Instructions For Form Ct-603 - Claim For Ez Investment Tax Credit And Ez Employment Incentive Credit - New York State Department Of Taxation And Finance - 2004 Page 2
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4Page 2 of 4 CT-603-I (2004)
New York S corporations: If the amount on line 3 is greater
Industrial waste treatment facilities are facilities for the
than the amount on line 4, subtract line 4 from line 3. This is
treatment, neutralization, or stabilization of industrial waste
the amount of your EZ-ITC. Include this amount on
and other wastes (as the terms industrial waste and other
Form CT-34-SH, New York S Corporation Shareholders’
wastes are defined in Environmental Conservation Law
Information Schedule . If the amount on line 4 is greater than
section 17-0105) from a point immediately preceding the
the amount on line 3, you have a net EZ-ITC recapture;
treatment, neutralization, or stabilization to the point of
subtract line 3 from line 4. Include this amount on
disposal. This property includes the necessary pumping and
Form CT-34-SH.
transmitting facilities, but excludes facilities installed for the
primary purpose of salvaging materials that are usable in
II
Part
— Computation of EZ employment incentive
the manufacturing process or are otherwise marketable.
credit (EZ-EIC)
Attach the certificate of compliance concerning industrial
Line 10
waste treatment facilities and industrial waste treatment
controlled process facilities (Environmental Conservation
New York C corporations: If the amount on line 8 is greater
Law section 17-0707).
than the amount on line 9, subtract line 9 from line 8. This is
the amount of your EZ-EIC. If the amount on line 9 is
Air pollution control facilities are facilities that remove,
greater than the amount on line 8, you have a net
reduce, or render less noxious air contaminants emitted
recaptured EZ-EIC; subtract line 8 from line 9. Add this
from an air contamination source (as the terms air
recaptured credit amount back to the tax due on your
contaminant and air contamination source are defined in
franchise tax return.
Environmental Conservation Law section 19-0107) from a
point immediately preceding the removal, reduction, or
New York S corporations: If the amount on line 8 is greater
rendering to the point of discharge of air meeting emission
than the amount on line 9, subtract line 9 from line 8. This is
standards as established by the Department of
the amount of your EZ-EIC. Include this amount on
Environmental Conservation. The term also includes flue
Form CT-34-SH. If the amount on line 9 is greater than the
gas desulfurization equipment and attendant sludge
amount on line 8, you have a net EZ-EIC recapture; subtract
disposal facilities, fluidized bed boilers, precombustion coal
line 8 from line 9. Include this amount on Form CT-34-SH.
cleaning facilities or other facilities. It does not include
facilities installed primarily to salvage materials that are
Schedule B
usable in the manufacturing process or are marketable, or
that rely for their efficacy on dilution, dispersion, or
Part
I
— Computation of EZ-EIC and EZ-ITC used
assimilation of air contaminants in the ambient air after
(New York C corporations only)
emission. Attach the certificate of compliance concerning
air pollution control facilities and air pollution controlled
Use Column A to determine the amount of EZ-EIC that
process facilities (Environmental Conservation Law
may be applied in the current period.
section 19-0309).
Use Column B to determine the amount of EZ-ITC that
Research and development property is property used for
may be applied in the current period.
research and development in the experimental or laboratory
sense, but not for the ordinary testing or inspection of
Line 11
materials or products for quality control, efficiency surveys,
Column A — Enter your franchise tax from Form CT-3,
management studies, consumer surveys, advertising,
General Business Corporation Franchise Tax Return,
promotions, or research in connection with literary, historical
line 78, or CT-3-A, General Business Corporation Combined
or similar projects.
Franchise Tax Return, line 77, minus the total amount of any
tax credits you are claiming before the EZ-EIC. If you wish
Line instructions
to apply the EZ-ITC before the EZ-EIC, be sure to also
New York C corporations: Complete all applicable
subtract the EZ-ITC used this period (shown on line 15,
schedules.
Column B). Certain credits must be applied before the
EZ-EIC. Refer to the instructions of your franchise tax return
New York S corporations: Do not complete Schedule B.
to determine the order of credits that applies. Article 9-A
Schedule A
taxpayers may also refer to Form CT-600, Ordering of
Corporation Tax Credits , for the order of credits that apply.
I
Part
— Computation of EZ investment tax credit
(EZ-ITC)
Column B — Enter your franchise tax from Form CT-3,
line 78, or CT-3-A, line 77, less the total amount of any tax
Line 5
credits you are claiming before the EZ-ITC. If you wish to
New York C corporations: If the amount on line 3 is
apply the EZ-EIC before the EZ-ITC, be sure to also
greater than the amount on line 4, subtract line 4 from line 3.
subtract the EZ-EIC used this period (shown on line 15,
This is the amount of your EZ-ITC. If the amount on line 4 is
Column A). Certain credits must be applied before the
greater than the amount on line 3, you have a net
EZ-ITC. Refer to the instructions of your franchise tax return
recaptured EZ-ITC; subtract line 3 from line 4. Add this
to determine the order of credits that applies. Article 9-A
recaptured credit amount back to the tax due on your
taxpayers may also refer to Form CT-600 for the order of
franchise tax return.
credits that apply.
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