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New York Free Printable Form CT-246 Claim for Empire State Commercial Production Credit Tax Year 2023 for 2024 New York Claim for Empire State Commercial Production Credit

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Claim for Empire State Commercial Production Credit
Form CT-246 Claim for Empire State Commercial Production Credit Tax Year 2023

CT-246 Department of Taxation and Finance Claim for Empire State Commercial Production Credit Tax Law – Article 1, Section 28 and Article 9-A, Section 210-B.23 All filers must enter tax period: beginning Legal name of corporation ending Employer identification number (EIN) Attach to Form CT-3, CT-3-A, or CT-3-S. Part 1 – Computation of commercial production credit available for use (see instructions) 1 Enter the amount of commercial production credit (see instructions) .................................................... 2 Commercial production credit from partnership(s) (from line 18).......................................................... 3 Add lines 1 and 2 (New York S corporations see instructions) .................................................................. 4 Unused commercial production credit carried over from the previous tax year ................................. 5 Total commercial production credit available in the current tax year (add lines 3 and 4) ....................... 1 2 3 4 5 Part 2 – Computation of commercial production credit used, refunded, and carried forward (see instructions; New York S corporations do not complete this part) 6 Tax due before credits (see instructions) ................................................................................................. 7 Tax credits claimed before the commercial production credit (if none, enter 0; see instructions) ............. 8 Tax after application of all other credits (subtract line 7 from line 6) .......................................................... 9 Fixed dollar minimum tax (see instructions) ............................................................................................. 10 Limitation on commercial production credit to be used this period (subtract line 9 from line 8; if line 8   is less than line 9, enter 0) ................................................................................................................... . 11 Commercial production credit to be used this year (see instructions) ................................................... 12 Subtract line 11 from line 3; if line 11 is greater than line 3, enter 0 .................................................... 13 Subtract line 11 from line 5 ................................................................................................................. 14 Amount available for carryforward (multiply line 12 by 50% (.5)) ............................................................. 15 Amount of commercial production credit available for refund (subtract line 14 from line 13) ................... 16 Amount of commercial production credit you want to be refunded (limited to the amount on line 15;   see instructions) .................................................................................................................................. 17 Amount of refundable commercial production credit you want to be applied to next year’s tax   (subtract line 16 from line 15; see instructions) .......................................................................................... 6 7 8 9 10 11 12 13 14 15 16 17 Part 3 – Partnership information (attach additional sheets as necessary) Name of partnership Partnership’s EIN Credit amount allocated Total from additional sheet(s), if any .............................................................................................................. 18 Total credit amount allocated from partnerships (enter here and on line 2) ............................................ 18 A If you are claiming this credit as a corporate partner, mark an X in the box .................................................................................... 530001230094 Page 2 of 2  CT-246 (2023) Instructions General information For tax years beginning on or after January 1, 2007, Tax Law sections 28 and 210-B.23 provide for tax credits for qualified commercial production companies. The Empire State commercial production credit (also referred to simply as the commercial production credit) is available to taxpayers subject to tax under Article 9‑A or Article 22. This form is for taxpayers subject to tax under Article 9‑A. Those subject to tax under Article 22, complete Form IT‑246, Claim for Empire State Commercial Production Credit. The credit is allowed for qualified production costs paid or incurred in the production of a qualified commercial in New York State. The credit is allowed for the tax year in which the production of the qualified commercial is completed. The credit may not reduce the tax due below the fixed dollar minimum tax. Any amount not used in the current tax year may be refunded or credited as an overpayment to next year’s tax. The refund is limited to 50% of the excess credit in the current year; the balance may be carried forward to the following tax year and may be deducted from the tax in that year. All remaining excess after application in the succeeding year may also be refunded or credited as an overpayment to the succeeding tax year. No interest will be paid on the refund. Production costs used as the basis for allowance of this credit or used in the calculation of this credit cannot be used to claim any other credit. The credit is not allowed against the metropolitan transportation business tax (MTA surcharge) under Article 9-A. The amount of credit allowed for the current tax year is allocated by the New York State Governor’s Office of Motion Picture & Television Development. Attach a copy of your certificate from that office for the credit allowed. For rules and regulations regarding the credit, contact the New York State Governor’s Office of Motion Picture & Television Development at [email protected] or call 212-803-2328. Corporate partners If you are a corporate partner who has commercial production credits passed through to you from a partnership, enter your pro rata share of the commercial production credits passed through to you from the partnership in Part 1, line 2. Also, enter the name and EIN of the partnership in Part 3. Enter on line 1 only the amount of commercial production credit allocated to your corporation by the New York State Governor’s Office of Motion Picture & Television Development. New York S corporations New York S corporations will calculate an amount of commercial production credit. However, the S corporation may not use the commercial production 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 lines 1 through 3. You must also complete Part 3 if you are receiving the credit, or a portion of the credit from a partnership. 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 corporation tax return. Attach Form CT‑246 to your Form CT‑3‑S, New York S Corporation Franchise Tax Return. Provide all shareholders with the amount of their pro rata share of the commercial production credit calculated. The shareholders will file their own Form IT‑246 to claim the credit on their New York State personal income tax returns. 530002230094 Combined filers A taxpayer filing a combined return as a member of a combined group is allowed to claim the commercial production credit. The commercial production credit is computed on a separate basis, but is applied against the combined tax. Line instructions Part 1 – Computation of commercial production credit available for use Line 1 – Obtain this amount from the New York State Governor’s Office of Motion Picture & Television Development. Attach your certificate. Line 2 – Obtain this amount from the partnership(s) allocating this credit to you. Complete Part 3, Partnership information, and mark an X in box A at the bottom of the form. Line 3 – New York S corporations: Include this amount on Form CT‑34‑SH. Line 4 – Obtain this amount from the previous tax year’s Form CT‑246. Part 2 – Computation of commercial production credit used, refunded, and carried forward (New York S corporations do not complete this part) Line 6 – Enter the amount from Form CT-3 or CT-3-A, Part 2, line 2, plus any net recaptured tax credits. Line 7 – You must apply certain credits before the commercial production credit. Refer to Form CT‑600‑I, Instructions for Form CT-600, Ordering of Corporation Tax Credits, for the proper ordering of your credits. If you are claiming more than one credit, enter the total amount of credits applied against the current year’s corporation franchise tax before the commercial production credit. If the commercial production credit is the only credit that is being applied against the current year’s corporation franchise tax, enter 0. If filing as a member of a combined group, include any amount of tax credit(s), including the commercial production credit(s), being claimed by other members of the combined group that you want to apply before the commercial production credit claimed on this form. Line 9 – Enter the fixed dollar minimum tax from Form CT-3 or the designated agent’s fixed dollar minimum tax from Form CT-3-A. Lines 11, 16, and 17 – On line 11, enter the lesser of line 5 or line 10. Transfer the amounts from lines 11, 16, and 17 to your franchise tax return. Need help? and Privacy notification See Form CT-1, Supplement to Corporation Tax Instructions.
Extracted from PDF file 2023-new-york-form-ct-246.pdf, last modified October 2023

