Ct-249, 2011, Claim For Long-Term Care Insurance Credit Page 2
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1
2Instructions
Page 2 of 2 CT-249 (2011)
Temporary deferral of certain tax credits
Lines 6 and 9 entries table
Section 1
For tax years beginning on or after January 1, 2010, and before
Franchise tax
Enter on line 6 any net
Enter on line 9 the
January 1, 2013, if the total amount of certain credits that you
return filed
recaptured tax credits
amount below
may use to reduce your tax or have refunded to you is greater
plus the amount from
than $2 million, the excess over $2 million must be deferred
to, and used or refunded in, tax years beginning on or after
Form CT-183, line 4 plus
Forms CT-183 and
75
January 1, 2013. For more information about the credit deferral,
Form CT-184, line 3 or 4
CT-184
see Form CT-500, Corporation Tax Credit Deferral.
Form CT-185
Line 6
10
Form CT-186
If you are subject to the credit deferral, you must complete all
Line 5
125
credit forms without regard to the deferral. However, the credit
Form CT-3
Line 78
Line 81 amount
amount that is transferred to your tax return to be applied against
Form CT-3-A
Line 77
Line 80 amount
your tax due or to be refunded to you may be reduced. Follow
Form CT-32
Line 5
250
the instructions for Form CT-500 to determine the amounts to
Form CT-32-A
enter on your tax return.
Line 5
250
Form CT-33
Line 11
250
General information
Form CT-33-A
Line 15
Line 4 plus line 12
Corporate taxpayers who pay premiums for qualifying long-term
Form CT-33-NL
Line 5
250
care insurance policies may claim a credit against the taxes
Section 2
imposed by Article 9, sections 183, 184, 185, 186, 186-a, and
186-e and Articles 9-A, 32, and 33. The credit is equal to 20% of
Tax return filed
Enter on line 6 any net
Enter on line 9 the
recaptured tax credits
the premiums paid during the tax year for the purchase of, or for
amount below
plus the amount from
continuing coverage under, a long-term care insurance policy that
qualifies for the credit pursuant to Insurance Law section 1117.
Form CT-186-E
Line 39 plus line 88
0
(For tax years beginning before January 1, 2004, the credit is
Form CT-186-EZ
Line 24
0
equal to 10% of these premiums.) Individuals use Form IT-249,
Claim for Long‑Term Care Insurance Credit, to claim the credit.
Form CT-186-P
Line 4
0
A qualifying long-term care insurance policy is one that is
Line 6 — Enter your tax before credits using the Lines 6 and 9
• approved by the New York State Superintendent of Insurance
entries table above. The long-term care insurance credit can be
pursuant to Insurance Law section 1117(g); or
applied to taxes as computed on the forms listed in the table
above. However, the credit cannot be applied against both a
• a group contract delivered or issued for delivery outside of
franchise tax return listed in Section 1 and a tax return listed in
New York State that is a qualified long-term care insurance
Section 2.
contract as defined in Internal Revenue Code (IRC)
section 7702B. (Note: IRC section 7702B relates to policies for
Line 7 — If you are claiming more than one tax credit for this
which a federal itemized deduction is allowed.)
year, enter the amount of credits claimed before applying this
credit. Otherwise enter 0. You must apply certain credits before
This credit is not refundable. However, any portion of the credit
the long-term care insurance credit. Refer to the instructions of
that cannot be applied to the tax for the current tax year may be
your franchise tax return to determine the order of credits that
carried forward indefinitely to the following tax year or years.
applies.
The credit may not reduce the tax to less than the following:
Article 9-A filers: Refer to Form CT-600-I, Instructions for
• the applicable minimum tax fixed by Article 9, section 183,
Form CT‑600, for the order of credits.
185, or 186
If you are included in a combined return, include any amount of
• the higher of the tax on minimum taxable income base or fixed
tax credits being claimed by other members of the combined
dollar minimum under Article 9-A
group, including the long-term care insurance credit, that you
• $250 under Article 32 or Article 33
wish to apply before your long-term care insurance credit.
Under Article 9, the credit must first be deducted from the taxes
Life insurance corporations: Do not enter on this line any
imposed by section 183, 185, or 186. Any credit remaining must
amount of empire zone (EZ) wage tax credits, zone equivalent
then be deducted from the taxes imposed by section 184.
area (ZEA) wage tax credits, or EZ capital tax credits you may
be claiming. If you are included in a combined return, do not
The credit is not allowed against the metropolitan transportation
include any amount of these tax credit(s) being claimed by other
business tax (MTA surcharge) under Article 9, 9-A, 32, or 33.
members of the combined group.
Line instructions
Line 9 — Enter the amount using the Lines 6 and 9 entries table
New York S corporations: Complete only lines 1 through
above.
5, and transfer the line 5 amount to the applicable line of
Line 11 — Enter the lesser of line 5 or line 10. If your total credits
Form CT-34-SH, New York S Corporation Shareholders’
from all sources are $2 million or less, enter the amount from
Information Schedule.
line 11 on your franchise tax return.
Line 3 — If you are a corporate partner receiving a long-term
If your total credits from all sources are more than $2 million,
care insurance credit from a partnership, include on line 3 your
you may be subject to the temporary credit deferral. Complete
pro rata share of the long-term care insurance credit passed
line 11 but do not enter the amount from line 11 on your franchise
through to you from the partnership.
tax return. See Form CT-500 to determine the proper amounts to
Enter in the Partnership information area on page 1 the name,
enter on your franchise tax return.
identifying number, and credit amount for each partnership that
Need help? and Privacy notification
passed the credit through to you.
See Form CT-1, Supplement to Corporation Tax Instructions.
49702110094
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