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New York Free Printable Form CT-604 Claim for QEZE Tax Reduction Credit Tax Year 2023 for 2024 New York Claim for QEZE Tax Reduction Credit

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Claim for QEZE Tax Reduction Credit
Form CT-604 Claim for QEZE Tax Reduction Credit Tax Year 2023

Department of Taxation and Finance Claim for QEZE Tax Reduction Credit Tax Law – Article 1, Section 16; Article 9-A, Section 210-B.6; and Article 33, Section 1511(s) CT-604 Note: You must file all pages (1 through 7) with your return. All taxpayers must complete the information below and then complete either Section 1 (pages 1 through 3) or Section 2 (pages 5 through 7). Do not complete both sections. Legal name of corporation All filers must enter tax period: beginning ending Employer identification number (EIN) Name of empire zone(s) File this form with your corporation franchise tax return Form CT-3, CT-3-A, CT-3-S, CT-33, CT‑33‑NL, or CT-33-A. Mark an X in the appropriate box when answering Yes or No questions. Are you a clean energy enterprise (CEE)?.............................................................................................................. Yes Are you a QEZE first certified between August 1, 2002 and March 31, 2005, that conducts its operations on real property it owns or leases that is located in an empire zone (EZ) and that is subject to a BCA executed prior to January 1, 2006?...... Yes No No Section 1 – For QEZEs first certified prior to April 1, 2005 (see Important information in the instructions) Date of first certification by Empire State Development (mm-dd-yy; attach copies of all Certificates of Eligibility,   including retention certificates).................................................................................................................................... Schedule A­– Employment test for QEZEs first certified prior to April 1, 2005 (see instructions) Part 1 – EZ employment – Computation of the employment number within all EZs for the current tax year and in the five-year base period: Include employees within all EZs even if you are not certified in all of those zones (see instructions). Current tax year employment number March 31 June 30 September 30 December 31 Number of full-time employees within all EZs 1 Current tax year employment number within all EZs (do not round; see instructions)............................ 1 Base period employment number Tax year ending March 31 June 30 September 30 December 31 (mm-yy) a Number in base year 1 b Number in base year 2 c Number in base year 3 d Number in base year 4 e Number in base year 5 f Total number of full-time employees within all EZs in the base period......................................................... 2 Base period employment number within all EZs (do not round; see instructions)................................... 2 Total Total No 3 Does the amount on line 1 equal or exceed the amount on line 2? (see instructions).......................... 3 Yes Part 2 – New York State employment outside all EZs – Computation of the employment number inside New York State and outside all EZs (whether or not you are certified in all of those EZs) for the current tax year and in the five-year base period (see instructions) Current tax year employment number March 31 June 30 September 30 December 31 Total Number of full-time employees inside New York State and outside all EZs 4 Current tax year employment number inside New York State and outside all EZs (do not round)....... 4 Base period employment number Tax year ending March 31 June 30 September 30 December 31 Total (mm-yy) a Number in base year 1 b Number in base year 2 c Number in base year 3 d Number in base year 4 e Number in base year 5 f Total number of full-time employees inside New York State and outside all EZs in the base period........... 5 Base period employment number inside New York State and outside all EZs (do not round).............. 5 6 Does the amount on line 4 equal or exceed the amount on line 5? (see instructions).......................... 6 Yes 464001230094 No Page 2 of 7  CT-604 (2023) Schedule B – Computation of test year employment number within the EZs in which you are certified Test year to (mm-yy) March 31 June 30 September 30 December 31 Total Number of full-time employees within the EZs 7 Test year employment number within the EZs in which you are certified (see instructions)................. 7 Schedule C – Employment increase factor (see instructions) 8 Current tax year employment number within the EZs in which you are certified (see instructions)...... 9 Test year employment number within the EZs in which you are certified (from line 7)........................... 10 Subtract line 9 from line 8.................................................................................................................... 11 Divide line 10 by line 9 (carry result to four decimal places; if line 9 is zero and line 8 is greater than zero, enter 1.0 here).... 12 Divide line 10 by 100 (carry result to four decimal places)......................................................................... 13 Employment increase factor (enter the greater of line 11 or 12, but not more than 1.0; also enter on line 21)..... 8 9 10 11 12 13 Schedule D – Zone allocation factor (see instructions) A EZ B New York State 14 Average value of property (see instructions)..................................................... 14 15 EZ property factor (divide line 14, column A by line 14, column B; carry result   to four decimal places).................................................................................... 15 16 Wages and other compensation of employees, excluding general   executive officers (see instructions)............................................................... 16 17 EZ payroll factor (divide line 16, column A by line 16, column B; carry result   to four decimal places).................................................................................... 17 18 Total EZ factors (add lines 15 and 17)............................................................... 18 19 Zone allocation factor (divide line 18 by two; carry result to four decimal   places; enter here and on line 22).................................................................... 19 (continued) 464002230094 CT-604 (2023)  Page 3 of 7 Schedule E – QEZE tax reduction credit (New York S corporations do not complete Schedule E; see instructions) Part 1 – Computation of QEZE tax reduction credit 20 21 22 23 24 Tax year of the business tax benefit period ; benefit period factor (from table below)............ 20 Employment increase factor (from line 13)............................................................................................. 21 Zone allocation factor (from line 19)..................................................................................................... 22 Tax factor (see instructions).................................................................................................................. 23 QEZE tax reduction credit (multiply line 20 by line 21 by line 22 by line 23).............................................. 24 Part 2 – Application of QEZE tax reduction credit (see instructions) 25 Enter your franchise tax before credits (see instructions) .................................................................... 25 26 Tax credits claimed before the QEZE tax reduction credit (if applying multiple credits on your   franchise tax return, see instructions).................................................................................................... 26 27 Subtract line 26 from line 25.............................................................................................................. 27 28 Enter appropriate tax: Article 9-A – If line 19 equals 1.0, enter 0. If line 19 is less than 1.0, see instructions Article 33 – Enter 250 Article 33 combined – Multiply number of taxable filers in combined group by 250........................... 28 29 Credit limitation (subtract line 28 from line 27)........................................................................................ 29 30 QEZE tax reduction credit used (see instructions) ............................................................................... 30 * For taxpayers first certified prior to April 1, 2005, the QEZE tax Benefit period factor table* reduction credit is generally available for up to 14 years for taxpayers that continue to qualify. Tax year of Benefit period Tax year of Benefit period benefit period factor ** benefit period factor ** **For an owner of a qualified investment project or a significant capital 1 - 10 1.0 13 0.4 investment project, the benefit period factor will be 1.0 during the entire business tax benefit period. 