CT-603: Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit (2025)
New York · NY DTF · Used for tax years 2025
Form CT-603 is used to claim New York's empire zone (EZ) investment tax credit and employment incentive credit with a corporation franchise tax return. It reports unused credits from the preceding period, credit recapture, credits used, and amounts available to carry forward.
Who files this form
Form CT-603 is for corporations claiming the Empire Zone investment tax credit (EZ-ITC) and employment incentive credit (EZ-EIC). File it with your corporation franchise tax return, Form CT-3, CT-3-S, or CT-3-A.
The form includes a checkbox for corporations claiming the credit as a corporate partner. It does not provide detailed eligibility rules.
What you'll need
Have these documents and details ready:
- Copies of your Certificate of Eligibility and retention certificate. Both must be attached.
- Your corporation franchise tax return, Form CT-3, CT-3-S, or CT-3-A.
- The EIN shown on page 1 of your tax return, the corporation’s legal name, and the Empire Zone name.
- Your tax period’s beginning and ending dates.
- Unused EZ-ITC and EZ-EIC amounts from the preceding period.
- For Schedule B, franchise tax amounts after earlier credits and the fixed dollar minimum tax from Form CT-3 or CT-3-A, Part 2, line 1c.
- For Schedule C recapture calculations, property descriptions, acquisition dates, dates the property ceased to qualify, property life and unused life in months, and EZ-ITC allowed.
How to file
File Form CT-603 with your corporation franchise tax return, Form CT-3, CT-3-S, or CT-3-A. Attach a copy of both the Certificate of Eligibility and the retention certificate.
Enter your tax period and identifying information. Use Schedule A to calculate net credits or addbacks, Schedule B to calculate credits used and available for carryforward, and Schedule C to calculate recapture. New York S corporations do not complete Schedule B.
The form refers filers to Form CT-603-I for help completing the claim. No mailing address or e-file directions are printed in the supplied form text.
Common mistakes
- Leaving the tax period blank. All filers must enter beginning and ending dates.
- Forgetting to attach the Certificate of Eligibility and retention certificate.
- Missing checkbox A when claiming the credit as a corporate partner. The form also directs corporate partners to the instructions.
- Completing Schedule B as a New York S corporation. The form says not to complete it and directs S corporations to the instructions for lines 2 and 5.
- Carrying a negative line 3 amount to lines 13 and 15. Enter 0 on both lines instead.
- Carrying a negative line 6 amount to lines 16 and 18. Enter 0 on both lines instead.
Questions people ask
Which tax return goes with Form CT-603?
File the claim with Form CT-3, CT-3-S, or CT-3-A.
Do New York S corporations complete Schedule B?
No. The form expressly says New York S corporations do not complete that schedule.
Where do I calculate credits available for carryforward?
Use Schedule B, Part 2. Line 15 shows EZ-ITC available for carryforward, and line 18 shows EZ-EIC available for carryforward.
Where do I report recaptured credits?
Calculate recapture in Schedule C. Enter recaptured EZ-ITC on line 19 and line 2, and recaptured EZ-EIC on line 20 and line 5. New York S corporations are directed to the instructions for lines 2 and 5.