CT-604-CP: Claim for QEZE Credit for Real Property Taxes and QEZE Tax Reduction Credit for Corporate Partners (2024)
New York · NY DTF · Used for tax years 2024
Form CT-604-CP is used by corporate partners to claim the qualified empire zone enterprise (QEZE) credit for real property taxes and the QEZE tax reduction credit. It reports the corporation’s share of the partnership’s real property tax credit, computes the tax reduction credit,
Who files this form
Form CT-604-CP is for corporate partners claiming the Qualified Empire Zone Enterprise (QEZE) credit for real property taxes, the QEZE tax reduction credit, or both. File it with Form CT-3 or CT-3-A.
What you'll need
Have these documents and details ready:
- A copy of the retention certificate received from the partnership. You must attach it.
- Your corporation’s legal name and employer identification number (EIN), plus the QEZE partnership’s name and EIN.
- Your tax period’s beginning and ending dates.
- Your share of the QEZE credit for real property taxes, obtained from the partnership.
- The benefit period, employment increase, and zone allocation factors obtained from the partnership.
- Your franchise tax return information, tax credits claimed before these credits, and the income or tax-base information requested for the tax factor calculation.
How to file
File Form CT-604-CP with Form CT-3 or CT-3-A. Attach a copy of the retention certificate received from the partnership.
Enter your corporation’s and partnership’s identifying information and the beginning and ending dates of your tax period. Complete the applicable credit calculations on the form.
The supplied form text does not give a mailing address or e-filing directions. Several lines refer to instructions, which were not supplied here.
Common mistakes
Follow these reminders printed on the form:
- Do not leave the tax period blank. All filers must enter beginning and ending dates.
- Do not omit the retention certificate. Attach a copy received from the partnership.
- Do not file this form by itself. File it with Form CT-3 or CT-3-A.
Questions people ask
Which credits does this form cover?
It covers the QEZE credit for real property taxes and the QEZE tax reduction credit for corporate partners.
Where do I get my share of the real property tax credit?
Obtain your share from the partnership and enter it on line 1.
Which tax reduction credit factors come from the partnership?
The partnership supplies the benefit period factor for line 11, the employment increase factor for line 12, and the zone allocation factor for line 13.
How is the QEZE tax reduction credit calculated on the form?
Line 15 multiplies the factors on lines 11, 12, and 13 by the tax factor on line 14. Lines 16 through 21 then determine the credit that can be used for the period.