11 0.8 14 0.2 12 0.6 15 0.0 Find the tax year of your business tax benefit period. Enter the benefit period factor for that year (from Benefit period factor table) on line 20. Schedule F – Related entities List the names and EINs of any related business entities. Attach additional sheets if necessary. See Related persons in the instructions to determine if an entity is related. Name EIN Schedule G – Valid business purpose for QEZEs first certified prior to August 1, 2002 (see instructions) If you are claiming that the QEZE was formed for a valid business purpose, mark an X in the box and attach a notarized   statement describing in detail how your QEZE meets the valid business purpose test. .................................................................... 464003230094 Page 4 of 7  CT-604 (2023) This page was intentionally left blank. Section 2 begins on page 5. 464004230094 CT-604 (2023)  Page 5 of 7 Claim for QEZE Tax Reduction Credit Section 2 – For QEZEs first certified on or after April 1, 2005 (see Important information in the instructions) Note: You must file all pages (1 through 7) with your return. All taxpayers must complete the information above Section 1 on page 1 and then complete either Section 1 (pages 1 through 3) or Section 2 (pages 5 through 7). Do not complete both sections. Legal name of corporation All filers must enter tax period: beginning ending Employer identification number (EIN) Name of empire zone(s) File this form with your corporation franchise tax return Form CT-3, CT-3-A, CT-3-S, CT-33, CT‑33‑NL, or CT-33-A. Date of first certification by Empire State Development (mm-dd-yy; attach copies of all Certificates of Eligibility,   including retention certificates).................................................................................................................................... Schedule H­– Employment test for QEZEs first certified on or after April 1, 2005 (see instructions) Part 1 – EZ employment – Computation of the employment number within all EZs for the current tax year and in the four‑year base period: Include employees within all EZs even if you are not certified in all of those zones (see instructions). Current tax year employment number March 31 June 30 September 30 December 31 Total Number of full-time employees within all EZs 31 Current tax year employment number within all EZs (do not round; see instructions)............................ 31 Base period employment number Tax year ending March 31 June 30 September 30 December 31 Total (mm-yy) a Number in base year 1 b Number in base year 2 c Number in base year 3 d Number in base year 4 e Total number of full-time employees within all EZs in the base period......................................................... 32 Base period employment number within all EZs (do not round; see instructions)................................... 32 33 Does the amount on line 31 exceed the amount on line 32? (see instructions)...................................... 33 Yes No Part 2 – New York State employment – Computation of the employment number in New York State for the current tax year and in the four‑year base period (see instructions) Current tax year employment number March 31 June 30 September 30 December 31 Number of full-time employees in New York State 34 Current tax year employment number in New York State (do not round)............................................. 34 Base period employment number Tax year ending March 31 June 30 September 30 December 31 (mm-yy) a Number in base year 1 b Number in base year 2 c Number in base year 3 d Number in base year 4 e Total number of full-time employees in New York State in the base period.................................................. 35 Base period employment number in New York State (do not round).................................................... 35 Total Total 36 Does the amount on line 34 exceed the amount on line 35? (see instructions)..................................... 36 Yes 464005230094 No Page 6 of 7  CT-604 (2023) Schedule I – Computation of test year employment number within the EZs in which you are certified Test year to (mm-yy) March 31 June 30 September 30 December 31 Total Number of full-time employees within the EZs 37 Test year employment number within the EZs in which you are certified (see instructions)................. 37 Schedule J – Employment increase factor (see instructions) 38 39 40 41 42 43 Current tax year employment number within the EZs in which you are certified (see instructions)...... Test year employment number within the EZs in which you are certified (from line 37)......................... Subtract line 39 from line 38................................................................................................................ Divide line 40 by line 39 (carry result to four decimal places; if line 39 is zero and line 38 is greater than zero, enter 1.0 here).... Divide line 40 by 100 (carry result to four decimal places)......................................................................... Employment increase factor (enter the greater of line 41 or 42, but not more than 1.0; also enter on line 51). 38 39 40 41 42 43 Schedule K – Zone allocation factor (see instructions) A EZ B New York State 44 Average value of property (see instructions)..................................................... 44 45 EZ property factor (divide line 44, column A by line 44, column B; carry result   to four decimal places).................................................................................... 45 46 Wages and other compensation of employees, excluding general   executive officers (see instructions)............................................................... 46 47 EZ payroll factor (divide line 46, column A by line 46, column B; carry result   to four decimal places).................................................................................... 47 48 Total EZ factors (add lines 45 and 47)............................................................... 48 49 Zone allocation factor (divide line 48 by two; carry result to four decimal   places; enter here and on line 52).................................................................... 49 (continued) 464006230094 CT-604 (2023)  Page 7 of 7 Schedule L – QEZE tax reduction credit (New York S corporations do not complete Schedule L; see instructions) Part 1 – Computation of QEZE tax reduction credit 50 51 52 53 54 Tax year of the business tax benefit period ; benefit period factor (see instructions)............. 50 Employment increase factor (from line 43)............................................................................................. 51 Zone allocation factor (from line 49)..................................................................................................... 52 Tax factor (see instructions).................................................................................................................. 53 QEZE tax reduction credit (multiply line 50 by line 51 by line 52 by line 53).............................................. 54 Part 2 – Application of QEZE tax reduction credit (see instructions) 55 Enter your franchise tax before credits (see instructions) .................................................................... 55 56 Tax credits claimed before the QEZE tax reduction credit (if applying multiple credits on your   franchise tax return, see instructions).................................................................................................... 56 57 Subtract line 56 from line 55.............................................................................................................. 57 58 Enter appropriate tax: Article 9-A – If line 49 equals 1.0, enter 0. If line 49 is less than 1.0, see instructions Article 33 – Enter 250 Article 33 combined – Multiply number of taxable filers in combined group by 250........................... 58 59 Credit limitation (subtract line 58 from line 57)........................................................................................ 59 60 QEZE tax reduction credit used (see instructions)................................................................................ 60 Schedule M – Related entities List the names and EINs of any related business entities. Attach additional sheets if necessary. See Related persons in the instructions to determine if an entity is related. Name 464007230094 EIN
Extracted from PDF file 2023-new-york-form-ct-604.pdf, last modified September 2023

