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New York Free Printable Form CT-249 Claim for Long-Term Care Insurance Credit Tax Year 2023 for 2024 New York Claim for Long-Term Care Insurance Credit

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Claim for Long-Term Care Insurance Credit
Form CT-249 Claim for Long-Term Care Insurance Credit Tax Year 2023

CT-249 Department of Taxation and Finance Claim for Long-Term Care Insurance Credit Tax Law – Article 9, Section 190; Article 9-A, Section 210-B.14; and Article 33, Section 1511(m) All filers must enter tax period: beginning Legal name of corporation ending Employer identification number File this form with Form(s) CT-183, CT-184, CT-186, CT-186-E, CT-186-P, CT-3, CT‑3‑A, CT‑3‑S, CT-33, CT-33-A, or CT-33-NL Computation of available long-term care insurance credit (New York S corporations, see instructions) 1 Qualified long-term care insurance premiums paid during the current tax year................................. 2 Multiply line 1 by 20% (.2).................................................................................................................. 3 Long-term care insurance credit from partnership(s) (from line 13; see instructions).................................. 4 Unused long-term care insurance credit from preceding period........................................................ 5 Total available long-term care insurance credit (add lines 2, 3, and 4) ................................................. Computation of long-term care insurance credit limitation 1 2 3 4 5 6 Tax due before credits (see instructions) .............................................. 6 7 Enter other credits claimed before the long‑term care insurance   credit (see instructions) ................................................................... 7 8 Net tax (subtract line 7 from line 6) ......................................................... 8 9 Minimum tax limitation (see instructions) .............................................. 9 10 Long-term care insurance credit limitation (subtract line 9 from line 8;   if line 9 is greater than line 8, enter 0) ................................................. 10 Computation of long-term care insurance credit used and available for carryforward 11 Long-term care insurance credit to be used for the current tax year (see instructions) ........................ 11 12 Long-term care insurance credit to be carried forward (subtract line 11 from line 5) .............................. 12 Partnership information (see the instructions for line 3; attach additional sheets if necessary) Name of partnership Identifying number Amount of credit Total from additional sheet(s), if any................................................................................................................ 13 Total credit amount allocated from partnership(s) (enter here and on line 3)................................ 13 A If you are claiming this credit as a corporate partner, mark an X in the box....................................................................................... 497001230094 Page 2 of 2 CT-249 (2023) Instructions General information Corporate taxpayers who pay premiums for qualifying longterm care insurance policies may claim a credit against the taxes imposed by Article 9, sections 183, 184, 186, 186‑a, and 186‑e and Articles 9‑A and 33. The credit is equal to 20% of the premiums paid during the tax year for the purchase of, or for continuing coverage under, a long‑term care insurance policy that qualifies for the credit pursuant to Insurance Law section 1117. Individuals use Form IT-249, Claim for Long‑Term Care Insurance Credit, to claim the credit. A qualifying long-term care insurance policy is one that is: • approved by the New York State Superintendent of Financial Services pursuant to Insurance Law section 1117(g); or • a group contract delivered or issued for delivery outside of New York State that is a qualified long-term care insurance contract as defined in Internal Revenue Code (IRC) section 7702B. (Note: IRC section 7702B relates to policies for which a federal itemized deduction is allowed.) This credit is not refundable. However, any portion of the credit that cannot be applied to the tax for the current tax year may be carried forward indefinitely to the following tax year or years. The credit may not reduce the tax to less than the following: • the applicable minimum tax fixed by Article 9, section 183 or 186 • the fixed dollar minimum under Article 9‑A • $250 under Article 33 Under Article 9, the credit must first be deducted from the taxes imposed by section 183 or 186. Any credit remaining must then be deducted from the taxes imposed by section 184. The credit is not allowed against the metropolitan transportation business tax (MTA surcharge) under Article 9, 9‑A, or 33. Line instructions New York S corporations: Complete only lines 1 through 5, and transfer the line 5 amount to the applicable line of Form CT‑34‑SH, New York S Corporation Shareholders’ Information Schedule. Line 3 – If you are a corporate partner receiving a long‑term care insurance credit from a partnership, include on line 3 your pro rata share of the long‑term care insurance credit passed through to you from the partnership. Enter in the Partnership information area the name, identifying number, and credit amount for each partnership that passed the credit through to you. Section 1 Franchise tax return filed Lines 6 and 9 entries table Enter on line 6 any net recaptured tax credits plus the amount from Enter on line 9 the amount below Forms CT-183 and CT-184 Form CT-186 Form CT-3 Form CT-3-A Form CT-33 Form CT-33-A Form CT-183, line 4 plus Form CT-184, line 3 or 4 75 Line 5 Part 2, line 2 Part 2, line 2 Line 11 Line 15 Form CT-33-NL Section 2 Tax return filed Line 5 125 Part 2, line 1c Part 2, line 1c 250 Line 4 plus line 12 250 Form CT-186-E Form CT-186-P Line 39 + line 88 + line 115 0 Line 4 0 Enter on line 6 any net recaptured tax credits plus the amount from Enter on line 9 the amount below Line 6 – Enter your tax before credits using the Lines 6 and 9 entries table above. The long-term care insurance credit can be applied to taxes as computed on the forms listed in the table above. 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 7 – If you are claiming more than one tax credit for this year, enter the amount of credits claimed before applying this credit. Otherwise enter 0. You must apply certain credits before the long‑term care insurance credit. Refer to the instructions of your franchise tax return to determine the order of credits that applies. Article 9-A filers: Refer to Form CT-600-I, Instructions for Form CT-600, for the order of credits. If you are included in a combined return, include any amount of tax credits being claimed by other members of the combined group, including the long-term care insurance credit, that you wish to apply before your long-term care insurance credit. CT-33 and CT-33-A filers, including unauthorized insurance corporations: Do not enter on this line any amount of empire zone (EZ) wage tax credits, zone equivalent area (ZEA) wage tax credits, or EZ capital tax credits you may be claiming. If you are included in a combined return, do not include any amount of these tax credit(s) being claimed by other members of the combined group. Line 9 – Enter the amount using the Lines 6 and 9 entries table above. Line 11 – Enter the lesser of line 5 or line 10 and transfer this amount to your franchise tax return. Need help? and Privacy notification See Form CT-1, Supplement to Corporation Tax Instructions. 497002230094
Extracted from PDF file 2023-new-york-form-ct-249.pdf, last modified October 2023

