CT-223: Innovation Hot Spot Deduction (2024)
New York · NY DTF · Used for tax years 2024
Form CT-223 is New York’s Innovation Hot Spot Deduction form for corporations. It reports hot spot and qualified entity details, the tax year being claimed, and income or gain attributable to the hot spot. Attach it to Form CT-225 or CT-225-A.
Who files this form
Complete Form CT-223 if you are:
- A qualified entity located both inside and outside an innovation hot spot;
- A corporate partner of a qualified entity; or
- Both.
If you are a qualified entity located entirely within a hot spot, do not complete this form unless you are a New York S corporation.
What you'll need
Have the following information ready:
- The corporation’s legal name and employer identification number (EIN).
- The innovation hot spot’s name and code.
- The business participation number.
- The EIN of the qualified entity located in the hot spot.
- Whether the entity is subject to the MTA surcharge.
- The tax year being claimed, entered as 1, 2, 3, 4, or 5.
- Income or gain attributable to the hot spot.
The form also directs you to consult Form CT-223-I, Instructions for Form CT-223, before completing it.
How to file
Attach Form CT-223 to Form CT-225 or CT-225-A. The provided form text does not specify a mailing address or an e-file method.
Common mistakes
- Do not complete this form if you are a qualified entity located entirely within a hot spot, unless you are a New York S corporation.
- Review Form CT-223-I before completing the form.
- Remember to attach Form CT-223 to Form CT-225 or CT-225-A.
Questions people ask
What number goes in the “Tax year being claimed” field?
Enter 1, 2, 3, 4, or 5 in field F.
How do I indicate that the entity is subject to the MTA surcharge?
Mark an X in field E if the entity is subject to the MTA surcharge.
What income or gain does the form ask for?
Field G asks for income or gain attributable to the hot spot.
Which EIN belongs in field D?
Enter the EIN of the qualified entity located in the hot spot.