Free CT-603 - New York

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-603, Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit, continues below.

Staple forms here

CT-603

New York State Department of Taxation and Finance

Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit
Tax Law -- Sections 187-k, 187-l, 210.12-B, 210.12-C, 606(j), and 606(j-1)
All filers must enter tax period: beginning ending

Employer identification number (EIN) shown on the front page of your tax return Name (as shown on return)

Name of empire zone (EZ)

File this claim with your corporation franchise tax return, Form CT-3, CT-3-S, CT-3-A, or CT-185. See Form CT-603-I, Instructions for Form CT-603, for assistance in completing this form.

Schedule A
Part 1 -- Computation of EZ investment tax credit (EZ-ITC)
1 2 3 4 5 EZ-ITC from line 26a or 26b (S corporations, see instructions) ...................................................................... Unused EZ-ITC from preceding period ...................................................................................................... Total (add lines 1 and 2) ............................................................................................................................... Recapture of EZ-ITCs taken in previous periods from line 31 (New York S corporations, see instructions) ..... Net EZ-ITC or addback (see instructions) .................................................................................................... 1. 2. 3. 4. 5.

Part 2 -- Computation of EZ employment incentive credit (EZ-EIC)
6 7 8 9 10 EZ-EIC from line 27 (S corporations, see instructions) ................................................................................... Unused EZ-EIC from preceding period ..................................................................................................... Total (add lines 6 and 7) ............................................................................................................................... Recapture of EZ-EICs taken in previous periods from line 29 (New York S corporations, see instructions) ..... Net EZ-EIC or addback (see instructions) .................................................................................................... 6. 7. 8. 9. 10.

Schedule B
Part 1 -- Computation of EZ-EIC and EZ-ITC used (New York C corporations only)
A EZ-EIC B EZ-ITC

11 Franchise tax from Form CT-3, CT-3-A, or CT-185 minus all credits claimed before the EZ-EIC (column A) or before the EZ-ITC (column B) (see instructions) ........................................................... 11. 12 Enter in column B the higher of the tax on the minimum taxable income base or the fixed dollar minimum tax (from Form CT-3, line 81, or CT-3-A, line 80; CT-185 filers enter 10) ........................................................................ 12. 13 Enter in column A the fixed dollar minimum tax (from Form CT-3 or CT-3-A; CT-185 filers enter 10) ............................................................................................ 13. 14 EZ credit limitation (column A: subtract line 13 from line 11; column B: subtract line 12 from line 11) ............................................................................. 14. 15 EZ credit used this period (column A: enter the lesser of line 10 or line 14, column A; column B: enter the lesser of line 5 or line 14, column B) ...................... 15. 16 Total EZ-EIC and EZ-ITC used this period (add line 15, columns A and B; transfer this amount to the appropriate franchise tax return) ..................................................................................................................

16.

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Part 2 -- Credits available for refund or carryforward (New York C corporations only)
17 18 19 20a 20b 20c 21 22 23 24 25a 25b 25c 25d Net EZ-ITC from line 5 (if line 5 is a negative number, enter 0 here and on line 19) ............................................ EZ-ITC used from line 15, column B ......................................................................................................... EZ-ITC available for carryforward (subtract line 18 from line 17) .................................................................... Qualified or new businesses only: EZ-ITC available for refund (see instructions) ................................... Qualified or new businesses only: amount of line 20a to be refunded (transfer to franchise tax return) ...................... Qualified or new businesses only: amount of line 20a to be applied as an overpayment to next year's tax (subtract line 20b from line 20a; transfer to franchise tax return) ........................................... EZ-ITC available for carryforward after refund (see instructions) ................................................................. Net EZ-EIC from line 10 (if line 10 is a negative number, enter 0 here and on line 24) ........................................ EZ-EIC used from line 15, column A ......................................................................................................... EZ-EIC available for carryforward (subtract line 23 from line 22; see instructions) ............................................ Qualified businesses only: EZ-EIC available for refund (enter the lesser of 50% of line 6 or 50% of line 24) .... Qualified businesses only: amount of line 25a to be refunded (transfer to franchise tax return) ................. Qualified businesses only: amount of line 25a to be applied as an overpayment to next year's tax (subtract line 25b from line 25a; transfer to franchise tax return)....................................................................... EZ-EIC available for carryforward after refund (see instructions) ................................................................. 17. 18. 19. 20a. 20b. 20c. 21. 22. 23. 24. 25a. 25b. 25c. 25d.

Schedule C -- EZ-ITC (see instructions)
Property located in EZ on which EZ-ITC is claimed (attach additional sheets if necessary)
A Itemized description of property
(list items individually)

B Principal use

C Date acquired

D Life (years)

E Cost or other basis

Total from attached pages .............................................................................................................................................. Total (add column E amounts) ........................................................................................................................................... 26a EZ-ITC for corporation franchise tax (multiply total by 10% (.1); enter here and on line 1) .................................. 26a. 26b EZ-ITC for New York S corporations (multiply total by 8% (.08); enter here and on line 1) ................................... 26b.

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Schedule D -- EZ-EIC
Part 1 -- Eligibility for EZ-EIC
A
A Provide information for the tax year listed on Schedule D, Part 2, line A Number of employees in EZ for the current tax year Number of employees in EZ for employment base year B Provide information for the tax year listed on Schedule D, Part 2, line B Number of employees in EZ for the current tax year Number of employees in EZ for employment base year C Provide information for the tax year listed on Schedule D, Part 2, line C Number of employees in EZ for the current tax year Number of employees in EZ for employment base year %
Year March 31 June 30 September 30 December 31 Total Columns B-E Average
(see instructions)

B
March 31

C
June 30

D

E

F
Total Columns B-E

G
Average
(see instructions)

H
Percent *

Year

September 30 December 31

%
Year March 31 June 30 September 30 December 31 Total Columns B-E Average
(see instructions)

Percent *

%
Percent *

* Divide the average number of employees in the EZ in the current tax year by the average number of employees in base year (column G). Part 2 -- Computation of EZ-EIC
A Tax year in which EZ-ITC was allowed B Amount of original EZ-ITC C EZ-EIC (multiply column B by 30% (.3))

A B C

27 Total -- Enter column C total here and on line 6..............................................

27.

Schedule E -- Computation of recapture of EZ-ITC and EZ-EIC (see instructions; attach additional sheets if necessary)
A Description of property B Date acquired C D Date property Life ceased to (months) qualify E Unused life (months) F Percentage (E ÷ D) G EZ-ITC allowed (see instructions) H Recaptured EZ-ITC (F x G) I Recaptured EZ-EIC (see instructions)

Totals from attached pages .....................................................................................................................

28 29 30 31

Recaptured EZ-ITC (add column H amounts) .................................................................. Recaptured EZ-EIC (add column I amounts and enter result here and on line 9)..................... Augmented recapture amount (see instructions) ............................................................. Recapture of EZ-ITC (add lines 28 and 30; enter here and on line 4)...................................

28. 29. 30. 31.

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