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This version of the form is not currently in use and is provided for reference only. Download this version of
Form CT-642
for the current year.
Form CT-642 Empire State Musical and Theatrical Production Credit - New York
What Is Form CT-642?
This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form CT-642?
A: Form CT-642 is a tax form used in New York for claiming Empire State Musical and Theatrical Production Credit.
Q: What is the Empire State Musical and Theatrical Production Credit?
A: The Empire State Musical and Theatrical Production Credit is a tax credit offered in New York to encourage musical and theatrical productions.
Q: Who can claim the Empire State Musical and Theatrical Production Credit?
A: Qualified businesses that produce or present musical or theatrical productions in New York can claim the credit.
Q: What types of productions qualify for the credit?
A: Qualified productions include live performances, concerts, Broadway shows, and other similar productions.
Q: What expenses can be claimed for the credit?
A: Eligible expenses include production costs, certain labor expenses, and certain post-production expenses.
Q: How much is the Empire State Musical and Theatrical Production Credit?
A: The credit is generally equal to 25% of eligible expenses.
Q: How to complete Form CT-642?
A: To complete Form CT-642, you will need to provide information about your production, expenses, and calculate the credit amount.
Q: When is the deadline to file Form CT-642?
A: The deadline for filing Form CT-642 is the same as your business tax return deadline.
Q: Can the credit be carried forward or back?
A: Yes, any unused credit can be carried forward for 15 years or carried back for 3 years.
Form Details:
- The latest edition provided by the New York State Department of Taxation and Finance;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form CT-642 by clicking the link below or browse more documents and templates provided by the New York State Department of Taxation and Finance.
Download Form CT-642 Empire State Musical and Theatrical Production Credit - New York
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