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How to fill out the Form CT-602-I online
Form CT-602-I is an essential document for claiming the EZ capital tax credit, designed to assist users in applying this credit against various franchise taxes. This guide will provide clear, step-by-step instructions to help users complete the form accurately and efficiently online.
Follow the steps to fill out Form CT-602-I online
- Press the ‘Get Form’ button to obtain the form and open it in your online editor.
- Review the general information provided in the form. Familiarize yourself with the purpose of the EZ capital tax credit and the eligibility requirements.
- Start by completing Line A. If you are claiming a credit passed through from a partnership, mark an X in the designated box.
- Proceed to Schedule A, where you will enter details about the monetary contributions made to EZ community development projects. Provide the name, zone location, and contributions, ensuring you attach supporting documentation.
- For Line 4, if applicable, provide any amounts received from a partnership and include the name and identifying number on a separate sheet.
- New York S corporations should transfer the amounts from Schedule A to Form CT-34-SH, ensuring accurate reporting for shareholder information.
- In Schedule B, start with Line 9 and enter the EZ capital tax credit allowed in previous years, subtracting any recaptured credit. Continue with Lines 10 to 13, following instructions on how to calculate the amounts while considering any other credits being claimed.
- Move to Schedule C, where you can compute your EZ capital tax credit and carryover. Carefully follow the instructions for Lines 21 to 23 to determine your current credit and any future carryover.
- Lastly, complete Schedule D to recapture any EZ capital tax credit. Record any relevant dispositions or recoveries based on the specified timelines.
- Once all sections are filled out, you can save changes and choose to download, print, or share the completed form.
Complete your Form CT-602-I online today to claim your EZ capital tax credit.
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