CT-33.2: Life and Health Insurance Company Guaranty Corporation Credit (2024)
New York · NY DTF · Used for tax years 2024
New York Form CT-33.2 calculates the Life and Health Insurance Company Guaranty Corporation Credit available, used, and carried forward. For 2024, the available credit comes from unused credits related to paid assessments issued on or before December 31, 2023.
Who files this form
Corporations using Form CT-33.2 to claim the Life and Health Insurance Company Guaranty Corporation Credit must file it with Form CT-33, CT-33-A, or CT-33-NL.
For tax year 2024, the form provides for unused credits related to paid assessments issued on or before December 31, 2023.
What you'll need
Have the following information available to complete the form:
- The corporation’s legal name and employer identification number (EIN).
- The beginning and ending dates of the tax period.
- Certificate number and dollar amount for Schedule A.
- Unused credits related to paid assessments issued on or before December 31, 2023.
- Tax due before credits, tax credits claimed before this credit, and minimum tax for Schedule B.
File Form CT-33.2 with Form CT-33, CT-33-A, or CT-33-NL.
How to file
File Form CT-33.2 with Form CT-33, CT-33-A, or CT-33-NL. Enter the corporation’s legal name, EIN, and tax period.
For tax year 2024:
- Enter unused credits related to paid assessments issued on or before December 31, 2023, on line 5.
- Enter the amount from line 5 on line 8.
- Complete Schedule B to calculate the credit used and the unused credit available for carryover.
The supplied form does not state a mailing address or an e-filing method.
Common mistakes
- Do not fill in lines 1 through 4, 6, or 7 for tax year 2024. Each is marked “leave blank, not applicable for this year.”
- Do not omit the tax period. The form says all filers must enter its beginning and ending dates.
- Do not file this form by itself. The form directs you to file it with Form CT-33, CT-33-A, or CT-33-NL.
Questions people ask
What amount goes on line 5 for tax year 2024?
Enter unused credits related to paid assessments issued on or before December 31, 2023.
How do I calculate the total credit available?
For tax year 2024, enter the amount from line 5 on line 8.
How is the credit limitation calculated?
Subtract credits claimed before this credit from tax due before credits to get line 11. Then subtract the minimum tax on line 12 from line 11. Enter the result on line 13, or enter 0 if the result is zero or less.
How much credit can I use for this tax year?
Line 14 is the lesser of the total credit available on line 8 or the credit limitation on line 13.
How do I calculate the unused credit available for carryover?
Subtract the credit used on line 14 from the total credit available on line 8. Enter the result on line 15.