Free Form CT-605 - 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-605, Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit for the Financial Services Industry, continues below.

Staple forms here

CT-605

New York State Department of Taxation and Finance

Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit for the Financial Services Industry
Tax Law -- Sections 210.12-B and 210.12-C
All filers must enter tax period: beginning ending

Employer identification number(s) shown on page 1 of your tax return Name

File this claim with your corporation franchise tax return, Form CT-3, CT-3-S, or CT-3-A.

Name of empire zone (EZ)

Schedule A -- Eligibility and empire zone investment tax credit (EZ-ITC)
Important: If this is your first tax year, do not complete Parts 1, 2, and 3. Begin with Part 4.
Part 1 -- 80% current-year test (see instructions) Computation of percentage of administrative and support employees in New York State for the current tax year Current tax year Number of administrative and support employees in New York State March 31 June 30 September 30 December 31 Total

1a Average number of administrative and support employees in New York State (divide Total column by four; carry the result to two decimal places, but do not round) ........................................................................................... Number of administrative and support employees everywhere 1b Average number of administrative and support employees everywhere (divide Total column by four; carry the result to two decimal places, but do not round) ................................................................................................... 2 Percentage of administrative and support employees in New York State (divide line 1a by line 1b; carry the result to two decimal places, but do not round) ..................................................................................................................... Does the percentage on line 2 equal or exceed 80%? ............................................................................................Yes If Yes, skip Parts 2 and 3, and continue with Part 4. If No, you do not qualify using the current-year test. Part 2 -- 95% three-year back-office test (see instructions) Computation of average number of administrative and support employees in New York State for the current tax year and three-year test period Current tax year March 31 June 30 September 30 December 31 Total Number of administrative and support employees in New York State 3a Average number of administrative and support employees in New York State for current tax year (carry the result to two decimal places, but do not round) .......................................................................................... Number of administrative and support employees in New York State during three-year test period A. First year B. Second year C. Third year D. Total number of administrative and support employees in New York State for three-year test period (add Total column lines A, B, and C) ................................................................. 3b Average number of administrative and support employees in New York State for three-year test period (carry the result to two decimal places, but do not round) .......................................................................................... 4 Percentage of employment for administrative and support employees in New York State (divide line 3a by line 3b; carry the result to two decimal places, but do not round) ....................................................... Does the percentage on line 4 equal or exceed 95%? ............................................................................................Yes If Yes, skip Part 3 and continue with Part 4. If No, you do not qualify using the three-year back-office test. March 31 June 30 September 30 December 31 Total

1a.

1b. 2. No %

3a.

3b. 4.

% No

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CT-605 (2008)

Part 3 -- 90% end-of-year test (see instructions) Computation of percentage of employees in New York State for the current tax year September 30 December 31 Total Current tax year March 31 June 30 Number of employees in New York State 5a Average number of employees in New York State during the current tax year (divide Total column by four) ........... 5b Number of employees in New York State on the last day of your first tax year in which you were subject to tax in New York State (taxpayers subject to tax in 1998, see instructions) ................................................................ 6 Percentage of employees in New York State for the current tax year (divide line 5a by line 5b) .............................. Does the percentage on line 6 equal or exceed 90%? ............................................................................................Yes If Yes, continue with Part 4. If No, you do not qualify using the 90% end-of-year test. Part 4 -- EZ-ITC (see instructions) Property located in EZ on which EZ-ITC is claimed (attach additional sheets if necessary)
A Itemized description of property B Principal use C Date acquired D Life (years) E Cost or other basis

5a. 5b. 6. No %

Amount from attached sheets........................................................................................................................................
Column E total 7a EZ-ITC for corporate franchise tax (add column E amounts and multiply by 10% (0.10); enter the result here and on line 13) ...................................................... × 0.10 =

7a. 7b.

7b EZ-ITC for New York S corporations (add column E amounts and multiply by 8% (0.08); enter the result here and on line 13) ......................................................

Column E total

× 0.08 =

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Schedule B -- EZ-EIC
Part 1 -- Employment information required to determine eligibility for EZ-EIC (see instructions) A B C D E F Total A Information in conjunction with columns Year March 31 June 30 September 30 December 31 Schedule B, Part 2, line a (B + C + D + E) Number of employees in EZ for current tax year Number of employees in EZ for employment base year B Information in conjunction with Schedule B, Part 2, line b Number of employees in EZ for current tax year Number of employees in EZ for employment base year C Information in conjunction with Schedule B, Part 2, line c Number of employees in EZ for current tax year Number of employees in EZ for employment base year
Year March 31 June 30 September 30 December 31
(B + C + D + E)

G
Average
(see instructions)

H
Percent *

Year

March 31

June 30

September 30 December 31

(B + C + D + E)

Total columns

Average
(see instructions)

Percent *

Total columns

Average
(see instructions)

Percent *

* Divide the average number of employees in the current tax year by the average number of employees in base year (column G).
Carry the result to two decimal places, but do not round. Part 2 -- Computation of EZ-EIC (see instructions) A
Tax year in which EZ-ITC was allowed

B
Amount of original EZ-ITC

C
EZ-EIC (multiply column B by 30% (.30))

a b c 8 Total -- Enter column C total here and on line 18 .............................................. 8.

