Credits related to home or farm ownership
Clean heating fuel credit
Who is eligible?
You are entitled to this refundable credit if you or your business purchased bioheating fuel to be used for space heating or hot water production for residential purposes within New York State.
Additional information
Bioheating fuel purchased on or after January 1, 2017, must contain at least 6% biodiesel per gallon of bioheating fuel to qualify for the credit.
The percentage of biodiesel included in the bioheating fuel is the number or numbers preceded by the letter B in the bioheating fuel designation. For example, bioheating fuel designated B10 contains 10% biodiesel.
How much is the credit?
The credit is equal to one cent for each percent of biodiesel per gallon of bioheating fuel purchased before January 1, 2023. It may not exceed 20 cents per gallon.
What form do I file?
Complete and submit one of the following with your return:
- Form CT-241, Claim for Clean Heating Fuel Credit (for corporations)
- Form IT-241, Claim for Clean Heating Fuel Credit (for all others)
Farmers’ school tax credit
Who is eligible?
You are entitled to this refundable credit if you or your business:
- are engaged in the business of farming, and
- paid school district property taxes on qualified agricultural property.
How much is the credit?
The credit amount depends on the amount of qualified acres and the amount of school district property taxes paid.
What are the recordkeeping requirements?
Taxpayers must prove entitlement to tax credits. During the course of an audit, you may be required to provide documentation to substantiate entitlement based on the specific facts of your tax credit claim. See Farmers school tax credit recordkeeping requirements for more information on the recordkeeping requirements for this credit.
What form do I file?
Complete and submit one of the following forms with your return:
- Form CT-47, Claim for Farmers' School Tax Credit (for corporations)
- Form IT-217, Claim for Farmers' School Tax Credit (for all others)
