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New York Manufacturer's Real Property Tax Credit
Extracted from PDF file 2023-new-york-form-ct-641.pdf, last modified August 2016Manufacturer's Real Property Tax Credit
Department of Taxation and Finance Manufacturer’s Real Property Tax Credit Tax Law – Section 606(xx) IT-641 Calendar-year filers, mark an X in the box: Other filers enter tax period: beginning Submit this form with Form IT‑201, IT‑203, IT‑204, or IT‑205. Name(s) as shown on return ending Identifying number as shown on return All filers must complete line A. A Are you claiming this credit as an individual (sole proprietor), partnership, or fiduciary of an estate or trust that earned the credit (not as a partner, shareholder, or beneficiary, receiving a share of the credit)? (mark an X in the appropriate box, see instructions) ..................................................................................... Yes If Yes: Individual (sole proprietor) and partnership: Complete Schedules A and D, and if applicable, Schedule E. Fiduciary: Complete Schedules A, C, and D, and if applicable, Schedule E. No If No, complete Schedules B and D, and if applicable, Schedule E. Fiduciary, also complete Schedule C. Schedule A – Individual (sole proprietor), partnership, and fiduciary Property A Physical address of the real property B Eligible real property taxes paid for property listed in column A (see instructions) 1 .00 2 .00 3 .00 4 .00 5 .00 6 .00 7 .00 8 .00 9 .00 Total from any additional Forms IT-641............................................................................................................. .00 1 Total eligible real property taxes (add column B amounts) ....................................................................... 1 .00 2 Tax credit rate ....................................................................................................................................... 2 .20 3 Tax credit (multiply line 1 by line 2) ........................................................................................................... Individuals and partnerships: Enter the line 3 amount on line 8. Fiduciaries: Include the line 3 amount on line 5, column A. 3 641001230094 .00 Page 2 of 3 IT-641 (2023) Schedule B – Partner’s, shareholder’s, or beneficiary’s share of credit and credit recapture (see instructions) If you were a partner in a partnership, a shareholder of a New York S corporation, or a beneficiary of an estate or trust and received a share of the manufacturer’s real property tax credit from that entity, complete the following information for each partnership, S corporation, or estate or trust. For Type, enter P for partnership, S for S corporation, or ET for estate or trust. A Name of entity B Type C Employer identification number D Share of credit E Share of credit recapture .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 Total of columns D and E amounts from any additional Forms IT-641................... .00 .00 .00 .00 4 Total .......................................................................................................... 4 Fiduciaries: Include the line 4, column D amount on line 5, column A and the line 4, column E amount on line 5, column B. All others: Enter the line 4, column D amount on line 9 and the line 4, column E amount on line 13. Schedule C – Beneficiary’s and fiduciary’s share of credit and credit recapture (see instructions) A Credit 5 Fiduciary’s total (see instructions) ............................................................... A Beneficiary’s name (same as on Form IT-205, Schedule C) .00 5 B Identifying number B Credit recapture .00 D Share of credit recapture C Share of credit .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 Total of columns C and D amounts from any additional Forms IT-641.................. .00 .00 6 Total of allocated share to beneficiaries.................................................... 6 .00 .00 7 Fiduciary’s share (subtract line 6 from line 5; see instructions) ....................... 7 .00 .00 641002230094 IT-641 (2023) Page 3 of 3 Schedule D – Computation of credit Individuals and partnerships 8 Enter the amount from line 3............................................................ Partners, S corporation shareholders, beneficiaries 9 Enter the amount from line 4, column D........................................... Fiduciaries 8 .00 9 .00 10 Enter the amount from line 7, column C........................................... 10 .00 11 Total credit (see instructions below).................................................... 11 .00 Individuals: (sole proprietors), partners, S corporation shareholders, and beneficiaries: Add lines 8 and 9. Enter the line 11 amount and code 641 on Form IT-201-ATT, line 12, or Form IT-203-ATT, line 12. Partnerships: Add lines 8 and 9. Enter the line 11 amount and code 641 on Form IT-204, line 147. Fiduciaries: Enter the amount from line 10 on line 11. Include the amount from line 11 on Form IT-205, line 33. Schedule E – Computation of credit recapture A Tax year credit allowed B C Credit originally allowed D Tax credit rate Reduced eligible real property taxes E Column C x column D F Credit recapture (column B - column E) .00 .00 .20 .00 .00 .00 .00 .20 .00 .00 .00 .00 .20 .00 .00 .00 .00 .20 .00 .00 .00 .00 .20 .00 .00 .00 .00 .20 .00 .00 .00 .00 .20 .00 .00 .00 .00 .20 .00 .00 .00 .00 .20 .00 .00 .00 .00 .20 .00 .00 Total from any additional Forms IT-641 ............................................................................................................ .00 12 Recaptured credit (total of column F amounts; Fiduciary: enter here and on line 5, column B) ....................... 12 13 Partner in a partnership, shareholder of an S corporation, or beneficiary of an estate or trust: enter your share of the credit recapture from line 4, column E (see instructions) .............................. 13 .00 14 Fiduciaries: Enter the amount from line 7, column D .......................................................................... 14 .00 15 Total recaptured credit (see instructions below)....................................................................................... 15 .00 .Individuals (sole proprietors), partners, S corporation shareholders, and beneficiaries: Add lines 12 and 13. Enter the line 15 amount and code 641 on Form IT-201-ATT, line 20, or Form IT-203-ATT, line 19. .Partnerships: Add lines 12 and 13. Enter the line 15 amount and code 641 on Form IT-204, line 148. Fiduciaries: Enter the line 14 amount on line 15. Include the line 15 amount on Form IT-205, line 12. 641003230094 .00
Form IT-641 Manufacturer's Real Property Tax Credit Tax Year 2023
More about the New York Form CT-641 Corporate Income Tax Tax Credit TY 2023
We last updated the Manufacturer's Real Property Tax Credit in January 2024, so this is the latest version of Form CT-641, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-641 directly from TaxFormFinder. You can print other New York tax forms here.
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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 CT-6 | Election by a Federal S Corporation to be Treated As a New York S Corporation |
| Form IT-204 | Partnership Tax Return |
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-641 from the Department of Taxation and Finance in January 2024.
Form CT-641 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-641
We have a total of ten past-year versions of Form CT-641 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form CT-641
Form IT-641 Manufacturer's Real Property Tax Credit Tax Year 2023
2022 Form CT-641
Form IT-641 Manufacturer's Real Property Tax Credit Tax Year 2022
2021 Form CT-641
Form IT-641 Manufacturer's Real Property Tax Credit Tax Year 2021
2020 Form CT-641
Form IT-641:2020:Manufacturer's Real Property Tax Credit:it641
2019 Form CT-641
Form IT-641:2019:Manufacturer's Real Property Tax Credit:it641
2018 Form CT-641
Form IT-641:2018:Manufacturer's Real Property Tax Credit:it641
2017 Form CT-641
Form IT-641:2017:Manufacturer's Real Property Tax Credit:it641
2016 Form CT-641
Form IT-641:2016:Manufacturer's Real Property Tax Credit:it641
2015 Form CT-641
Form CT-641:2015:Manufacturer's Real Property Tax Credit:ct641
2014 Form CT-641
Form CT-641:2014:Manufacturer's Real Property Tax Credit:ct641
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