New York New York City Musical and Theatrical Production Tax Credit

New York City Musical and Theatrical Production Tax Credit
Form CT-654 New York City Musical and Theatrical Production Tax Credit Tax Year 2023Department of Taxation and Finance

New York City Musical and Theatrical
Production Tax Credit
Tax Law – Sections 24-c and 210-B(57)

CT-654

All filers must enter tax period:
beginning

Legal name of corporation

ending
Employer identification number (EIN)

File this form with your franchise tax return.
All filers must complete lines A through D.

A Are you claiming this credit as a corporation that earned the credit (not as a corporate partner that
received a share of the credit from a partnership)? (mark an X in the appropriate box; see instructions) Yes
C corporations
If Yes, complete lines B through D, and Schedules A
through C.
If No, and you are claiming this credit as a corporate
partner, complete lines B through D, and Schedules B
and C.

New York S corporations
If Yes, complete lines B through D, and Schedules A and
B.
If No, and you are claiming this credit as a corporate
partner, complete lines B through D, and Schedule B.

Certificate information
On lines B through D below, enter the information from your certificate of tax credit (see instructions).
B Name and EIN of the business certified by Empire State Development (ESD) to participate in the New York City musical and theatrical production tax credit program.
Name of certified business

EIN

C Completion date ...........................................................................................................................
D Certificate number.........................................................................................................................

Schedule A – Computation of credit
1

1 New York City musical and theatrical production tax credit (see instructions)......................................

Schedule B – Partnership information (see instructions)
A
Name of partnership

B
Partnership’s EIN

C
Certificate number

D
Credit amount allocated

Total from additional Form(s) CT-654, if any..............................................................................................
2 Total credit allocated from partnership(s) (add column D amounts) .................................................
3 Total credit (add lines 1 and 2; New York S corporations, see instructions) ...........................................

583001230094

2
3

Page 2 of 2 CT-654 (2023)

Schedule C – Computation of credit used, refunded, or credited as an overpayment to the next tax year

(New York S corporations: do not complete this schedule.)

4 Tax due before credits (see instructions) . .............................................................................................. 4
5 Tax credits claimed before this credit (if none, enter 0; see instructions) ............................................... 5
6 Tax after application of credits (subtract line 5 from line 4) ...................................................................... 6
7 Fixed dollar minimum tax (see instructions) ........................................................................................... 7
8 Credit limitation (subtract line 7 from line 6; if line 7 is more than line 6, enter 0) ........................................ 8
9 Credit used for this tax year (enter the lesser of line 3 or line 8; enter here and on your franchise tax return) . 9
10 Unused tax credit available as a refund or as an overpayment (subtract line 9 from line 3).................. 10
11 Amount of credit to be refunded (limited to the amount on line 10; enter here and on your franchise tax

return) ............................................................................................................................................. 11
12 Amount of credit to be applied as an overpayment to the next year’s tax (subtract line 11 from line 10;
enter here and on your franchise tax return) ......................................................................................... 12

583002230094

Extracted from PDF file 2023-new-york-ct-654.pdf, last modified October 2023

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More about the New York CT-654 Individual Income Tax TY 2023

Available to those taxpayers who are certified by the Empire State Development (ESD), The New York City Musical and Theatrical Production Tax Credit is used to participate in the program and the tax credit certificate is issued to them

We last updated the New York City Musical and Theatrical Production Tax Credit in January 2024, so this is the latest version of CT-654, fully updated for tax year 2023. You can download or print current or past-year PDFs of CT-654 directly from TaxFormFinder. You can print other New York tax forms here.

Related New York Individual Income Tax Forms:

TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the New York CT-654.

Form Code	Form Name
CT-654 (Instructions)	New York City Musical and Theatrical Production Tax Credit (Instructions)

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 CT-654 from the Department of Taxation and Finance in January 2024.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of New York CT-654

We have a total of two past-year versions of CT-654 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 CT-654

Form CT-654 New York City Musical and Theatrical Production Tax Credit Tax Year 2023

2022 CT-654

Form CT-654 New York City Musical and Theatrical Production Tax Credit Tax Year 2021

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