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CT-238

New York State Department of Taxation and Finance

Claim for Rehabilitation of Historic Properties Credit
Tax Law -- Section 210.40
All filers must enter tax period: beginning ending Employer identification number (EIN)

Name

Attach to Form CT-3, CT-3-A, or CT-3-S

Part 1 -- Certified historic structure information and credit amounts (attach additional sheets if necessary; see instructions)
Schedule A -- Certified historic structure information
Property A Address of certified historic structure B Project number C Date of completion

1 2 3 Schedule B -- Certified historic structure credit amounts
Property A Qualified rehabilitation expenditures B Multiply column A by 20% (.2) C Multiply column B by 30% (.3) D Enter the lesser of column C or $100,000

1 2 3
Total from additional sheet(s), if any ............................................................................................................... 1 Total of column D amounts ................................................................................................................ 1. 2 Rehabilitation of historic properties credit from partnership(s) (from line 14) ...................................... 2. 3 Unused rehabilitation of historic properties credit carried over from previous tax years ................... 3. 4 Total rehabilitation of historic properties credit (add lines 1, 2 and 3; New York S corporations, see instructions) ... 4. 5 Rehabilitation of historic properties credit recapture (from line 13; New York S corporations, see instructions) 5. 6 Total rehabilitation of historic properties credit available (see instructions) .......................................... 6.

Part 2 -- Computation of rehabilitation of historic properties credit used or carried forward (New York
S corporations do not complete this section)
7 8 9 10 Tax due before credits (from Form CT-3 or CT-3-A) ................................................................................. 7. Tax credits claimed before rehabilitation of historic properties credit (see instructions)....................... 8. Subtract line 8 from line 7.................................................................................................................... 9. Credit used this year (enter the lesser of line 6 or line 9; transfer this amount to Form CT-3, line 100a, or Form CT-3-A, line 101a) ..................................................................................................................... 10. 11 Unused credit to be carried forward (subtract line 10 from line 6) .......................................................... 11.

Part 3 -- Computation of rehabilitation of historic properties credit recapture (see instructions)
12 Federal recapture amount ................................................................................................................. 13 Amount to be recaptured (multiply line 12 by 30% (.3), not to exceed original credit claimed; enter here and on line 5) .................................................................................................................................... 12. 13.

Part 4 -- Partnership information (attach additional sheets as necessary)
Name of partnership Partnership's EIN Credit amount allocated

Total from additional sheet(s), if any ................................................................................................................. 14 Total credit amount allocated from partnership(s) (enter here and on line 2) ........................................... 14.

53101080094

Page 2 of 2 CT-238 (2008)

General information
The rehabilitation of historic properties credit is available to Article 9-A taxpayers for expenses related to the rehabilitation of depreciable, certified historic structures located in New York State. A certified historic structure is a structure which meets the definition of a certified historic structure under IRC section 47(c)(3). Under that section, a certified historic structure is a building (and its structural components) that is listed in the National Register of Historic Places or is located in a registered historic district and is certified by the Secretary of the Interior to the Secretary of the Treasury as being of historic significance to the district. The credit is available for tax years beginning on or after January 1, 2007. The credit is equal to 30% of the federal credit amount allowed under Internal Revenue Code (IRC) section 47(c)(3) on a certified historic structure located in New York State, with the New York State credit amount not to exceed $100,000 per certified historic structure. There is no limit on the number of certified historic structures for which the credit may be taken. If the credit exceeds the taxpayer's tax for the year, the excess may be carried over to the following years indefinitely. Any credit taken must be recaptured if the federal credit upon which the New York State credit is based is recaptured. New York S corporations: Any amount of rehabilitation of historic properties credit that originates in a New York S year flows through to the individual shareholders of the New York S corporation under Article 22, and cannot be applied against the New York State corporation franchise tax in a New York S year. As a result, complete only lines 1 through 5, and Parts 3 and 4, if applicable.

Line 2 -- Obtain this amount from the partnership(s) allocating this credit to you. Also complete Part 4, Partnership information. Lines 4 and 5 -- New York S corporations: Transfer these amounts to the applicable lines of Form CT-34-SH, New York S Corporation Shareholders' Information Schedule. Line 6 -- New York S corporations: Make no entry on this line. New York C corporations: Subtract line 5 from line 4. If the amount on line 4 is greater than the amount on line 5, enter the result on line 6. This is the net credit available for use this period. If the amount of line 5 is greater than line 4, you have a net recaptured tax credit. Subtract line 5 from line 4 and enter the result as a negative number with a minus (-) sign. Enter this negative amount in the appropriate box of the tax credits section of your franchise tax return. Do not complete Part 2.

Part 2 -- Computation of rehabilitation of historic properties credit used or carried forward (New
York S corporations do not complete this section)
Line 8 -- If you are claiming more than one credit, you must apply certain credits before the rehabilitation of historic properties credit. Refer to Form CT-600-I, Instructions for Form CT-600, Ordering of Corporation Tax Credits, for the proper ordering of your credits. If you are included in a combined return, include any amount of tax credit(s), including rehabilitation of historic properties credit, being claimed by another member of the combined group that you wish to apply before the rehabilitation of historic properties credit claimed on this form. Enter the amount of the credit(s) being claimed before the rehabilitation of historic properties credit. Otherwise, enter 0.

Specific instructions
Part 1 -- Certified historic structure information and credit amounts
Enter only the information relating to certified historic structures that are located in New York State for which you took a federal credit. Attach additional sheets, as needed, in the same format as schedules A and B. Write the name and employer identification number (EIN) of your corporation on each sheet.

Part 3 -- Computation of rehabilitation of historic properties credit recapture
You must recapture all or a portion of the rehabilitation of historic properties credit if the qualified property, located in New York State, that is used as the basis for this credit ceases to be qualified and you were required to recapture all or part of the federal credit. The recapture amount will be the lesser of 30% of the federal amount recaptured on property located in New York State, or the amount of credit for the rehabilitation of historic properties previously claimed for that property.

Schedule A -- Certified historic structure information
Column A -- Enter the location of the certified historic structure located in New York State. Provide the specific address and, if applicable, the name of the historic district in which the property is located. Column B -- Enter the assigned National Parks Service (NPS) project number. Column C -- Enter the completion date of the project.

Schedule B -- Certified historic structure credit amounts
Enter the information for each property in the same order as the properties are listed under Schedule A. Column A -- Enter the amount of qualified rehabilitation expenditures that qualified for the federal rehabilitation credit for your federal tax year beginning on or after January 1, 2007 with respect to each certified historic structure located in New York State.

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