CT-248: Claim for Empire State Film Production Credit (2024)
New York · NY DTF · Used for tax years 2024
Form CT-248 is used by corporations to claim New York’s Empire State Film Production Credit. It reports credit available for the current year, including amounts allocated from partnerships, and amounts to be claimed in succeeding years. For corporations other than New York S corp
Who files this form
Form CT-248 is for corporations claiming the Empire State film production credit. File it with Form CT-3, CT-3-A, or CT-3-S.
The form also covers credits allocated by partnerships. If you are claiming the credit as a corporate partner, mark an X in box C.
New York S corporations do not complete Part 2.
What you'll need
- Your corporation’s Form CT-3, CT-3-A, or CT-3-S, which you file with Form CT-248.
- A copy of your certificate of tax credit, which you must submit. Use the certificate for the certificate number and, if applicable, the credit allocation year.
- Your corporation’s legal name, employer identification number (EIN), and tax period beginning and ending dates.
- If claiming partnership credits, each partnership’s name, EIN, and allocated credit amount. If applicable, use the partnership’s certificate of tax credit for its credit allocation year.
The form directs you to read Form CT-248-I, Instructions for Form CT-248, before completing it.
How to file
File Form CT-248 with Form CT-3, CT-3-A, or CT-3-S, and submit a copy of your certificate of tax credit. The supplied form does not give a mailing address or e-file directions.
- Enter your tax period, corporation’s legal name, and EIN.
- Complete Part 1 to calculate the credit available for the current tax year.
- Complete Part 2 to calculate the credit used, refunded, or applied to next year’s tax, unless you are a New York S corporation.
- Report partnership allocations in Part 3 and submit additional forms as necessary. Enter the total from line 15 on line 4.
- Part 4 provides lines for credit amounts to be claimed for 2025 and 2026 and directs you to the line 2 instructions.
Common mistakes
- Leaving the tax period blank. All filers must enter beginning and ending dates.
- Filing without the required copy of the certificate of tax credit.
- Completing Part 2 as a New York S corporation. The form says not to complete this part.
- Leaving line 7 blank when no other tax credits were claimed before this credit. Enter 0.
- Entering a negative amount on line 10 when line 8 is less than line 9. Enter 0 instead.
- Requesting a refund on line 13 that exceeds the amount on line 12.
Questions people ask
Can I include credit available from prior years?
Yes. Enter credit available from prior years on line 3. It is included in the total available credit on line 5.
How much credit can I use this year?
For filers completing Part 2, line 11 is the lesser of the available credit on line 5 or the limitation on line 10. Enter that amount on your franchise tax return as well.
Can I request a refund or apply credit to next year’s tax?
Part 2 provides both options. Line 12 calculates the credit available for refund. Enter the amount you want refunded on line 13, limited to line 12. Line 14 is the remaining amount to apply to next year’s tax. New York S corporations do not complete Part 2.
Where do I report credit from a partnership?
Report the partnership information and allocated credit in Part 3. Enter the total on line 15 and carry it to line 4. Corporate partners must also mark box C.