Instructions for Form CT-650 Empire State Apprenticeship Tax Credit - New York

Form CT-650 Empire State Apprenticeship Tax Credit - New York

This document contains official instructions for Form CT-650 , Empire State Apprenticeship Tax Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form CT-650 is available for download through this link.

FAQ

Q: What is Form CT-650?
A: Form CT-650 is the Empire StateApprenticeship Tax Credit form in New York.

Q: Who is eligible for the Empire State Apprenticeship Tax Credit?
A: Employers who participate in an approved apprenticeship program in New York are eligible for this tax credit.

Q: What is the purpose of the Empire State Apprenticeship Tax Credit?
A: The tax credit is intended to encourage employers to hire and train apprentices in New York.

Q: How do I claim the Empire State Apprenticeship Tax Credit?
A: You must complete Form CT-650 and attach it to your New York state tax return.

Q: What information do I need to provide on Form CT-650?
A: You will need to provide details about your business, the apprenticeship program, and the apprentices you have hired.

Q: What is the maximum amount of the tax credit?
A: The maximum credit amount is $2,000 per eligible apprentice per taxable year.

Q: Are there any limitations to the tax credit?
A: Yes, the total credit cannot exceed the New York state tax liability for the year.

Q: Are there any deadlines for filing Form CT-650?
A: Yes, the form must be filed on or before the due date of the New York state tax return for the taxable year.