CT-48: Utility COVID-19 Debt Relief Credit (2024)
New York · NY DTF · Used for tax years 2024
Form CT-48 is used to claim New York’s Utility COVID-19 Debt Relief Credit for 2024. It reports the total credit, including amounts allocated from partnerships, and calculates how much is used against current-year tax, refunded, or applied to next year’s tax.
Who files this form
Form CT-48 is used to claim the Utility COVID-19 Debt Relief Credit for calendar year 2024. File it with Form CT-186-E or CT-186-P.
If you are claiming the credit as a corporate partner, mark an X in box A.
What you'll need
Have these forms and details available:
- The corporation’s legal name and employer identification number (EIN).
- The required Utility COVID-19 debt relief credit authorization code.
- Your credit amount and any tax credits claimed before this credit.
- Form CT-186-E or CT-186-P, which supplies the tax due amount for line 4.
- If you received a credit allocation from a partnership, the partnership’s name, EIN, and allocated credit amount.
How to file
File Form CT-48 with Form CT-186-E or CT-186-P.
The supplied form text does not give a mailing address or e-filing instructions.
Common mistakes
- Do not leave field B blank. The form states that the credit authorization code is required.
- Do not omit the accompanying return. The form directs you to file it with Form CT-186-E or CT-186-P.
Questions people ask
How do I report credit allocated by a partnership?
Enter each partnership’s name, EIN, and allocated credit amount in the partnership information section. Add the column C amounts on line 2. If claiming the credit as a corporate partner, mark an X in box A.
How is the total credit calculated?
Add the credit on line 1 and the total partnership credit on line 2. Enter the result on line 3.
How much credit can I use for the current tax year?
Line 7 is the lesser of your total credit on line 3 or your tax after all other credits on line 6. Line 6 is line 4 minus line 5.
Can I request a refund or apply credit to next year’s tax?
Yes. Subtract line 7 from line 3 to find the amount available for refund on line 8. Enter the amount you want refunded on line 9, limited to line 8. The remaining amount, line 8 minus line 9, goes on line 10 to be applied to next year’s tax.