CT-634: Empire State Jobs Retention Program Credit (2025)
New York · NY DTF · Used for tax years 2025
Form CT-634 reports a corporation’s Empire State Jobs Retention Program Credit, including credit received from partnerships and recapture of credit taken in previous years. It also calculates the credit used, refunded, or applied to next year’s tax, except for New York S corporat
Who files this form
Form CT-634 is for corporations claiming the Empire State jobs retention program credit. File it with Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, or CT-33-NL.
Corporate partners claiming the credit must mark an X in box A. The form also includes directions for New York S corporations, which must not complete Schedule B.
What you'll need
Have the following information and documents ready:
- The corporation’s legal name, employer identification number (EIN), and tax period beginning and ending dates.
- Each certificate issued by Empire State Development, including its certificate number. Submit a copy of each certificate with your return.
- If claiming credit from partnerships, each partnership’s name, EIN, and credit amount.
- Amounts needed for the credit calculation, including any recapture of credit taken in previous tax years.
- For Schedule B, tax due before credits, credits claimed before this credit, and minimum tax.
How to file
File Form CT-634 with Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, or CT-33-NL.
Complete the certificate information section and file a separate Form CT-634 for each certificate issued by Empire State Development. Submit a copy of each certificate with your return.
The supplied form text does not give a mailing address or e-file directions.
Common mistakes
- Do not leave the tax period blank. All filers must enter beginning and ending dates.
- Do not skip the certificate information section. It must be completed.
- Do not combine multiple certificates on one Form CT-634. File a separate form for each certificate and submit a copy of each certificate with the return.
- If claiming the credit as a corporate partner, remember to mark box A.
- New York S corporations must not complete Schedule B.
- If the line 10 credit limitation is zero or less, enter 0.
Questions people ask
Do I need a separate form for each certificate?
Yes. File a separate Form CT-634 for each certificate issued by Empire State Development, and submit a copy of each certificate with your return.
Where do I report credit from partnerships?
List each partnership’s name, EIN, and credit amount in the partnership information section. Enter the total on line 15 and carry it to line 2.
Do New York S corporations complete Schedule B?
No. The form specifically says New York S corporations do not complete that section.
Can unused credit be refunded or applied to next year’s tax?
Schedule B provides for both options. Line 12 calculates unused credit available for refund or as an overpayment. The refund on line 13 cannot exceed line 12. Line 14 is the amount applied as an overpayment to next year’s tax, calculated by subtracting line 13 from line 12.