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This version of the form is not currently in use and is provided for reference only. Download this version of
Form CT-648
for the current year.
Form CT-648 Life Sciences Research and Development Tax Credit - New York
What Is Form CT-648?
This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form CT-648?
A: Form CT-648 is the Life Sciences Research and Development Tax Credit form for the state of New York.
Q: Who is eligible to claim the Life Sciences Research and Development Tax Credit?
A: Eligible taxpayers include businesses engaged in life sciencesresearch and development activities in New York.
Q: What is the purpose of the Life Sciences Research and Development Tax Credit?
A: The purpose is to encourage and support life sciences research and development activities in New York.
Q: How is the credit calculated?
A: The credit is calculated as a percentage of qualified research expenses incurred in New York.
Q: What are qualified research expenses?
A: Qualified research expenses include wages, supplies, and contract research expenses related to eligible research activities.
Q: How can I claim the Life Sciences Research and Development Tax Credit?
A: The credit can be claimed by completing and filing Form CT-648 with the New York State Department of Taxation and Finance.
Q: Are there any limitations or restrictions on the credit?
A: Yes, there are certain limitations on the credit, including a maximum credit amount and a phased-in credit rate based on the taxpayer's research and development expenditures.
Q: Are there any deadlines for claiming the credit?
A: Yes, the credit must be claimed on the taxpayer's annual New York State tax return by the due date, including extensions.
Q: Can the Life Sciences Research and Development Tax Credit be carried forward or refunded?
A: Yes, any unused portion of the credit can be carried forward for up to 15 years or refunded if the taxpayer meets certain criteria.
Form Details:
- The latest edition provided by the New York State Department of Taxation and Finance;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form CT-648 by clicking the link below or browse more documents and templates provided by the New York State Department of Taxation and Finance.
Download Form CT-648 Life Sciences Research and Development Tax Credit - New York
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