Form Ct-501 - Temporary Deferral Nonrefundable Payout Credit

Form Ct-501 - Temporary Deferral Nonrefundable Payout Credit - 2014 Page 2

Page 2 of 2 CT-501 (2014)

Line 3 – If you are claiming more than one tax credit for this

year, enter the amount of credits claimed before applying this

credit; otherwise, enter 0. You must apply certain credits before

the temporary deferral nonrefundable payout credit. Refer to the

instructions of your franchise tax return to determine the order of

credits that applies.

Article 9-A filers: Refer to Form CT-600-I, Instructions for

Form CT-600, for the order of credits.

If you are included in a combined return, include any amount of

tax credits being claimed by other members of the combined

group, including the temporary deferral nonrefundable payout

credit, that you want to apply before the temporary deferral

nonrefundable payout credit.

CT-33 and CT-33-A filers, including unauthorized insurance

corporations: Do not enter on this line any amount of empire

zone (EZ) wage tax credits, zone equivalent area (ZEA) wage

tax credits, or EZ capital tax credits you may be claiming. If you

are included in a combined return, do not include any amount

of these tax credit(s) being claimed by other members of the

combined group.

Line 5 – Enter the amount using the Lines 2 and 5 entries table

above.

Line 7 – Enter the lesser of line 1 or line 6. Transfer this amount

to your franchise tax return.

Line 8 – You will need this amount to complete your 2015

Form CT-501.

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See Form CT-1, Supplement to Corporation Tax Instructions.

535002140094

Form Ct-501 - Temporary Deferral Nonrefundable Payout Credit - 2014 Page 2