New York Claim for Investment Tax Credit

Claim for Investment Tax Credit
Form CT-46 Claim for Investment Tax Credit Tax Year 2023
CT-46

Department of Taxation and Finance

Claim for Investment Tax Credit
(Includes Employment Incentive Credit)
Tax Law – Sections 210-B.1 and 210-B.2

File this form with
		

Form CT-3, CT-3-A, or CT-3-S.

	 Legal name of corporation	

beginning	

All filers must enter tax period:
ending
Employer identification number

Summary of tax credit(s)
	1	 Investment tax credit (from line 20) ..................................................................................................... 	1
	2	Investment tax credit on research and development (R&D) property at the optional rate (from line 21) ............ 	
2
	 2a	 Investment tax credit for eligible farmers (from line 21a) .................................................................... 	 2a
	3	Subtotal (add lines 1, 2, and 2a) .............................................................................................................	 3
	4	Employment incentive credit (from line 28) ......................................................................................... 	
4
	5	Unused investment tax credit or employment incentive credit from
		  preceding period (New York S corporations, enter 0)........................ 	
5
	6	Unused expired tax credits (see instructions; New York S corporations, enter 0) .	 6
	7	Subtract line 6 from line 5...................................................................................................................	 7
	8	Total (add lines 3, 4, and 7; New York S corporations, see instructions) ..................................................... 	
8
	9	Recapture of excess credit taken in previous periods (from line 32; New York S corporations, see instructions) .	
9
	10	 Net investment tax credit(s) (see instructions) .................................................................................... 	 10

Computation of investment tax credit used, refunded, or carried forward (New York S corporations do not complete this section)
	11	Tax due before credits (see instructions) .............................................	11
	12	 Tax credits claimed before the investment tax credit (see instructions) 		12
	13	 Subtract line 12 from line 11..............................................................	13
	14	 Fixed dollar minimum tax (see instructions) ........................................	14
	15	 Limitation on investment tax credit (subtract line 14 from line 13; if less than zero, enter 0).	 15
	16	 Investment tax credit to be used this period (see instructions)............................................................ 	 16
	17	 Unused investment tax credit (subtract line 16 from line 10) ................................................................. 	 17
	18a	 Investment tax credit available for refund (see instructions) ............................................................... 	 18a
If you are a qualified new business or an eligible farmer, mark an X in the appropriate box:
	18b	 Qualified new business  
............................................................................................................	 18b
	18c	 Eligible farmer  
..........................................................................................................................	 18c
18d	 Amount of line 18a to be refunded (see instructions)........................................................................... 	 18d
	18e	 Amount of line 18a to be applied as an overpayment to next year’s tax (subtract line 18d from
		  line 18a; see instructions).......................................................................................................................................	 18e
	19	 Unused investment tax credit available to be carried forward (see instructions) ................................. 	 19

Schedule A – Investment tax credit (Attach additional Forms CT-46 as necessary; see instructions)

For each property, complete columns A through D here and columns E through H on the corresponding lines below.
Item

	A
	B
Item

A – Description of property
(list items separately)

E – Investment credit base

F – Investment credit

(column E × standard rate; see
Rate schedule 1 in Form CT-46-I)

B – Principal use of property

C – Date acquired
(mm-dd-yy)

D – Useful
(years)

G – Investment credit for research H – Investment credit for eligible
and development property
farmers on qualified property
(column E × optional rate; see
Rate schedule 1 in Form CT-46-I)

(see instructions) (column E x 20% [0.2])

	A
	B

Amounts from additional Forms CT-46 if any
	20	 Add column F amounts
		  (enter here and on line 1) ........ 	 20
	21	 Add column G amounts (enter here and on line 2) ....................... 	 21
	21a	 Add column H amounts (enter here and on line 2a) ........................................................................	 21a
452001230094
	A	
If you are claiming this credit as a corporate partner, mark an X in the box (see instructions)........

Page 2 of 2  CT-46 (2023)

Schedule B – Eligibility for employment incentive credit (see example in Form CT-46-I, Schedules B and C–Examples)
A	
B	
C	
D	
E	
F	
G	
H*
	 A			
	 Use with Schedule C, line 26,	
Year	
March 31	
June 30	 September 30	 December 31	Total	 Average	Percent
first
succeeding
year
		
						
(B+C+D+E)		
%

	22	 Number of New York State employees
			 in employment base year
	23	 Number of New York State employees
			 in current tax year
B	 Use with Schedule C, line 27,	
Year	
March 31	
June 30	 September 30	 December 31	Total	 Average	Percent
		second succeeding year						
(B+C+D+E)		
%
	24	 Number of New York State employees
			
in employment base year
	25	 Number of New York State employees
			 in current tax year
*Divide the average number of employees in the current tax year by the average number of employees in the base year (column G).

Schedule C – Employment incentive credit computation (see example in Form CT-46-I, Schedules B and C–Examples)
A	
Tax year in which	
investment tax	
credit was allowed	

	
	
	
	

B	
C
Amount of investment credit base upon	
Employment incentive credit
which original investment tax credit was	
(multiply column B by the appropriate rate
allowed (excluding R&D property at optional rate)	 from Rate schedule 2 in Form CT-46-I)

26		Information for first succeeding year:
use line 23, column H, to determine rate
		
27		Information for second succeeding year:
use line 25, column H, to determine rate
		
28	 Add column C amounts (enter here and on line 4) ............................................................................. 	 28

Schedule D – Recapture of investment tax credit, including rehabilitation expenditures for retail enterprises and historic barns
	

(Attach additional Forms CT-46 as necessary)

	
A	
B	
	
Description of property	
Date of	
		 acquisition	
		 or rehabilitation	
		

	29	
	30	
	31	
	32	

C	
Date property	
ceased to	
qualify	

(mm-dd-yy)	(mm-dd-yy)

D	
Life	

E	
F	
Unused	 Percentage	
(months)	life	
(E ÷ D)	
	
(months)	
	

G	
Total original	
investment	
tax credit allowed	

Total recaptured investment tax credit from additional Forms CT-46 if any .................................................	
Recaptured investment tax credit (add column H amounts and line 29) ............................................................	
Additional recapture (see instructions) ...........................................................................................................	
Add lines 30 and 31 (enter here and on line 9) ................................................................................................	

452002230094

29
30
31
32

H
Recaptured investment
tax credit
(F × G)