New York State Department of Taxation and Finance
Instructions for Form CT-631
For tax years beginning on or after January 1, 2005, the Tax Law provides for a security officer training tax credit for qualified building owners employing qualified security officers. The security officer training tax credit is available to taxpayers subject to tax under Article 22 (personal income tax); Article 9 (corporation tax); Article 9-A (franchise tax on business corporations); Article 32 (franchise tax on banking corporations); or Article 33 (franchise taxes on insurance corporations). Taxpayers subject to tax under Article 9, 9-A, 32, or 33, should complete Form CT-631. Taxpayers subject to tax under Article 22 should complete Form IT-631, Claim for Security Officer Training Tax Credit. The credit amount equals $3000 multiplied by the sum of the number of qualified security officers providing protection for a building or buildings owned by a taxpayer. In the case of a qualified security officer not employed for a full year, the amount of the credit is prorated to reflect the length of employment. Any unused amount of credit for the current tax year is treated as an overpayment to be credited to next year's tax or refunded without interest. The amount of credit allowed for the current tax year is allocated by the New York State Office of Homeland Security. For rules and regulations regarding the credit, access the New York State Office of Homeland Security Web site at www.security.state.ny.us. The credit may not reduce the tax to less than the following: · TheapplicableminimumtaxfixedbyArticle9section183or185 · Thehigherofthetaxonminimumtaxableincomebaseorfixed dollar minimum under Article 9-A · $250underArticle32orArticle33 The credit is not allowed against the metropolitan transportation business tax (MTA surcharge) under Article 9, 9-A, 32, or 33.
Claim for Security Officer Training Tax Credit
Tax Law -- Sections 26, 187-n, 210.37, 1456(t), and 1511(x)
A taxpayer filing a combined return as a member of a combined group is allowed to claim the security officer training tax credit. The security officer training tax credit is computed on a separate basis, but is applied against the combined tax.
Part 1 -- Computation of security officer training tax credit
New York S Corporations: complete only lines A, 1, 2 and 3. Transfer the line 3 amount to the applicable line of Form CT-34-SH. Line 1 -- Enter the amount shown on your certificate of tax credit issued by the New York State Office of Homeland Security. Complete a separate Form CT-631 for each certificate and attach a copy of the certificate to the form. Line 2 -- Obtain this amount from the partnership(s) allocating this credit to you. Also complete Part 3, Partnership information.
Part 2 -- Computation of security officer training tax credit used (New York S corporations do not complete this part)
Section 1 Franchise tax return filed Forms CT-183 and CT-184 Form CT-185 Form CT-186 Form CT-3 Form CT-3-A Form CT-32 Form CT-32-A Form CT-33 Form CT-33-A Form CT-33-NL Section 2 Tax return filed Form CT-186-E Form CT-186-EZ Form CT-186-P
Lines 4 and 7 entries table
Enter on line 4 the amount from Form CT-183, line 4 plus Form CT-184, line 3 or 4 Line 6 Line 5 Line 78 Line 77 Line 5 Line 5 Line 11 Line 15 Line 5 Enter on line 4 the amount from Line 39 plus line 88 Line 24 Line 4 Enter on line 7 the amount below 75 10 0 Line 81 amount Line 80 amount 250 250 250 The result of adding line 4 and line 12 250 Enter on line 7 the amount below 0 0 0
If you are a corporate partner who has the security officer training tax credit passed through to you from a partnership, enter your pro rata share of the security officer training tax credit passed through to you from the partnership on line 2. Also enter the name, employer identification number (EIN), and the share of the credit for each partnership in Part 3. Enter on line 1 only the amount of the security officer training tax credit allocated to your corporation by the New York State Office of Homeland Security.
New York S corporations
New York S corporations will calculate an amount of security officer training tax credit. However, the S corporation may not use the security officer training tax credit against its own tax liability; instead, the credit is passed through to the shareholders to use against their personal income tax liabilities on their New York State tax returns. New York S corporations complete only lines A, 1, 2 and 3. Include the line 3 amount on Form CT-34-SH, New York S Corporation Shareholders' Information Schedule, which is filed with your New York State S corporation tax return. Attach a copy of Form CT-631 to your Form CT-3-S or CT-32-S. Provide all shareholders with the amount of their pro rata share of the security officer training tax credit calculated. The shareholders will file their own Form IT-631 to claim the credit on their New York State personal income tax returns.
Line 4 -- Enter your tax before credits using the Lines 4 and 7 entries table. The security officer training tax credit can be applied to the taxes as computed on the forms listed in Lines 4 and 7 entries table. However, the credit cannot be applied against both a franchise tax return listed in Section 1 and a tax return listed in Section 2. Line 5 -- If you are claiming more than one tax credit for this year, enter the total amount of credits claimed before applying this credit. Otherwise, enter 0. You must apply certain credits before the security officer training tax credit. See the instructions for your franchise tax return to determine the order of credits that applies. Article 9-A filers: For the order of credits, see Form CT-600-I, Instructions for Form CT-600, Ordering of Corporation Tax Credits.
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If you are included in a combined return, include any amount of tax credit(s), including the security officer training tax credit, being claimed by other members of the combined group that you wish to apply before your security officer training tax credit. Life insurance corporations: do not enter on this line any amount of empire zone (EZ) wage tax credit, zone equivalent area (ZEA) wage tax credit, or EZ capital tax credit you may be claiming. If you are included in a combined return, do not include any amount of these credits being claimed by other members of the combined group. Line 7 -- Enter the amount using the Lines 4 and 7 entries table. Lines 10, 11, and 12 -- Any unused amount of tax credits may be refunded or applied as an overpayment to the following year's tax. Transfer the amounts from lines 11 and 12 to your franchise tax return.
Internet access: www.nystax.gov (for information, forms, and publications) Fax-on-demand forms: Forms are available 24 hours a day, 7 days a week. 1 800 748-3676 Telephone assistance is available from 8:00 A.M. to 5:00 P.M. (eastern time), Monday through Friday. To order forms and publications: 1 800 462-8100 Corporation Tax Information Center: 1 888 698-2908 From areas outside the U.S. and outside Canada: (518) 485-6800 Text Telephone (TTY) Hotline (for persons with hearing and speech disabilities using a TTY): If you have access to a TTY, contact us at 1 800 634-2110. If you do not own a TTY, check with independent living centers or community action programs to find out where machines are available for public use. Persons with disabilities: In compliance with the Americans with Disabilities Act, we will ensure that our lobbies, offices, meeting rooms, and other facilities are accessible to persons with disabilities. If you have questions about special accommodations for persons with disabilities, please call 1 800 972-1233.
Part 3 -- Partnership information
Only complete Part 3 if you were a partner in a partnership and received a pro rata share of the security officer training tax credit from that entity. Enter the name, EIN, and credit amount passed through to you from each partnership.