Form Ct-638 - Start-Up Ny Tax Elimination Credit - 2014
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1
2
3New York State Department of Taxation and Finance
CT-638
START-UP NY Tax Elimination Credit
Tax Law – Article 1, Section 40 and Article 9-A, Section 210.47
All filers must enter tax period:
beginning
ending
Legal name of corporation
Employer identification number (EIN)
File this form with Form CT-3, CT-3-A, or CT-3-S.
A Certificate number from Form DTF-74, Certificate of Eligibility, issued to the approved
START-UP NY business
................................................................................................
(see instructions)
tax benefit period
...........................................
Year of START-UP NY business
(enter a number from 1 to 10; see instructions)
B
............................................................................
If you are claiming this credit as a corporate partner, mark an X in the box
C
Schedule A – Employment test
Computation of the employment number of the approved business and its related persons within New York State for the current tax
year and the year immediately preceding the year in which the business submitted its application to locate in a tax-free NY area.
Current tax year employment number
March 31
June 30
September 30
December 31
Total
Number of employees .....................................
1 Current tax year employment number within New York State
...................................
1
(see instructions)
Tax year immediately preceding
March 31
June 30
September 30 December 31
Total
START-UP NY business application
Tax year ending
Number of
..............
employees ...
(mm-yy)
2 Employment number within New York State for the tax year immediately preceding START-UP NY
business application
..............................................................................................
2
(see instructions)
Computation of the average number of net new jobs in the tax-free NY area for the current tax year.
Current tax year net new jobs
March 31
June 30
September 30
December 31
Total
Number of net new jobs ...................................
3 Net new jobs of the business in the tax-free NY area during the tax year
................
(see instructions)
3
4 Add lines 2 and 3 ................................................................................................................................
4
5 Does the amount on line 1 equal or exceed line 4?
....................................................
(see instructions)
Yes
No
5
If No, you do not qualify for the credit. Do not complete the rest of this form.
Schedule B – Allocation factor
(see instructions)
A
B
Tax-free NY area
New York State
6 Average value of property
...................................................
(see instructions)
6
7 Property factor
(divide line 6, column A, by line 6, column B; round the result to
.................................................................................
7
the fourth decimal place)
8 Wages, salaries, and other compensation of employees
....
(see instructions)
8
9 Wage factor
(divide line 8, column A, by line 8, column B; round the result to the
.......................................................................................
9
fourth decimal place)
10 Total factors
......................................................................... 10
(add lines 7 and 9)
11 Allocation factor
(divide line 10 by two; round the result to the fourth decimal place;
................................................................................ 11
enter here and on line 23)
549001140094
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