CT-643: Hire a Veteran Credit (2024)
New York · NY DTF · Used for tax years 2024
Form CT-643 is used by corporations to claim New York’s Hire a Veteran Credit. It calculates credits for wages paid to qualified veterans and qualified disabled veterans, reports credit allocated from partnerships, and determines credit used or carried forward, as applicable.
Who files this form
Form CT-643 is for corporations claiming the Hire a Veteran Credit, either for credit they earned or for a share of credit received from a partnership. The form includes separate directions for C corporations and New York S corporations.
File it with Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, or CT-33-NL. All filers must complete line A and enter their tax period.
What you'll need
Have the following information and forms available:
- The corporation’s legal name, employer identification number (EIN), and tax period.
- If claiming credit the corporation earned: the total number of employees claimed, each veteran’s name and Social Security number, employment period, and wages paid.
- The required Form DTF-75 for each veteran for whom you are claiming credit.
- If claiming credit received from a partnership: the partnership’s name, EIN, and allocated credit amount.
- For C corporations completing Schedule D: tax due before credits, credits claimed before this credit, minimum tax, and any unused or expired credit amounts.
- Any unused credit carried over from previous tax years for line 4, if applicable.
How to file
File Form CT-643 with Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, or CT-33-NL. The supplied form does not give a mailing address or e-file directions.
- Enter the corporation’s name, EIN, and tax period. Complete line A to show whether the corporation earned the credit or received it as a corporate partner.
- C corporations that earned the credit: Complete lines B and C, Schedules A and B, Schedule C line 4 if applicable and line 5, and Schedule D.
- C corporations claiming credit as corporate partners: Complete Schedules C and D.
- New York S corporations that earned the credit: Complete lines B and C, Schedules A and B, and Schedule C line 5.
- New York S corporations claiming credit as corporate partners: Complete Schedule C.
For C corporations, enter the credit used this tax year on line 11 and on the franchise tax return.
Common mistakes
- Leaving line A or the tax period blank. The form says all filers must complete both.
- Overlooking Form DTF-75. The form identifies it as required for each veteran for whom credit is claimed. Mark line C if you have the required forms.
- Completing Schedule D as a New York S corporation. The form specifically says New York S corporations do not complete this schedule.
Questions people ask
How is the credit for qualified veterans calculated?
Schedule A uses 15% of wages paid. For each veteran, enter the lesser of that amount or $15,000 for a full-time position, or $7,500 for a part-time position.
How is the credit for qualified disabled veterans calculated?
Schedule B uses 20% of wages paid. For each veteran, enter the lesser of that amount or $20,000 for a full-time position, or $10,000 for a part-time position.
Where do I report credit received from a partnership?
Use Schedule C to list the partnership’s name, EIN, and allocated credit amount. Enter the total credit allocated from partnerships on line 3.
How does a C corporation calculate the credit it can use and carry forward?
Schedule D line 11 uses the lesser of total credit on line 5 or the credit limitation on line 10. Line 12 calculates unused credit. Line 14 subtracts unused expired credit on line 13 from line 12 to determine the amount available to carry over to the next year.