CT-501: Temporary Deferral Nonrefundable Payout Credit (2025)
New York · NY DTF · Used for tax years 2025
New York Form CT-501 calculates the temporary deferral nonrefundable payout credit used in the current tax year and the amount carried over to next year. It applies to nonrefundable credits deferred for tax years beginning on or after January 1, 2010, and before January 1, 2013.
Who files this form
Form CT-501 is for corporations claiming the temporary deferral nonrefundable payout credit for nonrefundable credits deferred for tax years beginning on or after January 1, 2010, and before January 1, 2013.
The form starts with the credit carryforward from last year’s Form CT-501. File it with Form CT-3, CT-3-A, or CT-3-S.
What you'll need
Have these forms and details available:
- Last year’s Form CT-501, showing the credit carryforward.
- Form CT-3, CT-3-A, or CT-3-S, which you must file with CT-501.
- Your corporation’s legal name and employer identification number.
- The tax due before credits, credits claimed before this credit, and minimum tax limitation.
The form refers to instructions for several entries, but those instructions are not included in the supplied text.
How to file
File Form CT-501 with Form CT-3, CT-3-A, or CT-3-S.
The supplied form does not state a mailing address or provide e-filing directions.
Questions people ask
Which deferred credits does Form CT-501 cover?
It covers nonrefundable credits deferred for tax years beginning on or after January 1, 2010, and before January 1, 2013.
Where do I find the carryforward to enter on line 1?
Use the temporary deferral nonrefundable payout credit carryforward from last year’s Form CT-501.
How do I calculate the credit limitation on line 6?
Subtract line 5, the minimum tax limitation, from line 4. If the result is zero or less, enter 0.
How do I calculate the amount available to carry over to next year?
Subtract line 7, the credit used for the current tax year, from line 1. Enter the result on line 8.