New York Credit for Rehabilitation Expenses for Retail Enterprises and Historic Barns (OBSOLETE)

Credit for Rehabilitation Expenses for Retail Enterprises and Historic Barns (OBSOLETE)
Form CT-46-ATT:2014:Credit for Rehabilitation Expenses for Retail Enterprises and Historic Barns:CT46ATT
	

New York State Department of Taxation and Finance

	
	

Credit for Rehabilitation Expenses for
Retail Enterprises and Historic Barns

		
	 Legal name of corporation	

beginning	

CT-46-ATT

All filers must enter tax period:
ending
Employer identification number

Schedule A – Rehabilitation expenditures for retail enterprises
	 New York State sales tax vendor registration number	
		

Percentage of business receipts from retail sales........................................		
Percentage of rehabilitated area used in retail sales....................................		

	
A	
B	
C	
D	
E	
	
Description of property	
Primary use of	
Date of	
Life	
Rehabilitation	
	 rehabilitation expenditures	
rehabilitated area	
expenditure	 (years)	
expenditures	
			
(mm-dd-yy)			
						

F	
% Rates	
(see Rate	

schedule 1 in	
Form CT-46-I)

	 1	 Add column G amounts (enter here and on Form CT-46, line 3).................................................................................... 	

	
%
	%

G
Investment
tax credit
(E × F)

1

Schedule B – Rehabilitation expenditures for historic barns
For lines 2 through 11, mark an X in the Yes or No box for each question to determine if you are eligible to claim this credit.
	 2	 Has the barn been converted to residential use?.........................................................................................................................	Yes	
		  If Yes, stop. You do not qualify for this credit.
	 3	 Is the barn listed in the National Register?...................................................................................................................................	Yes	
		  If Yes, the barn’s rehabilitation must be certified by the federal Secretary of Interior or the New York State Office of Parks,
		  Recreation and Historic Preservation. Attach a copy of the certification (see instructions).

No

	 4	 If you answered No to question 3, is the barn located in a registered historic district?................................................................	Yes	

No

	 5	 If you answered Yes to question 4, is the barn of historic significance to the district?.................................................................	Yes	
		  If Yes, the barn must be a certified historic structure and the barn’s rehabilitation must be certified by the federal Secretary
		  of Interior or the New York State Office of Parks, Recreation and Historic Preservation. Attach a copy of the certification.

No

No

		  If No, attach documentation from the Office of Parks, Recreation and Historic Preservation stating the barn is of
		  no historic significance to the district (see TSB-M-97(5)(C), A Credit for Rehabilitation of Historic Barns).
	 6	 If you answered No to questions 3 and 4, was the barn originally designed and used for storing farm equipment or
		  agricultural products or for housing livestock, and was the barn first placed into service before 1936?..................................	Yes	
		  If No, stop. You do not qualify for this credit.
	 7	 Has the historic appearance of the barn been materially altered?...............................................................................................	Yes	
		  If Yes, stop. You do not qualify for this credit.
		  If No, attach a copy of the letter from the Office of Parks, Recreation and Historic Preservation stating
		  that the historic appearance of the barn has not been materially altered (see TSB-M-97(5)(C)).

No
No

	 8	 Describe the measurement period used to determine whether the barn has been substantially rehabilitated (see instructions)......

	 9	 What is the adjusted basis of the barn as of the first day of the measurement period? (see instructions). ............... 	

9

	 10	 Do the expenditures incurred during the measurement period to rehabilitate the barn exceed the greater of the amount
		  shown in question 9 or $5,000?................................................................................................................................................	Yes	
No
		   If No, stop. You do not qualify for this credit.
	 11	 Did you use the straight-line method of depreciation over a recovery period specified in either Internal Revenue Code (IRC)
		  section 168(c) or 168(g), whichever is applicable to you?........................................................................................................	Yes	
No
		  If No, stop. You do not qualify for this credit.
Date rehabilitation work began:	
Date rehabilitation work was completed:
	
A	
B	
C	
D	
E
	
Description of rehabilitation expenditures	
Date of	
Life	
Amount of	
Rehabilitation credit
	
(attach additional sheets if necessary)	
expenditure(s)	 (years)	
expenditure(s)	
(column D × 25% (.25))
		

(mm-dd-yy)

	 12	 Add column E amounts (enter here and on Form CT-46, line 4).................................................................................... 	 12

Attach to Form CT-46, Claim for Investment Tax Credit.
476001140094

Page 2 of 2  CT-46-ATT (2014)