More about the New York Form CT-246 Corporate Income Tax Tax Credit TY 2023

We last updated the Claim for Empire State Commercial Production Credit in January 2024, so this is the latest version of Form CT-246, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-246 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-246 from the Department of Taxation and Finance in January 2024.

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Form CT-246 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-246

We have a total of thirteen past-year versions of Form CT-246 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form CT-246

Form CT-246 Claim for Empire State Commercial Production Credit Tax Year 2023

2022 Form CT-246

Form CT-246 Claim for Empire State Commercial Production Credit Tax Year 2022

2021 Form CT-246

Form CT-246 Claim for Empire State Commercial Production Credit Tax Year 2021

2020 Form CT-246

Form IT-246:2020:Claim for Empire State Commercial Production Credit:it246

2019 Form CT-246

Form IT-246:2019:Claim for Empire State Commercial Production Credit:it246

2018 Form CT-246

Form IT-246:2018:Claim for Empire State Commercial Production Credit:it246

2017 Form CT-246

Form IT-246:2017:Claim for Empire State Commercial Production Credit:it246

2016 Form CT-246

Form IT-246:2016:Claim for Empire State Commercial Production Credit:it246

2015 Form CT-246

Form CT-246:2015:Claim for Empire State Commercial Production Credit:ct246

Claim for Empire State Commercial Production Credit 2014 Form CT-246

Form CT-246:2014:Claim for Empire State Commercial Production Credit:ct246

Claim for Empire State Commercial Production Credit 2013 Form CT-246

Form CT-246:2013:Claim for Empire State Commercial Production Credit:ct246

2012 Form CT-246

Form CT-246:2012:Claim for Empire State Commercial Production Credit:ct246

2011 Form CT-246

Form CT-246:2011:Claim for Empire State Commercial Production Credit:ct246


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