More about the New York Form CT-604 Corporate Income Tax Tax Credit TY 2023

You must file all pages (1 through 7) with your return. All taxpayers must complete the information below and then complete either Section 1 (pages 1 through 3) or Section 2 (pages 5 through 7). Do not complete both sections.

We last updated the Claim for QEZE Tax Reduction Credit in January 2024, so this is the latest version of Form CT-604, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-604 directly from TaxFormFinder. You can print other New York tax forms here.

Related New York Corporate 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 Form CT-604.

Form Code Form Name
Form CT-604-CP Claim for QEZE Credit for Real Property Taxes and QEZE Tax Reduction Credit for Corporate Partners

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 Form CT-604 from the Department of Taxation and Finance in January 2024.

Show Sources >

Form CT-604 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-604

We have a total of thirteen past-year versions of Form CT-604 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form CT-604

Form CT-604 Claim for QEZE Tax Reduction Credit Tax Year 2023

2022 Form CT-604

Form CT-604 Claim for QEZE Tax Reduction Credit Tax Year 2022

2021 Form CT-604

Form CT-604 Claim for QEZE Tax Reduction Credit Tax Year 2020

2020 Form CT-604

Form CT-604 Claim for QEZE Tax Reduction Credit Tax Year 2020

2019 Form CT-604

Form CT-604:2019:Claim for QEZE Tax Reduction Credit:ct604

2018 Form CT-604

Form CT-604:2018:Claim for QEZE Tax Reduction Credit:ct604

2017 Form CT-604

Form CT-604:2017:Claim for QEZE Tax Reduction Credit:CT604

2016 Form CT-604

Form CT-604:2016:Claim for QEZE Tax Reduction Credit:CT604

2015 Form CT-604

Form CT-604:2015:Claim for QEZE Tax Reduction Credit:CT604

Claim for QEZE Tax Reduction Credit 2014 Form CT-604

Form CT-604:2014:Claim for QEZE Tax Reduction Credit:CT604

Claim for QEZE Tax Reduction Credit 2013 Form CT-604

Form CT-604:2013:Claim for QEZE Tax Reduction Credit:CT604

2012 Form CT-604

Form CT-604:2012:Claim for QEZE Tax Reduction Credit:CT604

2011 Form CT-604

Form CT-604:2011:Claim for QEZE Tax Reduction Credit:CT604


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