IT-248: Claim for Empire State Film Production Credit (2024)
New York · NY DTF · Used for tax years 2024
Form IT-248 is used to claim the New York Empire State film production credit. It calculates the credit for 2024, reports shares received from partnerships, S corporations, estates, or trusts, and records amounts to be claimed in succeeding tax years.
Who files this form
Form IT-248 is used to claim the Empire State film production credit. Submit it with Form IT-201, IT-203, IT-204, or IT-205.
The form includes reporting directions for individuals, partnerships, and fiduciaries, plus fields for credit shares received from partnerships, New York S corporations, estates, and trusts.
What you'll need
- A copy of your certificate of tax credit from the Governor’s Office of Motion Picture & Television Development. You must submit this with Form IT-248.
- Your name as shown on your return and your taxpayer identification number.
- Your certificate number and, if applicable, the credit allocation year from your certificate or the partnership’s certificate.
- If reporting a credit share from an entity: its name, entity type, employer identification number, and your share of the current year’s credit.
- If allocating credit to beneficiaries: each beneficiary’s name as shown on Form IT-205, Schedule C, identifying number, and share of the current year’s credit.
How to file
Submit Form IT-248 and a copy of your certificate of tax credit with Form IT-201, IT-203, IT-204, or IT-205.
Report the total credit from line 7 as follows:
- Individuals: Enter the amount and code 248 on Form IT-201-ATT, line 12, or Form IT-203-ATT, line 12.
- Partnerships: Enter the amount and code 248 on Form IT-204, line 147.
- Fiduciaries: Include the amount on Form IT-205, line 33.
The supplied form text does not give a mailing address or e-filing directions.
Common mistakes
- Leaving out the certificate: The form says you must also submit a copy of your certificate of tax credit.
- Omitting amounts from additional forms: The line 8 total must include amounts from additional forms.
- Using the wrong entity type in Part 2: Enter P for partnership, S for S corporation, or ET for estate or trust.
- Using a different beneficiary name: Part 3 asks for the beneficiary’s name exactly as shown on Form IT-205, Schedule C.
Questions people ask
Do I need to attach my certificate of tax credit?
Yes. Submit a copy of the certificate from the Governor’s Office of Motion Picture & Television Development with Form IT-248.
Where do I report my share of credit from a partnership, S corporation, estate, or trust?
Use Part 2 to list the entity information and your share of the current year’s credit. Add the amounts in column D, including amounts from additional forms, and enter the total on line 8 and line 3.
How is the total credit on line 7 calculated?
Add lines 2, 3, and 4 and enter the result on line 5. Subtract line 6, the fiduciary’s credit allocated to beneficiaries, from line 5 to get line 7.
Where does the 2024 form show credits to be claimed in later years?
Part 4 has line 9 for the amount to be claimed for 2025 and line 10 for the amount to be claimed for 2026. Both lines refer to instructions, which were not supplied here.