×
tax forms found in
Tax Form Code
Tax Form Name

New York Free Printable Form CT-501 Temporary Deferral Nonrefundable Payout Credit Tax Year 2023 for 2024 New York Temporary Deferral Nonrefundable Payout Credit

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2023-new-york-form-ct-501.pdf, and you can print it directly from your computer.

Temporary Deferral Nonrefundable Payout Credit
Form CT-501 Temporary Deferral Nonrefundable Payout Credit Tax Year 2023

CT-501 Department of Taxation and Finance Temporary Deferral Nonrefundable Payout Credit For Nonrefundable Credits Deferred for Tax Years Beginning on Or After January 1, 2010 and Before January 1, 2013 Tax Law – Article 1, Section 34; Article 9, Section 187-o; Article 9-A, Section 210-B.33; and Article 33, Section 1511(y) File this form with your franchise tax return. Legal name of corporation Employer identification number Schedule A – Computation of credit used and carried over 1 Temporary deferral nonrefundable payout credit carry forward from last year’s Form CT-501 . ............... 2 Tax due before credits (see instructions) ................................................................................................................. 3 Tax credits claimed before this credit (see instructions) ..................................................................................... 4 Subtract line 3 from line 2 ....................................................................................................................................... 5 Minimum tax limitation (see instructions) ................................................................................................................. 6 Credit limitation (subtract line 5 from line 4; if zero or less, enter 0) ....................................................................... 7 Amount of credit used for the current tax year (see instructions) . .................................................................... 8 Amount of credit available for carryover to next year (subtract line 7 from line 1) ........................................... 1 2 3 4 5 6 7 8 Instructions General information Line instructions Temporary deferral of certain tax credits Schedule A – Computation of credit used and carried over For tax years beginning on or after January 1, 2010, and before January 1, 2013, if the total amount of certain credits that you could use to reduce your tax or have refunded to you was greater than $2 million, the excess over $2 million was deferred to tax years beginning on or after January 1, 2013. Purpose of Form CT-501 For tax years beginning on or after January 1, 2013, use Form CT-501 to claim the temporary deferral nonrefundable payout credit. Note: Use this form only for the nonrefundable credits that were deferred for tax years beginning on or after January 1, 2010, and before January 1, 2013. The credit is not allowed against the metropolitan transportation business tax (MTA surcharge) under Article 9, 9-A, or 33. New York S corporations: Only file this form if you filed Form CT-500 and deferred a special additional mortgage recording tax credit. Shareholders of New York S corporations will file Form IT-501 with their New York personal income tax return to claim any credits flowed through from the S corporation that were required to be deferred. Using your accumulated deferred credits The accumulated amounts of nonrefundable tax credits that were deferred for tax years beginning on or after January 1, 2010, and before January 1, 2013, are combined to become your temporary deferral nonrefundable payout credit. Any amount of this credit that is not deductible for the tax year beginning on or after January 1, 2013, and before January 1, 2014, may be carried over to the following year(s) to be deducted from your tax until the accumulated credit amount is exhausted. 535001230094 Section 1 Franchise tax return filed Forms CT-183 and CT-184 Form CT-186 Form CT-3 Form CT-3-A Form CT-3-S Form CT-33 Form CT-33-A Form CT-33-NL Section 2 Tax return filed Form CT-186-E Form CT-186-P Lines 2 and 5 entries table Enter on line 2 any net recaptured tax credits plus the amount from Enter on line 5 the amount below Form CT-183, line 4 plus Form CT-184, line 3 or 4 75 Line 5 Part 2, line 2 Part 2, line 2 Part 2, line 23 Line 11 Line 15 Line 5 125 Part 2, line 1c Part 2, line 1c Part 2, line 23 250 Line 4 plus line 12 250 Enter on line 2 any net recaptured tax credits plus the amount from Line 88 Line 4 Enter on line 5 the amount below 0 0 Line 2 – Enter your tax before credits using the Lines 2 and 5 entries table above. The temporary deferral nonrefundable payout 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 3 – 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 temporary deferral nonrefundable payout credit. Refer to the instructions of your franchise tax return to determine the order of credits that applies. Page 2 of 2  CT-501 (2023) 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 temporary deferral nonrefundable payout credit, that you want to apply before the temporary deferral nonrefundable payout 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 5 – Enter the amount using the Lines 2 and 5 entries table above. Line 7 – Enter the lesser of line 1 or line 6. Transfer this amount to your franchise tax return. Need help? and Privacy notification See Form CT-1, Supplement to Corporation Tax Instructions. 535002230094
Extracted from PDF file 2023-new-york-form-ct-501.pdf, last modified September 2023

More about the New York Form CT-501 Corporate Income Tax Tax Credit TY 2023

We last updated the Temporary Deferral Nonrefundable Payout Credit in January 2024, so this is the latest version of Form CT-501, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-501 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-501 from the Department of Taxation and Finance in January 2024.

Show Sources >

Form CT-501 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-501

We have a total of thirteen past-year versions of Form CT-501 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form CT-501

Form CT-501 Temporary Deferral Nonrefundable Payout Credit Tax Year 2023

2022 Form CT-501

Form CT-501 Temporary Deferral Nonrefundable Payout Credit Tax Year 2022

2021 Form CT-501

Form CT-501 Temporary Deferral Nonrefundable Payout Credit Tax Year 2021

2020 Form CT-501

Form CT-501 Temporary Deferral Nonrefundable Payout Credit Tax Year 2020

2019 Form CT-501

Form CT-501:2019:Temporary Deferral Nonrefundable Payout Credit:ct501

2018 Form CT-501

Form CT-501:2018:Temporary Deferral Nonrefundable Payout Credit:ct501

2017 Form CT-501

Form CT-501:2017:Temporary Deferral Nonrefundable Payout Credit:ct501

2016 Form CT-501

Form CT-183-M:2016:Transportation and Transmission Corporation MTA Surcharge Return:CT183M

2015 Form CT-501

Form CT-501:2015:Temporary Deferral Nonrefundable Payout Credit:ct501

Temporary Deferral Nonrefundable Payout Credit 2014 Form CT-501

Form CT-501:2014:Temporary Deferral Nonrefundable Payout Credit:ct501

Temporary Deferral Nonrefundable Payout Credit 2013 Form CT-501

Form CT-501:2013:Temporary Deferral Nonrefundable Payout Credit:ct501

2012 Form CT-501

Form CT-501:2012:Temporary Deferral Nonrefundable Payout Credit:ct501

2011 Form CT-501

CT-501:2011:Temporary Deferral Nonrefundable Payout Credit:ct501


TaxFormFinder Disclaimer:

While we do our best to keep our list of New York Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/index.php/newyork/form-ct-501