CT-660: Empire State Digital Gaming Media Production Credit (2024)
New York · NY DTF · Used for tax years 2024
Form CT-660 calculates the Empire State Digital Gaming Media Production Credit for corporations filing a New York franchise tax return. It reports credit amounts certified by Empire State Development or allocated from partnerships and, for C corporations, calculates the credit us
Who files this form
Form CT-660 is for corporations claiming the Empire State Digital Gaming Media Production Credit, either because they earned the credit or because they received a share of it as a corporate partner in a partnership.
The form includes separate directions for C corporations and New York S corporations. File it with your franchise tax return.
What you'll need
Have the following ready:
- Your corporation’s legal name, employer identification number (EIN), and tax period beginning and ending dates.
- Your certificate of tax credit issued by Empire State Development (ESD). You must submit a copy. The form asks for the entity name and EIN, certificate number, allocation year, and credit amount.
- If claiming credit allocated from a partnership, the partnership’s name, EIN, certificate number, and allocated credit amount.
- If completing Schedule B, your tax due before credits, tax credits claimed before this credit, and fixed dollar minimum tax.
- Any additional Forms CT-660 whose amounts must be included in the totals.
How to file
File Form CT-660 with your franchise tax return and submit a copy of your ESD certificate of tax credit.
- Enter your tax period, corporation’s legal name, and EIN.
- Complete lines A through D. On line A, indicate whether your corporation earned the credit itself rather than receiving it as a corporate partner. Use your ESD certificate for lines B through D.
- Complete the required schedules:
- C corporation that earned the credit: Schedules A and B.
- C corporation claiming as a corporate partner: Schedules A, B, and C.
- New York S corporation that earned the credit: Schedule A.
- New York S corporation claiming as a corporate partner: Schedules A and C.
- If completing Schedule B, also enter the amounts from lines 11, 13, and 14 on your franchise tax return.
Common mistakes
- Leaving required fields blank: All filers must enter the tax period and complete lines A through D.
- Omitting the certificate: You must submit a copy of your ESD certificate of tax credit.
- Completing Schedule B as a New York S corporation: The form explicitly says New York S corporations must not complete this schedule.
- Applying the general line 5 rule to a New York S corporation: Line 5 directs New York S corporations to the instructions. All other filers enter the lesser of line 4 or $1,500,000.
- Entering a negative amount on line 10: If line 9 is more than line 8, enter 0.
Questions people ask
Do I need to include my credit certificate?
Yes. Submit a copy of the certificate of tax credit issued by ESD, and use its information to complete lines B through D.
Where do I report credit received from a partnership?
Report the partnership information and allocated credit in Schedule C. Enter the total on line 15 and carry it to line 3.
Can unused credit be refunded or applied to next year’s tax?
Schedule B provides for both options. Line 12 calculates the unused credit. Enter the refund amount on line 13, limited to line 12. Line 14 is the remainder to apply as an overpayment to the next year’s tax. New York S corporations do not complete Schedule B.
How much credit can I use for the current tax year?
For filers completing Schedule B, line 11 is the lesser of the credit limitation on line 10 or the credit after limitation on line 5. Enter that amount on both Form CT-660 and your franchise tax return.