Instructions For Form Ct-248 - Claim For Empire State Film Production Credit - New York - 2004
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1CT-248 (2004) (back)
Instructions
Combined filers
General Information
A taxpayer filing a combined return as a member of a combined
For tax years beginning on or after January 1, 2004, Tax Law
group is allowed to claim the film production credit. The film
sections 24 and 210.36 provide for tax credits for the film and
production credit is computed on a separate basis, but is
television production industry. The Empire State film production
applied against the combined tax.
credit (also referred to simply as the film production credit) is
available to taxpayers subject to tax under Article 9-A (general
Line instructions
business corporations) or Article 22 (personal income tax). This
form is for taxpayers subject to tax under Article 9-A. Those
Part I - Computation of film production credit available
subject to tax under Article 22, complete Form IT-248, Claim for
for use
Empire State Film Production Credit.
Line 1 — Obtain this amount from the New York State
The credit is equal to 10% of the qualified production costs paid
Governor’s Office for Motion Picture and Television
or incurred in the production of qualified films and television
Development. Attach your certificate.
shows. The credit may not reduce the tax due below the fixed
Line 2 — Obtain this amount from the partnership(s) allocating
dollar minimum tax. Any amount not used in the current tax year
this credit to you. Also complete Part III, Partnership
may be refunded or credited as an overpayment to next year’s
information, and attach a copy of the partnership’s certificate
tax. The refund is limited to 50% of the excess credit in the
from the New York State Governor’s Office for Motion Picture
current year; the balance may be carried forward to the following
and Television Development.
tax year and may be deducted from the tax in that year. Any
excess after application in the succeeding year may also be
Line 4 — Obtain this amount from the previous tax year’s
refunded or credited as an overpayment to the succeeding tax
Form CT-248, line 14.
year. No interest will be paid on the refund.
Line 5 — New York S corporations include this amount on
The amount of credit allowed for the current tax year is allocated
Form CT-34-SH, line 38.
by the New York State Governor’s Office for Motion Picture and
Television Development. Attach a copy of your certificate from this
Part II — Computation of film production credit used,
office for the credit allowed. For rules and regulations regarding
refunded, and carried forward (New York S corporations
the credit, contact the New York State Governor’s Office for Motion
do not complete this part)
Picture and Television Development at nyfilm@empire.state.ny.us
Line 7 — You must apply certain credits before the film
or call (212) 803-2330.
production credit. Refer to Form CT-600, Ordering of
Corporate partners
Corporation Tax Credits, for the proper ordering of your credits.
If you are claiming more than one credit, enter the total amount
If you are a corporate partner who has film production credits
of credits applied against the current year’s corporation
passed through to you from a partnership, enter your pro rata
franchise tax before the film production credit. If the film
share of the film production credits passed through to you from
production credit is the only credit that is being applied against
the partnership in Part I, line 2. Also, enter the name and
the current year’s corporation franchise tax, enter 0 . If filing as a
employer identification number of the partnership in Part III.
member of a combined group, include any amount of tax
Enter on line 1 only the amount of film production credit
credit(s), including the film production credit(s), being claimed
allocated to your corporation by the New York State Governor’s
by other members of the combined group that you want to apply
Office for Motion Picture and Television Development.
before the film production credit claimed on this form.
New York S corporations
Need help?
New York S corporations will calculate an amount of film
production credit. However, the S corporation may not use the
Internet access:
film production credit against its own tax liability; instead, the
(for information, forms, and publications)
credit is passed through to the shareholders to use against their
Fax-on-demand forms:
1 800 748-3676
personal income tax liabilities on their New York State tax
returns.
Telephone assistance is available from 8:00
to 5:00
A.M.
P.M.
(eastern time), Monday through Friday.
New York S corporations complete only lines 1 through 5. Include
To order forms and publications:
1 800 462-8100
the line 5 amount on line 38 of Form CT-34-SH, New York
Business Tax Information Center:
1 800 972-1233
S Corporation Shareholders’ Information Schedule , which is filed
with your New York State corporation tax return. Attach a copy of
From areas outside the U.S. and outside Canada:
(518) 485-6800
Form CT-248 to your Form CT-3-S or CT-3-S-A.
Hearing and speech impaired (telecommunications device for the
deaf (TDD) callers only): 1 800 634-2110 (8:00
to 5:00
A.M.
P.M.
Provide all shareholders with the amount of their pro rata share
eastern time).
of the film production credit calculated. The shareholders will file
Persons with disabilities: In compliance with the
their own Form IT-248 to claim the credit on their New York
Americans with Disabilities Act, we will ensure that our lobbies,
State personal income tax returns.
offices, meeting rooms, and other facilities are accessible to
persons with disabilities. If you have questions about special
accommodations for persons with disabilities, please call
1 800 972-1233.
51602020094
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