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 Form CT 248Claim for Empire State Film Production Credit 2012

2012-2025 Form

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What is the Form CT 248Claim For Empire State Film Production Credit

The Form CT 248 is a tax document used to claim the Empire State Film Production Credit, which is designed to incentivize film and television production in New York State. This credit allows eligible productions to receive a percentage of qualified production expenditures incurred while filming in the state. The form is essential for producers and production companies seeking to reduce their tax liability through this state-sponsored initiative.

Key elements of the Form CT 248Claim For Empire State Film Production Credit

When filling out the Form CT 248, several key elements must be addressed to ensure compliance and eligibility for the credit. These include:

  • Production Information: Details about the production, including title, type, and shooting dates.
  • Qualified Expenditures: A breakdown of eligible costs such as wages, equipment, and other production-related expenses.
  • Tax Identification: The taxpayer's identification number and other relevant tax information.
  • Certification: A declaration confirming that the information provided is accurate and complete.

Steps to complete the Form CT 248Claim For Empire State Film Production Credit

Completing the Form CT 248 involves several steps to ensure accuracy and compliance:

  1. Gather all necessary documentation related to the production, including financial records and identification numbers.
  2. Fill in the production details, ensuring all information is accurate and matches supporting documents.
  3. Detail the qualified expenditures, categorizing each expense appropriately.
  4. Review the form thoroughly to verify that all sections are completed and accurate.
  5. Sign and date the form to certify the information provided.

Eligibility Criteria

To qualify for the Empire State Film Production Credit, productions must meet specific eligibility criteria, including:

  • The production must be filmed in New York State.
  • At least seventy-five percent of the production's total filming days must occur in New York.
  • Minimum qualified expenditures must be met, which typically includes a threshold amount spent on production costs.
  • Productions must apply for the credit within the designated time frame set by the state.

Form Submission Methods (Online / Mail / In-Person)

The Form CT 248 can be submitted through various methods, providing flexibility for producers:

  • Online Submission: Some applicants may have the option to submit the form electronically through the New York State Department of Taxation and Finance website.
  • Mail: Completed forms can be mailed to the designated tax office address specified in the form instructions.
  • In-Person: Applicants may also choose to deliver the form in person at local tax offices, ensuring they receive confirmation of submission.

Filing Deadlines / Important Dates

Filing deadlines for the Form CT 248 are crucial for ensuring that productions can claim their credits in a timely manner. Typically, the form must be submitted by:

  • The due date of the tax return for the year in which the production was completed.
  • Any extensions granted by the state do not usually extend the deadline for submitting this form, so it is important to adhere to the original timeline.

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