Instructions For Form Ct-604-Cp - Claim For Qeze Credit For Real Property Taxes And Qeze Tax Reduction Credit For Corporate Partners - New York State Department Of Taxation And Finance - 2004 Page 2
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2CT-604-CP-I (2004) (back)
Line 10 — Any amount of credit not being used or refunded may be
Line 14-C — Enter your entire net income allocated to New York State
claimed as an overpayment of tax. If you wish to have this amount
if the tax on line 14-A was computed on entire net income. Enter your
applied against the metropolitan transportation business tax (MTA
minimum taxable income for Article 9-A, alternative entire net income
surcharge) or the tax liability for next year, transfer this amount to the
for Article 32, or entire net income plus compensation for Article 33 if
appropriate line of your franchise tax return.
the tax on line 14-A was computed on one of these bases.
Line 14-A
Line 17 — If you are applying multiple credits, refer to Form CT-600 or
your tax return instructions to determine the order of credits that
When calculating the tax factor for corporate partners, if the QEZE
applies. If filing Form CT-604, and/or more than one Form CT-604-CP,
partnership has a loss, the tax reduction credit for this QEZE partnership
include any amount of QEZE tax reduction credit that you are claiming
is zero.
that you wish to apply before the QEZE tax reduction credit being
Article 9-A filers — Enter the larger of the tax on the entire net income
claimed on this form. Life insurance corporations do not include EZ
base or the tax on the minimum taxable income base from Form CT-3.
wage tax credit, EZ capital tax credit, or ZEA wage tax credit on this
line.
Article 9-A combined filers — Enter on line 14-A, the product of the
following:
Line 21
1. The amount of combined tax as computed on income (the larger of
Article 9-A filers — Include this amount on your franchise tax return.
the tax on entire net income or minimum taxable income base, as
For Form CT-3, use the box labeled Form CT-604, line 47 under
shown on Form CT-3-A); and
Summary of credits claimed on line 79 against current year’s franchise
tax. If you are filing Form CT-3-A, use the box labeled
2. A ratio, the numerator of which is the amount of income attributable
Form CT-604, line 47 , under Summary of credits claimed on line 78
to the corporation that is the member of the QEZE partnership,
against current year’s franchise tax.
allocated to New York State, and the denominator of which is the
income of the combined group allocated to New York State.
Article 32 filers — Include this amount on your franchise tax return.
Combined groups that have members with net operating losses
For Form CT-32 or CT-32-A, use the box labeled Form CT-604 QEZE
compute the ratio of QEZE income as described above without
tax reduction credit under Summary of tax credits claimed on line 6
including losses in either the numerator or denominator.
against current year’s franchise tax.
If the corporate member of the combined group that is the member of
Article 33 filers — Include this amount on your franchise tax return.
the QEZE partnership has a net operating loss, the tax reduction credit
Use the box labeled Form CT-604 QEZE tax reduction credit under
is zero.
Summary of tax credits claimed against current year’s franchise tax.
Article 32 filers — Enter the larger of the tax on the entire net income
Privacy notification — The Commissioner of Taxation and Finance
base or the tax on the alternative entire net income base from
may collect and maintain personal information pursuant to the
Form CT-32.
New York State Tax Law, including but not limited to, sections 171,
Article 33 Life insurance corporation filers — Enter the larger of the
171-a, 287, 308, 429, 475, 505, 697, 1096, 1142, and 1415 of that Law;
tax on the entire net income base or the entire net income plus
and may require disclosure of social security numbers pursuant to
compensation base from Form CT-33.
42 USC 405(c)(2)(C)(i).
Article 33 Nonlife insurance corporation filers — To claim the QEZE
This information will be used to determine and administer tax liabilities
tax reduction credit, you must calculate a tax factor for the tax year by
and, when authorized by law, for certain tax offset and exchange of tax
preparing a pro-forma tax return calculating a tax on income for the
information programs as well as for any other lawful purpose.
year the credit is claimed. Prepare Form CT-33, Life Insurance
Information concerning quarterly wages paid to employees is provided
Corporation Franchise Tax Return , to calculate the tax on entire net
to certain state agencies for purposes of fraud prevention, support
income and the tax on entire net income plus compensation. Attach the
enforcement, evaluation of the effectiveness of certain employment and
pro-forma tax return to this form. Enter the larger of these tax amounts
training programs and other purposes authorized by law.
on line 14-A.
Failure to provide the required information may subject you to civil or
Line 14-B — Enter your pro rata share of New York partnership
criminal penalties, or both, under the Tax Law.
income derived from the QEZE partnership allocated to New York State.
Partnership income means the partnership items of income, gain, loss
This information is maintained by the Director of Records Management
and deduction, and the associated New York modifications included in
and Data Entry, NYS Tax Department, W A Harriman Campus,
• entire net income if the tax on line 14-A was computed on entire net
Albany NY 12227; telephone 1 800 225-5829. From areas outside the
income; or
United States and outside Canada, call (518) 485-6800.
• minimum taxable income for Article 9-A, alternative entire net income
for Article 32, or entire net income plus compensation for Article 33 if
the tax on line 14-A was computed on one of these bases.
Need help?
To allocate your pro rata share of the QEZE partnership income to
New York State use Worksheet A below:
Internet access:
(for information, forms, and publications)
Worksheet A
Fax-on-demand forms:
1 800 748-3676
a. Enter your pro rata share of QEZE partnership
income included in business income before
Telephone assistance is available from 8:00
to 5:00
A.M.
P.M.
allocation on your New York State corporation
(eastern time), Monday through Friday.
tax return ............................................................... a.
To order forms and publications:
1 800 462-8100
b. Enter your business allocation percentage as calculated
on your New York State corporation tax return .......... b.
Business Tax Information Center:
1 800 972-1233
c. Multiply line a by line b ............................................... c.
From areas outside the U.S. and outside Canada:
(518) 485-6800
d. Enter your pro rata share of QEZE partnership
Hearing and speech impaired (telecommunications device for the deaf
income included in investment income before
(TDD) callers only): 1 800 634-2110 (8:00
to 5:00
eastern time).
A.M.
P.M.
allocation on your New York State corporation
Persons with disabilities: In compliance with the Americans with
tax return .................................................................... d.
Disabilities Act, we will ensure that our lobbies, offices, meeting
e. Enter your investment allocation percentage as
rooms, and other facilities are accessible to persons with
calculated on your New York State corporation
disabilities. If you have questions about special accommodations for
tax return .................................................................... e.
persons with disabilities, please call 1 800 972-1233.
f. Multiply line d by line e ............................................... f.
g. Add line c and line f; enter here and on line 14-B ...... g.
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