Free CT-601 - New York


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Please Note: Recent legislation requires all taxpayers filing this form to attach a retention certificate issued by Empire State Development. See TSB-M-09(5)C, (4)I, Legislative Changes to the Empire Zones Program, for details. Form CT-601, Claim for EZ Wage Tax Credit, continues below.

Staple forms here

CT-601

New York State Department of Taxation and Finance

Claim for EZ Wage Tax Credit
Tax Law -- Sections 187-m, 210.19, 1456(e), and 1511(g)
All filers must enter tax period: beginning ending

Taxpayer identification number(s) shown on the front page of your tax return Name

Name of empire zone (EZ)

Date of EZ designation (see instructions)

File this claim with your 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, CT-33-NL, or CT-185.

Mark an X in the appropriate box to indicate the tax year for which the EZ wage tax credit is being claimed on this return ........................................................................ 1st

2nd

3rd

4th

5th

Mark an X in the box if you are a Clean Energy Enterprise (CEE) certified under General Municipal Law Article 18-B .........................

Schedule A -- Eligibility requirements -- You must meet all three eligibility requirements below by answering Yes to the three questions in Schedule A before computing the EZ wage tax credit for the current tax year in Schedule B (see instructions).
Part 1 -- Payment of EZ wages for the current tax year 1 Were EZ wages paid during the current tax year to full-time employees in jobs created in an EZ? ........................ Yes No

If you answered Yes to the question above, complete Part 2. If you answered No, you cannot compute a credit for the current tax year. If you have any available EZ wage tax credit carryover from a preceding tax year, go to Schedule C. If you have any EZ wage tax credit passed through to you from a partnership go to line 19. Part 2 -- Computation of average number of full-time employees in New York State for the current tax year and four-year base period Current tax year Number of full-time employees in New York State 2 March 31 June 30 September 30 December 31 Total

Average number of full-time employees in New York State for current tax year (do not round) ...........

2.

Number of full-time employees in New York State during four-year base period March 31 June 30 September 30 December 31 First year Second year Third year Fourth year Total number of full-time employees in New York State for four-year base period ............................................ 3. 3 Average number of full-time employees in New York State for four-year base period (do not round) ....

Total

Does the average number of full-time employees on line 2 exceed the average number of full-time employees on line 3? .......................................................................................................................................... Yes

No

If you answered Yes to the question above, complete Part 3. If you answered No, you cannot compute a credit for the current tax year. If you have any available EZ wage tax credit carryover from a preceding tax year, go to Schedule C. If you have any EZ wage tax credit passed through to you from a partnership go to line 19. CEEs see instructions.

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Part 3 -- Computation of average number of full-time employees in the EZ for the current tax year and four-year base period
(CEEs do not complete this part)

Current tax year March 31 June 30 September 30 December 31 Total Number of full-time employees in EZ 4 Average number of full-time employees in the EZ for current tax year (do not round) ........................ 4. Number of full-time employees in EZ during four-year base period March 31 June 30 September 30 December 31 Total First year Second year Third year Fourth year Total number of full-time employees in the EZ for four-year base period .......................................................... 5 Average number of full-time employees in the EZ for four-year base period (do not round)................ 5. Does the average number of full-time employees on line 4 exceed the average number of full-time employees on line 5? ............................................................................................... Yes No If you answered Yes to the question above, go to Schedule B to calculate the credit for the current tax year. If you answered No, you cannot compute a credit for the current tax year. If you have any available EZ wage tax credit carryover from a preceding tax year, go to Schedule C. If you have an EZ wage tax credit passed through to you from a partnership go to line 19.

Schedule B Computation of EZ wage tax credit for the current tax year
Enter the number of full-time employees (including full-time equivalents, but excluding general executive officers) that were employed in the zone as of the zone designation date. .......................................................................... Part 1 -- Computation of EZ wage tax credit for qualified targeted employees (see instructions) Current tax year March 31 June 30 September 30 December 31 Total Number of qualified targeted employees 6 Average number of qualified targeted employees (round to two decimal places; do not round to whole number) 6. 7 Wage tax credit per employee ............................................................................................................. 7. 3,000.00 8 Amount of EZ wage tax credit for qualified targeted employees (multiply line 6 by line 7) .................... 8. List below the name and social security number of each employee included in the computation of the EZ wage tax credit on line 8 (qualified targeted employees). Attach Form ES-450B for each employee listed here. (Attach additional sheets if necessary.) Employee's name Social security number Employee's name Social security number

Part 2 -- For taxpayers certified in an investment zone (IZ); Computation of EZ wage tax credit for qualified targeted employees who received wages in excess of $40,000 for the tax year (see instructions) Current tax year March 31 June 30 September 30 December 31 Total Number of qualified targeted employees 9 Average number of qualified targeted employees (round to two decimal places; do not round to whole number) 9. 10 Wage tax credit for each employee ..................................................................................................... 10. 3,500.00 11 Amount of EZ wage tax credit for qualified targeted employees (multiply line 9 by line 10) .................. 11. List below the name and social security number of each employee included in the computation of the EZ wage tax credit on line 11 (qualified targeted employees). Attach Form ES-450B for each employee listed here. (Attach additional sheets if necessary.) Employee's name Social security number Employee's name Social security number

