CT-607: Claim for Excelsior Jobs Program Tax Credit (2025)
New York · NY DTF · Used for tax years 2025
Form CT-607 is used by corporations to claim New York’s Excelsior Jobs Program Tax Credit. It reports credit components for jobs, investment, research and development, real property, and child care services, including amounts allocated from partnerships. It also reports recapture
Who files this form
Corporations claiming the Excelsior Jobs Program Tax Credit use Form CT-607 and file it with Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, or CT-33-NL.
The form also includes reporting for corporate partners claiming credits allocated by partnerships and for New York S corporations.
What you'll need
Have these documents and details ready:
- A copy of the certificate or certificates of tax credit issued by Empire State Development (ESD). You must submit the copy with your claim.
- The corporation’s applicable tax return: Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, or CT-33-NL.
- The corporation’s legal name, employer identification number (EIN), and tax period beginning and ending dates.
- The certificate number, project number, and year of eligibility.
- For Green CHIPS projects, the phase shown on the ESD tax credit certificate.
- If claiming partnership credits, each partnership’s name, EIN, and credit amounts allocated to the corporation.
How to file
File Form CT-607 with your applicable return: Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, or CT-33-NL. Also submit a copy of the tax credit certificate or certificates issued by ESD.
Corporate partners must mark box C and complete the partnership information. Submit additional forms if needed for that information.
The supplied form does not state a mailing address or provide e-filing directions.
Common mistakes
- Leaving the tax period blank. All filers must enter the beginning and ending dates.
- Omitting the ESD certificate copy. The form requires you to submit it with your claim.
- Missing the corporate partner checkbox. Mark box C if claiming the credit as a corporate partner.
- Completing the wrong schedules as a New York S corporation. New York S corporations complete Schedule F only when reporting a recapture and do not complete Schedule G.
- Omitting extra partnership information. Submit additional forms if necessary.
Questions people ask
Which credit components does Form CT-607 cover?
It covers the Excelsior jobs, investment, research and development, real property, and child care services tax credit components.
Can unused credit be refunded or applied to next year’s tax?
Schedule G provides for unused credit to be refunded or applied as an overpayment to next year’s tax. The refund on line 31 is limited to the unused credit on line 30. New York S corporations do not complete Schedule G.
How do I report credits allocated by partnerships?
Mark box C and enter each partnership’s name, EIN, and allocated credit amounts in the partnership information section. Total each credit component on line 33 and transfer the totals to lines 2, 5, 8, 11, and 14, as applicable.
What extra information is required for a Green CHIPS project?
On line B1, indicate Phase 1 or Phase 2 as shown on the tax credit certificate issued by ESD.