Form Ct-250 - Credit For Purchase Of An Automated External Defibrillator

Page 2 of 2 CT-250 (2012)

Instructions

Column C — Enter the cost of the automated external defibrillator listed

Temporary deferral of certain tax credits

in column A. The term cost means the basis of the property as defined

For tax years beginning on or after January 1, 2010, and before

in Internal Revenue Code (IRC) section 1012.

January 1, 2013, if the total amount of certain credits that you may use

Column E — Enter for each automated external defibrillator listed in

to reduce your tax or have refunded to you is greater than $2 million, the

excess over $2 million must be deferred to, and used or refunded in, tax

column A, the lesser of:

years beginning on or after January 1, 2013. For more information about

• the cost of the automated external defibrillator as shown in column C, or

the credit deferral, see Form CT-500, Corporation Tax Credit Deferral.

• the $500 maximum shown in column D.

If you are subject to the credit deferral, you must complete all credit

The credit amount cannot exceed $500 for each unit purchased.

forms without regard to the deferral. However, the credit amount that

is transferred to your tax return to be applied against your tax due

If you purchased more than five automated external defibrillators, list

or to be refunded to you may be reduced. Follow the instructions for

the requested information on a separate sheet and attach the list to this

Form CT-500 to determine the amounts to enter on your tax return.

form.

General information

Line 1 — Use line 1 if you own the automated external defibrillator and

you are claiming the credit for the purchase. Do not include on line 1 a

A taxpayer may claim the credit for the purchase (other than for resale)

credit for purchase of an automated external defibrillator received from

of each automated external defibrillator, as defined under Public Health

a pass-through entity described on line 2.

Law section 3000-b (see

), during the tax year.

Line 2 — If you have a credit for purchase of an automated external

Eligibility

defibrillator from a pass-through entity that is a partnership, enter on

line 2 your pro-rata share of the credit received from the partnership.

The following taxpayers are eligible to claim the credit:

This information should be provided to you by the partnership. The

• General business corporations taxable under Article 9-A

partnership completes Form IT-250, Claim for Credit for Purchase of

an Automated External Defibrillator, and provides each partner with

• Banking corporations taxable under Article 32

their pro-rata share of the credit for purchase of an automated external

• Insurance corporations taxable under Article 33

defibrillator.

Credit amount

If you have pass-through credits from more than one partnership, add

them together and enter the amount on line 2.

The amount of the credit allowed for each automated external

defibrillator purchased (other than for resale) during the tax year is equal

If you have no credit for purchase of an automated external defibrillator

to the lesser of:

from a pass-through entity that is a partnership, enter 0.

• the cost to the taxpayer of the automated external defibrillator, or

Part 2 — Computation of credit used

• $500.

New York S corporations: Do not complete Part 2. Transfer the

There is no limit on the number of automated external defibrillators

line 3 amount to Form CT-34-SH and provide each shareholder with

purchased during the tax year on which the credit may be claimed.

their pro-rata share of the credit. Each shareholder of the New York

However, the credit cannot exceed $500 for each unit purchased. The

S corporation will claim their share of the credit on Form IT-250,

credit cannot reduce the tax to less than the following:

Schedule C. For further information, see Form IT-250-I, Instructions for

Form IT-250.

• the larger of the tax on minimum taxable income base or fixed dollar

minimum tax as computed under Article 9-A;

A credit that originates in a New York S year flows through to the

• the fixed minimum tax of $250 computed under Article 32; or

individual shareholders of the New York S corporation under Article 22,

and the credit cannot be applied against the New York State corporation

• the fixed minimum tax of $250 under Article 33.

franchise tax in a New York S year.

Any amount of the credit not applied against the current tax year may

Line 4 — Enter your franchise tax before credits from the following

not be carried over to the following tax year or years. The credit is not

franchise tax returns, plus any net recaptured tax credits:

refundable. Any amount of the credit not applied against the current

tax year may not be claimed as an overpayment of tax. The credit

• Form CT-3, line 78

cannot be applied against the metropolitan transportation business tax

• Form CT-3-A, line 77

(MTA surcharge) under Article 9-A, 32, or 33.

• Form CT-32, line 5

Definition

• Form CT-32-A, line 5

An automated external defibrillator is a medical device, approved by the

• Form CT-33, line 11

United States Food and Drug Administration, that:

• Form CT-33-A, line 15

• is capable of recognizing the presence or absence, in a patient, of

• Form CT-33-NL, line 5

ventricular fibrillation and rapid ventricular tachycardia;

• is capable of determining, without intervention by an operator,

Line 5 — If you are claiming more than one tax credit for this year, enter

whether defibrillation should be performed on the patient;

the amount of credits claimed before applying this tax credit. Refer to

the instructions of your franchise tax return to determine the ordering of

• upon determining that defibrillation should be performed,

credits.

automatically charges and requests delivery of an electrical impulse

to the patient’s heart; and

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

• then, upon action by an operator, delivers an appropriate electrical

Form CT-600, Ordering of Corporation Tax Credits.

impulse to the patient’s heart to perform defibrillation.

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

Line instructions

credit(s) being claimed by other members of the combined group,

including the automated external defibrillator credit, that you wish to

General business corporations taxable under Article 9-A (other

apply before your automated external defibrillator credit.

than New York S corporations), banking corporations taxable under

Article 32, and insurance corporations taxable under Article 33

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

complete Part 1 and Part 2.

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

(EZ) wage tax credit, zone equivalent area (ZEA) wage tax credit, or EZ

New York S corporations: Complete lines 1, 2, and 3, and include

capital tax credit you may be claiming. If you are included in a combined

the amount from line 3 on Form CT-34-SH, New York S Corporation

return, do not include any amount of these credits being claimed by

Shareholders’ Information Schedule.

other members of the combined group.

Part 1 — Computation of credit

Line 9 — Enter the lesser of line 3 or line 8.

Column A — Enter the name and model number of each automated

If your total credits from all sources are $2 million or less, enter the

external defibrillator (see Definition) that you purchased (other than for

amount from line 9 on your franchise tax return.

resale) during the current tax year.

If your total credits from all sources are more than $2 million, you

Column B — Enter the date that the automated external defibrillator

may be subject to the temporary credit deferral. Complete line 9 but

listed in column A was purchased.

do not enter the amount from line 9 on your franchise tax return.

See Form CT-500 to determine the proper amounts to enter on your

franchise tax return.

Need help? and Privacy notification

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

418002120094

Form Ct-250 - Credit For Purchase Of An Automated External Defibrillator - 2012 Page 2

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