Schedule C -- Computation of recapture of EZ-ITC and EZ-EIC (attach additional sheets if necessary)
A
Description of property

B
Date acquired

C
Date property ceased to qualify

D

E

F

G
EZ-ITC allowed (see instructions)

H
Recaptured EZ-ITC (F × G)

I
Recaptured EZ-EIC (see instructions)

Life Unused Percentage (months) life (E ÷ D) (months)

Amounts from attached sheets ............................................................................................. 9 Recaptured EZ-ITC (add column H amounts) .......................................................... 9. 10 Recaptured EZ-EIC (add column I amounts; enter here and on line 21) ................................. 10. 11 Augmented recapture amount (see instructions) .................................................... 11. 12 Add lines 9 and 11; enter total here and on line 16 .............................................. 12.

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Schedule D -- Part 1 -- Computation of EZ-ITC
13 EZ-ITC from line 7a or 7b ..................................................................................................................... 14 Unused EZ-ITC from preceding period ................................................................................................ 15 Total (add lines 13 and 14) ..................................................................................................................... 16 Recapture of EZ-ITC (from line 12) ....................................................................................................... 17 Net EZ-ITC or addback (see instructions) ............................................................................................... Part 2 -- Computation of EZ-EIC (see instructions) 18 EZ-EIC from line 8 ................................................................................................................................ 19 Unused EZ-EIC from preceding period ................................................................................................ 20 Total (add lines 18 and 19) ..................................................................................................................... 21 Recapture of EZ-EIC (from line 10) ....................................................................................................... 22 Net EZ-EIC or addback (see instructions) .............................................................................................. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22.

Schedule E -- Part 1 -- Computation of EZ-EIC and EZ-ITC used (New York C corporations only)
Column A EZ-EIC 23 Tax before credits (from your franchise tax return), minus all credits claimed before the EZ-EIC (Column A) or before the EZ-ITC (Column B) (see instructions) .......................................... 24 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 or CT-3-A) .................................................................... 25 Enter in Column A the fixed dollar minimum tax (from Form CT-3 or CT-3-A) ................................................................................................ 26 EZ credit limitation (Column A: subtract line 25 from line 23; Column B: subtract line 24 from line 23) ................................................. 27 EZ credit used this period (Column A: enter the lesser of line 22 or Column A, line 26; Column B: enter the lesser of line 17 or Column B, line 26) ...................... 28 Total EZ-EIC and EZ-ITC used this period (add line 27, Columns A and B; transfer this amount to your franchise tax return) ...................................................................................... Part 2 -- Credits available for refund or carryforward (New York C corporations only) 29 Net EZ-ITC from line 17 (if line 17 is zero or less, enter 0 here and on line 31) ............................................. 30 EZ-ITC used from line 27, Column B ................................................................................................... 31 EZ-ITC available for carryforward (subtract line 30 from line 29) .............................................................. 32 Qualified or new businesses only: EZ-ITC available for refund (see instructions) ............................. 33 Qualified or new businesses only: Amount of line 32 to be refunded (see instructions) ..................... 34 Qualified or new businesses only: Amount of line 32 to be applied as an overpayment to next year's tax (subtract line 33 from line 32; see instructions) ................................................................. 35 EZ-ITC available for carryforward after refund (see instructions) ............................................................ 36 Net EZ-EIC from line 22 (if line 22 is zero or less, enter 0) ......................................................................... 37 EZ-EIC used from line 27, Column A ................................................................................................... 38 EZ-EIC available for carryforward (subtract line 37 from line 36) ............................................................. 39 Qualified businesses only: EZ-EIC available for refund (see instructions) .......................................... 40 Qualified businesses only: Amount of line 39 to be refunded (see instructions) ................................. 41 Qualified businesses only: Amount of line 39 to be applied as an overpayment to next year's tax (subtract line 40 from line 39; see instructions) ................................................................................... 42 EZ-EIC available for carryforward after refund (see instructions) ............................................................ Column B EZ-ITC

29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42.

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