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CT-46-ATT (2004) (back)

Instructions

Purpose of form

Schedule A — Rehabilitation expenditures for retail

enterprises

Use Form CT-46-ATT to claim a credit for the rehabilitation

expenditures of retail enterprises (Schedule A) or historic barns

Provide the information required in columns A, B, C, and D.

(Schedule B). If you qualify for either credit, or both, complete

Attach a separate page if you need more space. Enter in column

the applicable schedule and attach this form to Form CT-46.

E the portion of the qualified rehabilitation expenditures paid or

incurred for that part of the building employed in retail sales

The provisions for recapture applicable to investment tax credit

activity.

property (section 210.12(g)) also apply to these credits. Refer to

the instructions for computing recapture amounts in Schedule D

Schedule B — Rehabilitation expenditures for historic

on Form CT-46.

barns

Credit for rehabilitation expenditures for retail enterprises

Questions 3 and 4 — If a barn is listed in the National Register,

Section 210.12(k) allows a credit for qualified rehabilitation

or a barn is located in a registered historic district and is of

expenditures, as defined in IRC section 47(c)(2). In addition to

historic significance to the district, the barn is a certified historic

qualifying for the federal credit, the taxpayer must be a retail

structure. A certified historic structure must have a rehabilitation

enterprise.

certified by the federal Secretary of Interior or the New York

State Office of Parks, Recreation and Historic Preservation. If

A retail enterprise is a taxpayer registered as a vendor under

the barn for which a credit is claimed is a certified historic

Tax Law Article 28, and is at least 50% engaged in retail sales

structure, attach the appropriate certification. For more

as defined in section 1101(b)(4)(i).

information, see TSB-M-97(5)(C).

The rehabilitated property must be located in New York State.

Questions 5 and 7 — Attach documentation that the historic

The credit is limited to the portion of the expenditures

appearance of the barn has not been materially altered and,

attributable to the property employed in retail sales.

where appropriate, documentation that the barn is of no historic

Credit for rehabilitation expenditures for historic barns

significance to a registered historic district. One acceptable form

of documentation is a letter from the Office of Parks, Recreation

Section 210.12(l) allows a credit for qualified rehabilitation

and Historic Preservation. Documentation that a federal

expenditures, as defined in IRC section 47(c)(2), paid or

rehabilitation credit of 10% or 20% has been allowed for a barn

incurred for any barn located in New York State that is a

is another acceptable form of documentation.

qualified rehabilitated building, as defined in IRC

section 47(c)(1).

Questions 8 and 9 — To qualify for the credit, a barn must have

been substantially rehabilitated. To determine whether a barn

A barn must be a building originally designed and used for

has been substantially rehabilitated, the expenditures incurred

storing farm equipment or agricultural products, or for housing

to rehabilitate the barn during a measurement period selected

livestock. No rehabilitation credit is allowed for a barn converted

by the taxpayer must exceed the greater of the adjusted basis of

to a residence or a barn whose historic appearance has been

the barn or $5,000. The measurement period is a 24-month

altered.

period selected by the taxpayer and ending with or within the tax

A barn must either have been placed in service before 1936, or,

year. If the rehabilitation could reasonably be expected to be

if placed in service after that time, a barn must be a certified

completed in phases set forth in architectural plans and

historic structure listed in the National Register of Historic

specifications completed before the rehabilitation begins, the

Places, or located in a registered historic district certified by the

measurement period may be 60 months long. You may be

Secretary of the Interior.

required to submit documentation of the architectural plans and

specifications at a later date. The adjusted basis is generally

Expenditures for the enlargement of a barn do not qualify for

determined as of the beginning of the first day of the

the credit. However, a barn will not be disqualified from the

measurement period.

credit because it has been enlarged. In such cases, the total

expenditures paid or incurred for rehabilitation must be

Provide the information required in columns A, B, and C. Attach

apportioned to exclude those expenditures attributable to the

a separate page if you need more space.

enlargement.

Column D — Enter in column D the amount of qualified

For detailed information concerning qualified rehabilitated

rehabilitation expenditures paid or incurred for a qualified

expenditures, qualified rehabilitated buildings, alteration of the

rehabilitated barn.

historic appearance of a barn, certified historic structures,

registered historic districts, and enlargement of a barn, refer to

If the expenditures include the cost of enlarging a barn and can

TSB-M-97(5)(C), A Credit for Rehabilitation of Historic Barns .

be separately accounted for, exclude the expenditures

attributable to the enlargement. Otherwise, on a separate page,

Computation of tax credit(s)

show the total expenditures (including the enlargement) and the

apportionment method to exclude the expenditures for the

Complete Schedule A or B (or both) as appropriate, and enter the

enlargement (as prescribed in TSB-M-97(5)(C)) that was used

total credits computed on Form CT-46, lines 3 and 4.

to arrive at the amount of rehabilitation expenditures entered in

this column.

47602040094

Instructions For Form Ct-46-Att - Credit For Rehabilitation Expenses For Retail Enterprises And Historic Barns - New York State - 2004

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