CT-641: Manufacturer's Real Property Tax Credit (2025)
New York · NY DTF · Used for tax years 2025
Form CT-641 is used to compute New York’s Manufacturer’s Real Property Tax Credit and any credit recapture. It reports eligible real property taxes, credit amounts received from partnerships, and, for C corporations, the credit used for the current tax year.
Who files this form
Form CT-641 is for corporations claiming the Manufacturer’s Real Property Tax Credit, either for a credit they earned or for a share of the credit received from a partnership.
The form provides separate directions for C corporations and New York S corporations. It does not explain the eligibility requirements for earning the credit.
What you'll need
Have the information needed to complete the form:
- The corporation’s legal name, employer identification number (EIN), and tax period beginning and ending dates.
- Each property’s physical address and the eligible real property taxes paid for it, if claiming a credit the corporation earned.
- Each partnership’s name, EIN, and allocated credit amount, if claiming a partnership credit.
- Tax due before credits and credits claimed before this credit, if completing Schedule B.
- For any credit recapture, the tax year the credit was allowed, the credit originally allowed, reduced eligible real property taxes, and any share of recapture from partnerships.
How to file
File Form CT-641 with Form CT-3, CT-3-A, or CT-3-S.
All filers must enter their tax period and answer line A. Mark Yes if the corporation earned the credit itself, rather than receiving a share from a partnership.
C corporations
- If line A is Yes, complete Schedules A and B, plus Schedule D if applicable.
- If line A is No and you are claiming as a corporate partner, complete Schedule A, lines 4 through 7, and Schedules B and C, plus Schedule D if applicable.
New York S corporations
- If line A is Yes, complete Schedule A, plus Schedule D if applicable.
- If line A is No and you are claiming as a corporate partner, complete Schedule A, lines 4, 5, and 6, and Schedule C, plus Schedule D if applicable.
- Do not complete Schedule B.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Leaving required entries blank: All filers must enter the tax period and complete line A.
- Completing Schedule B as a New York S corporation: The form expressly says not to complete this schedule.
- Entering a negative amount on line 12: Enter 0 if line 11 is greater than line 10.
- Using the wrong amount on line 13: Enter the lesser of line 7 or line 12, and report that amount on the franchise tax return.
Questions people ask
What credit rate appears on the form?
Schedule A lists a rate of .20, or 20%. Multiply eligible real property taxes on line 1 by that rate to calculate line 3.
Where do I report a credit received from a partnership?
List the partnership’s name, EIN, and credit amount in Schedule C. Enter the total allocated credit on line 14 and carry it to line 4.
How is the credit used for the current year determined?
Schedule B subtracts credits claimed before this credit from tax due before credits, then applies a $25 tax limitation. Line 13 is the lesser of line 7 or line 12. New York S corporations do not complete Schedule B.
Where do I report credit recapture?
Use Schedule D. Add the recaptured credit on line 15 to any partnership share of recapture on line 16. Enter the total on line 17 and carry it to line 6.