More about the New York Form CT-249 Corporate Income Tax Tax Credit TY 2023

This form is to be filled out by those who have been under care for a long period of time.

We last updated the Claim for Long-Term Care Insurance Credit in January 2024, so this is the latest version of Form CT-249, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-249 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-249 from the Department of Taxation and Finance in January 2024.

Show Sources >

Form CT-249 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-249

We have a total of thirteen past-year versions of Form CT-249 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form CT-249

Form CT-249 Claim for Long-Term Care Insurance Credit Tax Year 2023

2022 Form CT-249

Form CT-249 Claim for Long-Term Care Insurance Credit Tax Year 2022

2021 Form CT-249

Form CT-249 Claim for Long-Term Care Insurance Credit Tax Year 2021

2020 Form CT-249

Form IT-249 Claim for Long-Term Care Insurance Credit Tax Year 2020

2019 Form CT-249

Form IT-249:2019:Claim for Long-Term Care Insurance Credit:it249

2018 Form CT-249

Form IT-249:2018:Claim for Long-Term Care Insurance Credit:it249

2017 Form CT-249

Form IT-249:2017:Claim for Long-Term Care Insurance Credit:IT249

2016 Form CT-249

Form IT-249:2016:Claim for Long-Term Care Insurance Credit:IT249

2015 Form CT-249

Form CT-249:2015:Claim for Long-Term Care Insurance Credit:CT249

Claim for Long-Term Care Insurance Credit 2014 Form CT-249

Form IT-249:2014:Claim for Long-Term Care Insurance Credit:IT249

Claim for Long-Term Care Insurance Credit 2013 Form CT-249

Form CT-249:2013:Claim for Long-Term Care Insurance Credit:CT249

2012 Form CT-249

Form CT-249:2012:Claim for Long-Term Care Insurance Credit:CT249

2011 Form CT-249

Form CT-249:2011:Claim for Long-Term Care Insurance Credit:CT249


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