12 13 14 15 16 17 18a 18b 18c 19 Tax due before credits (from Form CT-3, or Form CT-3-A) ................... 11. Tax credits claimed before the investment tax credit (see instructions) 12. Subtract line 12 from line 11 ........................................................... 13. Tax on minimum taxable income or fixed dollar minimum, whichever amount is larger (from Form CT-3, line 81, or Form CT-3-A, line 80) ....... 14. Limitation on investment tax credit (subtract line 14 from line 13; if less than 0, enter 0) ..................................................................... 15. Investment tax credit to be used this period (enter the lesser of line 10 or line 15; transfer this amount to Form CT-3, line 100a, or Form CT-3-A, line 101a) ................................................................................ 16. Unused investment tax credit (subtract line 16 from line 10) ................................................................ 17. Qualified new businesses only: Investment tax credit available for refund (see instructions) ............. 18a. Qualified new businesses only: Amount of line 18a to be refunded (see instructions)........................ 18b. Qualified new businesses only: Amount of line 18a to be applied as an overpayment to next year's tax (subtract line 18b from line 18a; transfer this amount to your franchise tax return) .................... 18c. Unused investment tax credit available to be carried forward (see instructions) ................................ 19.

Schedule A -- Investment tax credit (Attach additional sheet(s) as necessary; see instructions)
A Description of property
(list items separately)

B Principal use

C Date acquired
(mm-dd-yy)

D Life
(years)

E Investment credit base

F G Investment tax credit Investment tax credit on R&D property (column E × standard rate;
see Rate schedule 1 in Form CT-46-I) (R&D property in column E × optional rate; see Rate schedule 1 in Form CT-46-I)

Amounts from attached list 20 Add column F amounts (enter here and on line 1) ........................................................... 20. 21 Add column G amounts (enter here and on line 2) ............................................................................................ 21.

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CT-46 (2008)

Schedule B -- Eligibility for employment incentive credit (see example in Form CT-46-I, Schedules B and C--Examples)
A. Use with Schedule C, line 26, first succeeding year 22 Number of New York State employees in employment base year 23 Number of New York State employees in current tax year B. Use with Schedule C, line 27, second succeeding year 24 Number of New York State employees in employment base year 25 Number of New York State employees in current tax year
*Divide the average number of employees in the current tax year by the average number of employees in the base year (column G). Year March 31 June 30 September 30 December 31 Total
(B+C+D+E)

A Year

B March 31

C June 30

D E September 30 December 31

F Total
(B+C+D+E)

G Average

H* Percent %

Average

Percent %

Schedule C -- Employment incentive credit computation (see example in Form CT-46-I, Schedules B and C--Examples)
A Tax year in which investment tax credit was allowed B Amount of investment credit base upon which original investment tax credit was allowed (excluding R&D property at optional rate) C Employment incentive credit
(multiply column B by the appropriate rate from Rate schedule 2 in Form CT-46-I)

26 Information for first succeeding year: use line 23, column H, to determine rate 27 Information for second succeeding year: use line 25, column H, to determine rate 28 Add column C amounts (enter here and on line 6) .............................................................................. 28.

Schedule D -- Recapture of investment tax credit, including rehabilitation expenditures for retail enterprises and historic barns
(Attach additional sheet(s) as necessary)
A Description of property B Date of acquisition or rehabilitation
(mm-dd-yy)

C Date property ceased to qualify
(mm-dd-yy)

D Life
(months)

E Unused life
(months)

F Percentage
(E ÷ D)

G Total original investment tax credit allowed

H Recaptured investment tax credit
(F × G)

29 30 31 32

Total recaptured investment tax credit from attached sheet(s) ................................................................... Recaptured investment tax credit (add column H amounts and line 29) ........................................................... Additional recapture (see instructions) ........................................................................................................... Add lines 30 and 31 (enter here and on line 9) ...............................................................................................

29. 30. 31. 32.

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