Instructions

Purpose of form
Use Form CT-46-ATT to claim a credit for the rehabilitation
expenditures of retail enterprises (Schedule A) or historic barns
(Schedule B). If you qualify for either credit, or both, complete
the applicable schedule and attach this form to Form CT-46,
Claim for Investment Tax Credit.
The provisions for recapture applicable to investment tax
credit property (Article 9-A section 210.12(g)) also apply to
these credits. Refer to the instructions for computing recapture
amounts in Schedule D on Form CT-46.
Credit for rehabilitation expenditures for retail enterprises
Section 210.12(k) allows a credit for qualified rehabilitation
expenditures, as defined in Internal Revenue Code (IRC),
section 47(c)(2). In addition to qualifying for the federal credit,
the taxpayer must be a retail enterprise.
A retail enterprise is a taxpayer registered as a vendor under Tax
Law Article 28, and is at least 50% engaged in retail sales as
defined in section 1101(b)(4)(i).
The rehabilitated property must be located in New York
State. The credit is limited to the portion of the expenditures
attributable to the property employed in retail sales.
Credit for rehabilitation expenditures for historic barns
Section 210.12(l) allows a credit for qualified rehabilitation
expenditures, as defined in IRC section 47(c)(2), paid or incurred
for any barn located in New York State that is a qualified
rehabilitated building, as defined in IRC section 47(c)(1).
A barn must be a building originally designed and used for
storing farm equipment or agricultural products, or for housing
livestock. No rehabilitation credit is allowed for a barn converted
to a residence or a barn whose historic appearance has been
altered.
A barn must either have been placed in service before 1936,
or, if placed in service after that time, a barn must be a certified
historic structure listed in the National Register of Historic
Places, or located in a registered historic district certified by the
Secretary of the Interior.
Expenditures for the enlargement of a barn do not qualify
for the credit. However, a barn will not be disqualified from
the credit because it has been enlarged. In such cases, the
total expenditures paid or incurred for rehabilitation must be
apportioned to exclude those expenditures attributable to the
enlargement.
For detailed information concerning qualified rehabilitated
expenditures, qualified rehabilitated buildings, alteration of
the historic appearance of a barn, certified historic structures,
registered historic districts, and enlargement of a barn, refer to
TSB-M-97(5)(C), A Credit for Rehabilitation of Historic Barns.

Computation of tax credit(s)
Complete Schedules A and B as appropriate, and enter the total
credits computed on Form CT-46, lines 3 and 4.

Schedule A – Rehabilitation expenditures for retail
enterprises
Provide the information required in columns A, B, C, and D.
Attach a separate page if you need more space. Enter in
column E the portion of the qualified rehabilitation expenditures
paid or incurred for that part of the building employed in retail
sales activity.
476002140094

Schedule B – Rehabilitation expenditures for historic
barns
Questions 3 and 4 – If a barn is listed in the National Register,
or a barn is located in a registered historic district and is of
historic significance to the district, the barn is a certified historic
structure. A certified historic structure must have a rehabilitation
certified by the federal Secretary of Interior or the New York
State Office of Parks, Recreation and Historic Preservation.
If the barn for which a credit is claimed is a certified historic
structure, attach the appropriate certification. For more
information, see TSB-M-97(5)(C).
Questions 5 and 7 – Attach documentation that the historic
appearance of the barn has not been materially altered and,
where appropriate, documentation that the barn is of no historic
significance to a registered historic district. One acceptable form
of documentation is a letter from the Office of Parks, Recreation
and Historic Preservation. Documentation that a federal
rehabilitation credit of 10% or 20% has been allowed for a barn
is another acceptable form of documentation.
Questions 8 and 9 – To qualify for the credit, a barn must
have been substantially rehabilitated. To determine whether
a barn has been substantially rehabilitated, the expenditures
incurred to rehabilitate the barn during a measurement period
selected by the taxpayer must exceed the greater of the
adjusted basis of the barn or $5,000. The measurement period
is a 24-month period selected by the taxpayer and ending with
or within the tax year. If the rehabilitation could reasonably be
expected to be completed in phases set forth in architectural
plans and specifications completed before the rehabilitation
begins, the measurement period may be 60 months long. You
may be required to submit documentation of the architectural
plans and specifications at a later date. The adjusted basis is
generally determined as of the beginning of the first day of the
measurement period.
Provide the information required in columns A, B, and C. Attach
a separate page if you need more space.
Column D – Enter in column D the amount of qualified
rehabilitation expenditures paid or incurred for a qualified
rehabilitated barn.
If the expenditures include the cost of enlarging a barn and
can be separately accounted for, exclude the expenditures
attributable to the enlargement. Otherwise, on a separate page,
show the total expenditures (including the enlargement) and
the apportionment method to exclude the expenditures for the
enlargement (as prescribed in TSB-M-97(5)(C)) that was used to
arrive at the amount of rehabilitation expenditures entered in this
column.

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See Form CT-1, Supplement to Corporation Tax Instructions.