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Real Property tax credit for NY Manufacturers

  • 1.  Real Property tax credit for NY Manufacturers

    Posted 10-06-2016 12:13 PM

    Is anyone very familiar with the CT-641 filing for the property tax credit available to manufacturers?  It seems that it is available to businesses that either own or rent property in New York State and pay real estate taxes. However I noted that it mentions that the lease must be with a third party.  As most businesses, for liability reasons, keep real property in a separate entity and then rent to the operating business, does this actually apply to many businesses?  Does anyone have clients in a similar situation and did they ever try  to get a ruling otherwise to allow this tax credit? Thank you.

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    Lori Di Marco
    LORI DI MARCO, CPA, PLLC
    Sayville NY
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