CT-40: Claim for Alternative Fuels Credit (2025)
New York · NY DTF · Used for tax years 2025
New York Form CT-40 is used by corporations to claim the alternative fuels credit. It reports credits from preceding tax years, transfers between affiliates, credit recapture, the amount used, and unused credit carried forward.
Who files this form
Form CT-40 is for corporations claiming the alternative fuels credit. It reports credits from preceding tax years, credits received from or transferred to affiliates, and credit recapture.
If you are claiming the credit as a corporate partner, mark an X in box A. The election to transfer credits in Section 2 is for Article 9-A taxpayers only.
What you'll need
Have the following information ready to complete the form:
- Your corporation’s legal name, EIN, and tax period beginning and ending dates.
- Alternative fuels credit amounts from preceding tax years.
- Franchise tax due before credits and other credits applied for the tax period.
- If reporting recapture: the tax year the credit was allowed, the property’s recovery period, years in service before the recapture year, and the original credit allowed. Corporate partners also report their share of partnership credit recapture.
- If transferring or receiving credits: each affiliate’s name, EIN, tax year, and credit amount, plus the applicable certifications with an authorized person’s signature, official title, corporation name, and date.
How to file
File Form CT-40 with Form CT-183, CT-184, CT-186, CT-3, CT-3-A, or CT-3-S.
Complete Sections 1 and 2, as appropriate, before completing the credit summary. For affiliate credit transfers, complete the applicable certifications and submit additional forms if necessary.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Do not leave the tax period blank. All filers must enter beginning and ending dates.
- Do not skip box A if you are claiming the credit as a corporate partner.
- Complete Sections 1 and 2, as appropriate, before the credit summary.
- On line 12, enter 0 if subtracting line 11 from line 10 gives a negative result.
- Include totals from any additional forms when calculating affiliate credits on lines 21 and 25.
- Follow the form’s references to the instructions, including the special instruction reference for S corporations on line 17.
Questions people ask
Does this form include credits from earlier tax years?
Yes. Line 1 is for alternative fuels credit from preceding tax years.
Can credits be transferred between affiliates?
Section 2 provides an election to transfer credits for Article 9-A taxpayers only. Part A reports credits received from affiliates, and Part B reports credits transferred to affiliates. Both parts include certifications.
Where do I report credit recapture?
Use Section 1 to calculate recapture on alternative fuels vehicle refueling property. Line 16 is for a partner’s share of partnership credit recapture. Line 17 totals recaptured credit and directs you to enter it on line 6, with a separate instruction reference for S corporations.
Where do I report unused credit to carry forward?
Line 14 reports unused credit to be carried forward. Calculate it by subtracting line 13, credit used, from line 7, credit available after transfer and recapture.