Instructions for Form CT-646 Employee Training Incentive Program Tax Credit - New York

Form CT-646 Employee Training Incentive Program Tax Credit - New York

This document contains official instructions for Form CT-646 , Employee Training Incentive Program Tax Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form CT-646 is available for download through this link.

FAQ

Q: What is Form CT-646?
A: Form CT-646 is the form used to claim the Employee Training Incentive Program Tax Credit in New York.

Q: What is the Employee Training Incentive Program Tax Credit?
A: The Employee Training Incentive Program Tax Credit is a program in New York that provides tax incentives for employers who provide eligible job training programs.

Q: Who is eligible for this tax credit?
A: Employers who provide eligible job training programs in New York may be eligible for this tax credit.

Q: How do I claim this tax credit?
A: You can claim this tax credit by completing and filing Form CT-646 with the New York State Department of Taxation and Finance.

Q: When is the deadline to file Form CT-646?
A: The deadline to file Form CT-646 is the same as your New York State corporate tax returndue date, including extensions.

Q: What documentation do I need to support my claim?
A: You will need to provide documentation such as training program descriptions, evidence of program completion, and proof of expenses incurred.

Q: Is there a limit to how much tax credit I can claim?
A: Yes, there is a limit to how much tax credit you can claim. The maximum credit allowable is $10,000 per employee per taxable year.

Q: Can I carry forward any unused tax credit?
A: No, you cannot carry forward any unused tax credit. Any credit not used in a taxable year is forfeited.

Q: Are there any penalties for filing a false claim?
A: Yes, there are penalties for filing a false claim. If you knowingly make a false claim, you may be subject to penalties and criminal charges.