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 a tax form for claiming 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 tax credit offered by New York to businesses that provide qualified training to their employees.

Q: Who is eligible to claim the tax credit?
A: Businesses that have been certified by the New York State Department of Labor under the Employee Training Incentive Program are eligible to claim the tax credit.

Q: What expenses are eligible for the tax credit?
A: Expenses related to qualified training programs, including instructor fees, curriculum development, and training materials, are eligible for the tax credit.

Q: How much is the tax credit?
A: The tax credit is equal to 50% of eligible training expenses, up to a maximum of $10,000 per employee trained.

Q: How do I claim the tax credit?
A: To claim the tax credit, you must file Form CT-646 with the New York State Department of Taxation and Finance.

Q: Are there any deadlines for claiming the tax credit?
A: Yes, Form CT-646 must be filed within three years from the end of the taxable year in which the training expenses were incurred.

Q: Is there a limit on the total amount of tax credits that can be claimed?
A: Yes, the total amount of tax credits that can be claimed under the Employee Training Incentive Program is limited to $2 million per calendar year.