Form Ct-259 - Claim For Fuel Cell Electric Generating Equipment Credit - 2011
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CT-259
New York State Department of Taxation and Finance
Claim for Fuel Cell Electric
Generating Equipment Credit
Tax Law — Article 9, Sections 183, 184, 185; Articles 9-A, 32, and 33
All filers must enter tax period:
beginning
ending
Legal name of corporation
Employer identification number
File this form with Form(s) CT-183, CT-184, CT-185, CT-3, CT-3-A, CT-32, CT-32-A, CT-33, CT-33-A, or CT-33-NL.
Application of fuel cell electric generating equipment credit for the current tax year
1 Fuel cell electric generating equipment credit carryforward from preceding tax year ......................
1.
2 Tax due before credits
...............................................................................................
2.
(see instructions)
3 Tax credits claimed before fuel cell electric generating equipment credit
...............
3.
(see instructions)
4 Net tax
..........................................................................................................
4.
(subtract line 3 from line 2)
5 Minimum tax limitation
5.
...............................................................................................
(see instructions)
6 Credit limitation
6.
.....................................
(subtract line 5 from line 4; if line 5 is greater than line 4, enter 0)
7 Credit used for the current tax year
.........................................................................
7.
(see instructions)
8 Credit to be carried forward
.......................................................................
8.
(subtract line 7 from line 1)
Instructions
Temporary deferral of certain tax credits
• The fixed minimum tax of $250 computed under Article 32
• The fixed minimum tax of $250 under Article 33
For tax years beginning on or after January 1, 2010, and before
January 1, 2013, if the total amount of certain credits that you
Under Article 9, the credit must first be deducted from the taxes
may use to reduce your tax or have refunded to you is greater
imposed by section 183. Any credit remaining may then be
than $2 million, the excess over $2 million must be deferred
deducted from the taxes imposed by section 184.
to, and used or refunded in, tax years beginning on or after
The credit allowed is not refundable. However, any amount of
January 1, 2013. For more information about the credit deferral,
credit not claimed in the current tax year may be carried forward
see Form CT-500, Corporation Tax Credit Deferral.
for an unlimited number of tax years. The credit may not be
If you are subject to the credit deferral, you must complete all
applied against the metropolitan transportation business tax
credit forms without regard to the deferral. However, the credit
(MTA surcharge) under Article 9, 9-A, 32, or 33.
amount that is transferred to your tax return to be applied
against your tax due or to be refunded to you may be reduced.
Line instructions
Follow the instructions for Form CT-500 to determine the
Eligible transportation and transmission corporations and
amounts to enter on your tax return.
cooperative agricultural corporations taxable under Article 9,
section 183, 184, or 185; general business corporations (other
General information
than New York S corporations) taxable under Article 9-A;
Effective for tax years beginning on or after January 1, 2009,
banking corporations taxable under Article 32; and insurance
the fuel cell electric generating equipment credit expired. Fuel
corporations taxable under Article 33 complete this form.
cell electric generating equipment credit carryforwards may still
New York S corporations: Do not complete this form.
be utilized; however, no additional fuel cell electric generating
Shareholders must claim any credit carryforward from preceding
credit can be earned in any tax year beginning on or after
tax years on Form IT-259, Claim for Fuel Cell Electric Generating
January 1, 2009.
Equipment Credit.
Credit amount
Application of fuel cell electric generating
The credit cannot reduce the tax to less than the following
equipment credit for the current tax year
minimum taxes:
Line 2 — Enter your tax before credits using the Lines 2 and 5
• The fixed minimum tax under Article 9, sections 183 and 185
entries table.
• The larger of the tax on minimum taxable income (MTI) base
or fixed dollar minimum tax as computed under Article 9-A
52401110094
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