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Part 3 -- Computation of EZ wage tax credit for qualified employees not included in Schedule B, Parts 1 or 2 (see instructions) Current tax year March 31 June 30 September 30 December 31 Total Number of qualified employees 12 Average number of qualified employees (round to two decimal places; do not round to whole number) ..... 12. 1,500.00 13 Wage tax credit per employee ............................................................................................................. 13. 14 Amount of EZ wage tax credit for qualified employees (multiply line 12 by line 13) .............................. 14. List below the name and social security number of each employee included in the computation of the EZ wage tax credit on line 14. (Attach additional sheets if necessary.) Employee's name Social security number Employee's name Social security number

Part 4 -- For taxpayers certified in an IZ; Computation of EZ wage tax credit for qualified employees not included in Schedule B, Part 1 or 2 who received wages in excess of $40,000 for the tax year (see instructions) Current tax year March 31 June 30 September 30 December 31 Total Number of qualified employees 15 Average number of qualified employees (round to two decimal places; do not round to whole number) ..... 15. 16 Wage tax credit per employee ............................................................................................................. 16. 2,000.00 17 Amount of EZ wage tax credit for qualified employees (multiply line 15 by line 16) .............................. 17. List below the name and social security number of each employee included in the computation of the EZ wage tax credit on line 17. (Attach additional sheets if necessary.) Employee's name Social security number Employee's name Social security number

Part 5 -- Computation of EZ wage tax credit for the current tax year (see instructions) 18 EZ wage tax credit for the current tax year (add lines 8, 11, 14, and 17) .................................................. 19 EZ wage tax credit from partnerships (enter here and complete Part 6) .................................................... 20 Total EZ wage tax credit for current tax year (add lines 18 and 19; enter here and on line 22) ...................... Part 6 -- Partnership information (attach additional sheets if necessary)
Name of partnership Taxpayer ID

18. 19. 20.
Amount of credit

Schedule C -- Amount of EZ wage tax credit available for the current tax year (see instructions)
21 EZ wage tax credit carryforward from preceding tax year ................................................................. 22 EZ wage tax credit computed for the current tax year from line 20 ................................................... 23 EZ wage tax credit available for current tax year (add lines 21 and 22) ............................................... 21. 22. 23.

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Schedule D -- Application of EZ wage tax credit for the current tax year (see instructions)
Part 1 -- Computation of 50% limitation 24 Current year's tax (see instructions) ..................................................................................................... 25 Fifty percent limitation (see instructions) .............................................................................................. Taxpayers claiming wage tax credits in multiple EZs and ZEAs must complete Schedule F. Part 2 -- Computation of tax limitation 26 Current year's tax (enter amount from line 24; Form CT-33 and CT-33-A filers see instructions) ..................... 27 Credits claimed before the EZ wage tax credit (see instructions) ........................................................ 28 Net tax (subtract line 27 from line 26)....................................................................................................... 29 Enter appropriate tax: Article 9 -- enter 10 Article 9-A -- enter the tax on minimum taxable income or fixed dollar minimum tax (whichever is greater) Article 32 -- enter the fixed minimum tax of 250 Article 33 -- enter 250 ...................................................................................................................... 30 EZ wage tax credit limitation (subtract line 29 from line 28) ................................................................... 31 EZ wage tax credit limitation for current tax year (enter the lesser of line 25 or line 30 amount) ............. Part 3 -- Computation of EZ wage tax credit used for the current tax year 32 EZ wage tax credit used for current tax year (enter the lesser of line 23 or line 31 amount here and on your franchise tax return) .................................................................................................................. Part 4 -- Computation of EZ wage tax credit carryforward 33 EZ wage tax credit available as carryforward (subtract line 32 from line 23; see instructions) ................. 24. 25.

26. 27. 28.

29. 30. 31.

32. 33.

Schedule E -- Computation of refundable EZ wage tax credit (Article 9, section 185 and Article 9-A only; see instructions)
34 Qualified or new businesses only: EZ wage tax credit available for refund (see instructions) ............. 35 Refund percentage (50%) .................................................................................................................... 36a Qualified or new businesses only: EZ wage tax credit available for refund (multiply line 34 by line 35) 36b Qualified or new businesses only: EZ wage tax credit on line 36a to be refunded ........................... 36c Qualified or new businesses only: EZ wage tax credit on line 36a to be applied as an overpayment to next year's tax (subtract line 36b from 36a) ................................................................................... 37 EZ wage tax credit available to be carried forward (subtract line 36a from line 33) ............................... 34. 35. 36a. 36b. 36c. 37. .5

Schedule F -- Computation of 50% limitation for multiple wage tax credit claims (see instructions)
Part 1 -- Computation of 50% limitation 38 Current year's tax (from line 24) ............................................................................................................ 38. 39 Fifty percent limitation (multiply line 38 by 50% (.5)) ............................................................................... 39. Part 2 -- Unused EZ wage tax credit 50% limitation
A B Amount of EZ and ZEA wage tax credits applied prior to this credit Zone name Fifty percent limitation
(from line 39)

C Unused EZ and ZEA wage tax credit 50% limitation
(column A amount column B Total amount used)

Amount of credit

Total amount used 40 Unused EZ wage tax credit limitation (subtract column B total from column A; enter here and on line 25) ... 40.

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