CT-48: Utility COVID-19 Debt Relief Credit (2025)
New York · NY DTF · Used for tax years 2025
New York Form CT-48 calculates the Utility COVID-19 Debt Relief Credit for 2025, including credit allocated from partnerships. It reports the credit used for the current tax year and any amount requested as a refund or applied to next year’s tax.
Who files this form
Form CT-48 is for corporations claiming the Utility COVID-19 Debt Relief Credit for calendar year 2025. File it with Form CT-186-E or Form CT-186-P.
If you are claiming the credit as a corporate partner, mark an X in box A.
What you'll need
Have the following information ready:
- The corporation’s legal name and employer identification number (EIN).
- The required Utility COVID-19 debt relief credit authorization code.
- Your Utility COVID-19 debt relief credit amount.
- Tax due before other credits, from Form CT-186-E, line 88, or Form CT-186-P, line 4.
- The amount of tax credits claimed before this credit.
- If claiming credit allocated from partnerships, each partnership’s name, EIN, and allocated credit amount.
How to file
File Form CT-48 with Form CT-186-E or Form CT-186-P.
Complete Part 1 to calculate your total credit, including any credit allocated from partnerships. Complete Part 2 to calculate the amount used for the current tax year and any remaining amount you want refunded or applied to next year’s tax.
The form text does not provide a mailing address or e-filing directions.
Common mistakes
- Leaving out the authorization code. Field B states that the Utility COVID-19 debt relief credit authorization code is required.
- Filing CT-48 by itself. The form directs you to file it with Form CT-186-E or Form CT-186-P.
Questions people ask
What tax year does this form cover?
This version of Form CT-48 is for calendar year 2025.
How do I report credit allocated from a partnership?
Mark an X in box A if you are claiming the credit as a corporate partner. List each partnership’s name, EIN, and allocated credit amount in the partnership information section. Add the column C amounts and enter the total on line 2.
How much credit can I use for the current tax year?
Line 7 directs you to enter the lesser of your total credit on line 3 or your tax after all other credits on line 6. It also refers you to the instructions.
Can I request a refund or apply credit to next year’s tax?
Yes. Line 8 calculates the credit available for refund by subtracting line 7 from line 3. On line 9, enter the amount you want refunded, limited to line 8. Line 10 is the amount to apply to next year’s tax, calculated by subtracting line 9 from line 8. Lines 9 and 10 also refer you to the instructions.