New York Claim for Long-Term Care Insurance Credit

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.......................................................................................
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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.

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