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New York Free Printable Form CT-242 Claim for Conservation Easement Tax Credit Tax Year 2023 for 2024 New York Claim for Conservation Easement Tax Credit

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Claim for Conservation Easement Tax Credit
Form CT-242 Claim for Conservation Easement Tax Credit Tax Year 2023

CT-242 Department of Taxation and Finance Claim for Conservation Easement Tax Credit Tax Law – Article 9-A, Section 210-B.22 All filers must enter tax period: beginning Legal name of corporation ending Employer identification number (EIN) File this form with Form CT-3 or CT-3-A Part 1 – Computation of credit (see instructions) For each conservation easement, complete the columns in the table below. If additional sheets are necessary, use the format below for reporting the information. Conservation easement 1 A B C D E (Allocated) allowable Multiply column A Other real property Subtract column C Enter the lesser of real property taxes by 25% (0.25) tax credits from column A column B or column D 2 3 4 Total from additional sheet(s), if any................................................................................................................. 1 Total of column E amounts................................................................................................................. 1 2 Credit allocated from partnerships (partners in a partnership enter amount from line 14).......................... 2 3 Total conservation easement tax credit before limitation (add lines 1 and 2)........................................ 3 4 Conservation easement tax credit after limitation (enter the lesser of line 3 or $5,000).......................... 4 Part 2 – Application of credit 5 6 7 8 9 10 11 12 13 Tax due before credits (see instructions)................................................................................................ Tax credits claimed before the conservation easement tax credit (see instructions)............................ Subtract line 6 from line 5.................................................................................................................... Fixed dollar minimum tax (see instructions)............................................................................................ Tax credit after limitation (subtract line 8 from line 7; if zero or less, enter 0)............................................. Conservation easement tax credit to be used this period (see instructions)......................................... Unused conservation easement tax credit available for refund (subtract line 10 from line 4). ............... Amount of line 11 you want refunded (see instructions)....................................................................... Amount of line 11 you want applied as an overpayment to next year’s tax (subtract line 12 from   line 11; see instructions). .................................................................................................................... 5 6 7 8 9 10 11 12 13 A If you are claiming this credit as a corporate partner, mark an X in the box . .................................................................................. 526001230094 Page 2 of 2 CT-242 (2023) Part 3 – Partnership information If you were a partner in a partnership and received a share of the conservation easement tax credit from that entity, complete the following information for each partnership. If you need more space, attach additional sheets using the format below. Enter the total from additional sheets (if applicable) on the appropriate line. Name of partnership Partnership’s EIN Credit amount allocated Total from additional sheet(s), if any ................................................................................................................. 14 Total credit amount allocated from partnerships (enter here and on line 2).......................................... 14 Part 4 – Conservation easement identifying information (attach additional sheets if necessary; see instructions) Conservation Conservation easement information easement Address 1 Recording information Date of conveyance (mm-dd-yyyy) DEC identification number Address 2 Recording information Address Recording information Address Recording information CE Name of conservation agency Date of conveyance (mm-dd-yyyy) DEC identification number 526002230094 CE Name of conservation agency Date of conveyance (mm-dd-yyyy) DEC identification number 4 CE Name of conservation agency Date of conveyance (mm-dd-yyyy) DEC identification number 3 Name of conservation agency CE
Extracted from PDF file 2023-new-york-form-ct-242.pdf, last modified September 2023

More about the New York Form CT-242 Corporate Income Tax Tax Credit TY 2023

We last updated the Claim for Conservation Easement Tax Credit in January 2024, so this is the latest version of Form CT-242, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-242 directly from TaxFormFinder. You can print other New York tax forms here.

Other New York Corporate Income Tax Forms:

TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IT-204-LL Partnership, Limited Liability Company, and Limited Liability Partnership Filing Fee Payment Form
Form CT-3M/4M General Business Corporation MTA Surcharge Return (Obsolete)
Form IT-205 Fiduciary Income Tax Return
Form IT-204 Partnership Tax Return
Form CT-6 Election by a Federal S Corporation to be Treated As a New York S Corporation

Download all NY tax forms View all 272 New York Income Tax Forms


Form Sources:

New York usually releases forms for the current tax year between January and April. We last updated New York Form CT-242 from the Department of Taxation and Finance in January 2024.

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Form CT-242 is a New York Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of New York Form CT-242

We have a total of thirteen past-year versions of Form CT-242 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form CT-242

Form CT-242 Claim for Conservation Easement Tax Credit Tax Year 2023

2022 Form CT-242

Form CT-242 Claim for Conservation Easement Tax Credit Tax Year 2022

2021 Form CT-242

Form CT-242 Claim for Conservation Easement Tax Credit Tax Year 2021

2020 Form CT-242

Form IT-242 Claim for Conservation Easement Tax Credit Tax Year 2020

2019 Form CT-242

Form IT-242:2019:Claim for Conservation Easement Tax Credit:it242

2018 Form CT-242

Form IT-242:2018:Claim for Conservation Easement Tax Credit:it242

2017 Form CT-242

Form IT-242:2017:Claim for Conservation Easement Tax Credit:it242

2016 Form CT-242

Form IT-242:2016:Claim for Conservation Easement Tax Credit:it242

2015 Form CT-242

Form CT-242:2015:Claim for Conservation Easement Tax Credit:ct242

Claim for Conservation Easement Tax Credit 2014 Form CT-242

Form CT-242:2014:Claim for Conservation Easement Tax Credit:ct242

Claim for Conservation Easement Tax Credit 2013 Form CT-242

Form CT-242:2013:Claim for Conservation Easement Tax Credit:ct242

2012 Form CT-242

Form CT-242:2012:Claim for Conservation Easement Tax Credit:ct242

2011 Form CT-242

Form CT-242:2011:Claim for Conservation Easement Tax Credit:CT242


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