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Instructions for Form CT-650
for the current year.
Instructions for 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 for claiming the Empire StateApprenticeship Tax Credit in New York.
Q: Who can claim the Empire State Apprenticeship Tax Credit?
A: Employers who hire eligible apprentices in New York State can claim this tax credit.
Q: What is the purpose of the Empire State Apprenticeship Tax Credit?
A: The tax credit is designed to incentivize the hiring of apprentices and support apprenticeship programs in New York.
Q: What information is required on Form CT-650?
A: The form requires information about the employer, the apprentice, and the apprenticeship program.
Q: When is the deadline for filing Form CT-650?
A: The form must be filed no later than 90 days after the end of the tax year in which the credit is being claimed.
Q: How much is the Empire State Apprenticeship Tax Credit?
A: The amount of the tax credit depends on the wages paid to eligible apprentices and the duration of their apprenticeship program.
Q: Can the Empire State Apprenticeship Tax Credit be carried forward?
A: Yes, any unused credit can be carried forward for up to 5 years.
Q: Are there any limitations on claiming the Empire State Apprenticeship Tax Credit?
A: Yes, certain limitations apply, such as a cap on the total amount of credits that can be claimed in a tax year.
Instruction Details:
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- Might not be applicable for the current year. Choose a more recent version;
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