CT-635: New York Youth Jobs Program Tax Credit (2024)
New York · NY DTF · Used for tax years 2024
Form CT-635 is used by corporations to claim the New York Youth Jobs Program Tax Credit. It reports credit earned for certified youths or allocated from partnerships and, for C corporations, calculates the credit used, refunded, or applied to next year’s tax.
Who files this form
Form CT-635 is for corporations claiming the New York Youth Jobs Program Tax Credit, either as a corporation that earned the credit or as a corporate partner receiving a share of the credit from a partnership.
The form includes directions for both C corporations and New York S corporations. File it with Form CT-3, CT-3-A, or CT-3-S.
What you'll need
You must submit a copy of the annual final certificate of tax credit issued by the New York State Department of Labor.
Have these details ready to complete the form:
- Your corporation’s legal name, employer identification number (EIN), and tax period.
- If your corporation earned the credit: the certified business’s name and EIN, certificate number, program year, and numbers of certified full-time and part-time youth employees included in the claim.
- If claiming credit allocated from partnerships: each partnership’s name, EIN, and allocated credit amount.
- For C corporations completing Schedule B: tax due before credits, credits claimed before this credit, and minimum tax.
How to file
File Form CT-635 with Form CT-3, CT-3-A, or CT-3-S, and submit a copy of the annual final certificate of tax credit issued by the NYS Department of Labor. The provided form does not specify a mailing address or electronic filing method.
All filers must complete line A and enter their tax period.
- C corporation that earned the credit: Mark Yes on line A. Complete lines B through G and Schedules A and B.
- C corporation claiming a partnership share: Mark No on line A. Complete Schedules A, B, and C.
- New York S corporation that earned the credit: Mark Yes on line A. Complete lines B through G and Schedule A.
- New York S corporation claiming a partnership share: Mark No on line A. Complete Schedules A and C.
For partnership credits, total the allocated amounts on Schedule C, line 13, and enter that total on line 2.
Common mistakes
- Leaving line A blank: All filers must complete it.
- Omitting the certificate: You must submit a copy of the annual final certificate of tax credit issued by the NYS Department of Labor.
- Completing Schedule B as a New York S corporation: The form says New York S corporations must not complete that section.
- Entering a negative credit limitation: If line 6 minus line 7 is zero or less, enter 0 on line 8.
- Claiming too much on line 9 or line 11: Line 9 must be the lesser of line 3 or line 8. The refund on line 11 cannot exceed line 10.
Questions people ask
Do I file CT-635 by itself?
No. File it with Form CT-3, CT-3-A, or CT-3-S, and submit a copy of the annual final certificate of tax credit issued by the NYS Department of Labor.
Where do I find the certificate number and program year?
Use the annual final certificate of tax credit for both the certificate number on line D and the program year on line G.
How do I report credit received from a partnership?
Complete Schedule C with each partnership’s name, EIN, and allocated credit amount. Add the credit amounts on line 13 and enter the total on line 2.
Do New York S corporations complete Schedule B?
No. New York S corporations complete Schedule A and, if claiming credit as a corporate partner, Schedule C. If they earned the credit themselves, they also complete lines B through G.
How does Schedule B handle unused credit?
Line 10 shows unused credit available as a refund or an overpayment. Enter the amount to be refunded on line 11, limited to line 10. The remainder goes on line 12 as an overpayment toward next year’s tax. Enter these amounts on your franchise tax return as directed.