Form Ct-604 - Claim For Qeze Tax Reduction Credit - 2014 Page 3
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7CT-604 (2014) Page 3 of 7
Schedule E – QEZE tax reduction credit
(New York S corporations do not complete Schedule E; see instructions)
Part 1 – Computation of QEZE tax reduction credit
20 Tax year of the business tax benefit period
; benefit period factor (
........... 20
from table below)
21 Employment increase factor
............................................................................................ 21
(from line 13)
22 Zone allocation factor
....................................................................................................
22
(from line 19)
23 Tax factor
.................................................................................................................
23
(see instructions)
24 QEZE tax reduction credit
.............................................
24
(multiply line 20 by line 21 by line 22 by line 23)
Part 2 – Application of QEZE tax reduction credit
(see instructions)
25 Enter your franchise tax before credits
25
...................................................................
(see instructions)
26 Tax credits claimed before the QEZE tax reduction credit
(if applying multiple credits on your
...................................................................................................
26
franchise tax return, see instructions)
27 Subtract line 26 from line 25..............................................................................................................
27
28 Enter appropriate tax:
Article 9-A – If line 19 equals 1.0, enter 0. If line 19 is less than 1.0, enter your fixed dollar minimum tax
Articles 32 and 33 – Enter 250
Article 33 combined – Multiply number of taxable filers in combined group by 250 ..........................
28
29 Credit limitation
.......................................................................................
29
(subtract line 28 from line 27)
30 QEZE tax reduction credit used
..............................................................................
30
(see instructions)
* For taxpayers first certified prior to April 1, 2005, the QEZE tax
Benefit period factor table*
reduction credit is generally available for up to 14 years for taxpayers
that continue to qualify.
Tax year of
Benefit period
Tax year of
Benefit period
benefit period
factor **
benefit period
factor **
**For an owner of a qualified investment project or a significant capital
investment project, the benefit period factor will be 1.0 during the
1 - 10
1.0
13
0.4
entire business tax benefit period.
11
0.8
14
0.2
Find the tax year of your business tax benefit period. Enter the benefit
12
0.6
15
0.0
period factor for that year (from Benefit period factor table) on line 20.
Schedule F – Related entities
List the names and EINs of any related business entities. Attach additional sheets if necessary.
See Related persons in the instructions to determine if an entity is related.
Name
EIN
Schedule G – Valid business purpose for QEZEs first certified prior to August 1, 2002
(see instructions)
If you are claiming that the QEZE was formed for a valid business purpose, mark an X in the box and attach a notarized
statement describing in detail how your QEZE meets the valid business purpose test. ...................................................................
464003140094
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