CT-661: Farm Employer Overtime Credit (2025)
New York · NY DTF · Used for tax years 2025
Form CT-661 calculates the New York Farm Employer Overtime Credit for corporations, including credit shares received from partnerships. It reports eligible overtime amounts, advance payments, and the credit available to use, receive as a refund, or apply to next year’s tax.
Who files this form
Form CT-661 is for C corporations and New York S corporations claiming the Farm Employer Overtime Credit, either for credit they earned or for a share received from a partnership.
Corporations claiming credit they earned must answer line C. It asks whether federal gross income from farming is at least two-thirds of federal gross income from all sources in excess of $30,000 for the tax year. If you answer No, you do not qualify for the credit and must repay any advance payment received.
What you'll need
Have the following forms and information available, as applicable:
- Your corporation’s legal name, EIN, and tax period beginning and ending dates.
- The farm’s name, EIN, and physical address.
- Forms CT-661-ATT if your corporation earned the credit. CT-661 uses their column I totals and the total number of unique farm employees.
- Advance payment amounts and the certificate number requested on line A.
- For partnership credits, each partnership’s name, EIN, allocated credit amount, and any amount received as an advance payment. Schedule B requests a certificate number when an advance payment is entered.
- For eligible overtime paid indirectly through a qualified Professional Employer Organization (PEO), the certificate issued by the Department of Agriculture and Markets, including its certificate number and number of eligible farm employees.
- Your franchise tax return information for Schedule C, including tax due before credits, credits claimed before this credit, and fixed dollar minimum tax.
How to file
File Form CT-661 with Form CT-3, CT-3-A, or CT-3-S.
All filers must enter their tax period and complete lines A, B, and G. The remaining sections depend on how you are claiming the credit:
- C corporation that earned the credit: Complete lines C through G, Schedules A and C, and Forms CT-661-ATT.
- C corporation claiming a partnership share: Complete line G, Schedule A lines 4 through 7, and Schedules B and C.
- New York S corporation that earned the credit: Complete lines C through G, Schedule A, and Forms CT-661-ATT.
- New York S corporation claiming a partnership share: Complete line G, Schedule A lines 4 through 7, and Schedule B.
The supplied form does not give a mailing address or e-file directions.
Common mistakes
- Leaving required entries blank: All filers must enter the tax period and complete lines A, B, and G.
- Leaving out advance payments: Include advance payments on line 6, including partnership advance payments totaled in Schedule B, column E.
- Claiming the credit after answering No on line C: The form says you do not qualify and must repay any advance payment received.
- Entering a negative credit limitation: If the line 13 calculation is zero or less, enter 0.
- Requesting too large a refund: The refund on line 16 is limited to the unused credit on line 15.
Questions people ask
How is the credit calculated for overtime reported on Forms CT-661-ATT?
Add all column I amounts from Forms CT-661-ATT and enter the total on line 1. Multiply that total by 1.18, the 118% overtime reimbursement rate, to calculate line 3.
How do advance payments affect my credit?
Enter advance payments on line 6. Subtract line 6 from the total available credit on line 5 to calculate the net credit on line 7.
Can unused credit be refunded or applied to next year’s tax?
Schedule C provides for both options. Line 15 calculates unused credit available as a refund or overpayment. Enter the refund amount on line 16 and the remaining amount to apply to next year’s tax on line 17.
What information is required if eligible overtime was paid through a PEO?
If you answer Yes on line G, enter the certificate number and number of eligible farm employees shown on the certificate issued by the Department of Agriculture and Markets.